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.

Georg Brunstam

Chairman of the Board of Directors

Year elected: 2018
Born: 1957
Nationality: Swedish
Other board positions: Board Member of NIBE Industrier AB and Melker Schörling AB.
Experience: President and CEO of HEXPOL AB and Nolato AB.
Qualifications: MSc. Industrial Management and Engineering, BSc. Business Administration
Dependence: Yes. Dependent in relation to the company’s major shareholders through his assignment on behalf of AAK’s main owner Melker Schörling AB.
Holdings: 25,000 shares

Gun Nilsson

Board member

Year elected: 2017
Born: 1955
Nationality: Swedish
Other board positions: Chairman of the Board of Hexagon AB. Board member of HEXPOL AB, Bonnier Group AB, Kollegiet för Svensk Bolagsstyrning, and Absolent Group AB.
Experience: Board member of Loomis AB, Capio AB, Dometic Group AB, and Husqvarna AB. CEO of Melker Schörling AB and Gambro Holding AB. CFO and Executive Vice President of Duni AB, CFO of IP-Only Holding AB, Sanitec Oyj, and Nobia AB.
Qualifications: MSc. Economics and 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: 6,000 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 - Media - AAK

Märta Schörling Andreen

Board member

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)

Patrik Andersson

Board member

Year elected: 2019
Born: 1963
Nationality: Swedish
Other board positions: 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: 307 shares

Board members appointed by the employees

Leif Håkansson - Media - AAK

Leif Håkansson

Employee representative

Year elected: 2005
Appointed by: IF-Metall
Born: 1957
Nationality: Swedish
Position: Senior safety delegate
Experience: Various labor union positions in AAK since 1991. Senior safety delegate for more than 30 years. Political assignments in Karlshamn municipality.
Qualifications: Upper secondary school
Holdings: None

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 August 31, 2021.