At the statutory meeting, the Board elects the Vice-Chairman, appoints the members of the committees, decides on the signature of the Articles of Association and on the instructions for the Managing Director. At this meeting, the Board also decides on rules of procedure for the Board, which apply until the next statutory Board meeting. The rules of procedure regulate, among other things, the overall tasks of the Board, the Board’s view of the Board assignment, rules for Board meetings, the division of work between the Board and the CEO and the forms of ongoing financial reporting.
Board meetings are prepared by the Chairman and the CEO, who together propose the agenda for the relevant Board meetings during the year. The Executive Board provides the members with written reports and supporting documents for each meeting.
There are standing items on the agenda for the meetings and these relate to the Executive Director’s presentation:
- the development of the business
- market developments and competition
- development in the field of human resources
- environmental, health and safety issues
- investment requests
ProfilGruppen’s Board meetings, in addition to the statutory Board meeting, are held at least four times a year and deal with various topics. Minutes are taken by the secretary of the Board, who is the company’s CFO.
Throughout the year, the members of the Board of Directors receive monthly reports highlighting the company’s financial and operational performance.