Board Members Discussing a Corporate Decision - Investors - AAK

The Board

The tasks of the Board are regulated in the Swedish Companies Act and the Articles of Association. The work of the Board is regulated by working practices adopted by the Board each year.

The procedural rules of the Board also regulate the distribution of work and responsibilities between the Board, the Chairman of the Board, and the CEO. The rules also include procedures for financial reporting by the CEO to the Board.

Composition of the Board

In accordance with the Articles of Association, AAK’s Board of Directors shall consist of at least three and at most ten members. Board members are elected annually by the Annual General Meeting for the period until the next Annual General Meeting.

In accordance with legislation, employee organizations have a right to be represented on the Board, and have appointed two ordinary members and two deputies.

Patrik Andersson

Chairman of the Board, Chairman of the Remuneration Committee and member of the Audit Committee

Year elected: 2019 (Chairman since 2023)
Born: 1963
Nationality: Swedish
Other board positions: Chairman of Midsona AB, Sesol AB and Cary Group AB. Board member of Ecolean AB.
Experience: President and CEO Loomis. President of Orkla Foods Sverige, CEO and President of Rieber & Son, President of Wasabröd globally within Barilla Group, and various senior positions at Unilever Group.
Qualifications: MSc. Business Administration and Economics - International Business
Dependence: No
Holdings*: 3710 shares
Marianne Kirkegaard - Media - AAK

Marianne Kirkegaard

Board member

Year elected: 2015
Born: 1968
Nationality: Danish
Other board positions: Board member of Dansk Supermarked.
Experience: President and CEO of CSM Bakery Solutions. Various senior positions at Unilever Europe and Carlsberg/Coca Cola.
Qualifications: Executive MBA, MBA
Dependence: No
Holdings*: None

Märta Schörling Andreen

Board member, member of the Audit Committee and member of the Remuneration Committee

Year elected: 2013
Born: 1984
Nationality: Swedish
Other board positions: Board member of Melker Schörling AB, HEXPOL AB, Hexagon AB and Absolent Group AB.
Experience: Board member of Melker Schörling AB, HEXPOL AB, Hexagon AB, and Absolent Group AB.
Qualifications: MSc. Business Administration
Dependence: Yes. Dependent in relation to the company’s major shareholders through her assignment on behalf of AAK’s main owner Melker Schörling AB.
Holdings*: 78,774,412 shares (through Melker Schörling AB)

Nils-Johan Andersson

Board member and Chairman of the Audit Committee

Year elected: 2023
Born: 1962
Nationality: Swedish
Other board positions: Board member of Hexpol AB and Absolent Group AB. Member of the investment committee of Greenbridge and Spira Invest.
Experience: CEO of Melker Schörling AB. Prior to that, he was CFO at MSX International, CFO at Bravida, CFO and Head of business area Ventilation at Lindab and has in addition thereto held various finance positions within Boliden and Munksjö.
Qualifications: Master of Science in Economics and Business Administration from Jönköping University.
Dependence: Independent in relation to the company and its management but dependent in relation to a major shareholder of the company.
Holdings: 1,600

Fabienne Saadane-Oaks

Board member

Year elected: 2023
Born: 1958
Nationality: French
Other board positions: Non-executive director of Fermentalg, Roal Oy and Fytexia Group and member of the Comité Sully.
Experience: CEO of ABF Ingredients, a division of Associated British Foods. Prior to that, she has held various management positions within Dupont, Danisco, Rhodia, SKW/Degussa Group and Sanofi Bio-Industries.
Qalifications: Master in Mechanical Engineering from ENSTA and an MBA from ESSEC.
Dependence: No
Holdings*: None

Ian Roberts

Board member

Year elected: 2023
Born: 1970
Nationality: British
Other board positions: Member of an advisory board for Dole Packaged Goods, vice chairman of the board of Restor as well as co-founder and president of Mass Challenge Switzerland.
Experience: Previous working experiences include, among others, various management positions within Nestlé.
Qualifications: Ph.D. in Process Engineering, a Master of Science in Chemical Engineering and a Bachelor of Engineering in Biochemical Engineering from the University of Wales, Swansea, United Kingdom.
Dependence: No
Holdings*: None

Board members appointed by the employees

David Alfredsson

Employee representative

Year elected: 2022
Appointed by: IF Metall
Born: 1994
Nationality: Swedish
Experience: Various labor union positions in AAK and in the regional labor union
Qualifications: Upper secondary school
Holdings*: None
Position: Chief safety representative

Lena Nilsson

Employee representative

Year elected: 2018
Appointed by: PTK-L
Born: 1960
Nationality: Swedish
Position: Marketing Coordinator
Experience: Vice Chairman local trade union, Deputy to Work environment representative, Work environment representative local trade union.
Qualifications: Upper secondary school
Holdings*: None

Auditor — KPMG AB

Jonas Nihlberg

Authorized Public Accountant and KPMG partner since 2015

The Company’s Auditor since: 2021
Born: 1973
Nationality: Swedish
Other auditing assignments: Hansa Biopharma AB and NIBE Industrier AB

*Holdings as of February 19, 2024.