Organization of the Board of Directors

The Board of Directors meets as often as necessary, but at least four times a year on invitation by the Chair of the Board of Directors, the Vice-Chair, or in the event of their absence, another member of the Board of Directors. In addition, the Board of Directors must be convened without delay on written request for a meeting by a member of the Board of Directors to the Chair, stating the reasons for doing so.

The Chair presides over the meetings. Along with members of the Board of Directors, the meetings may also be attended by members of the Group Management and other non-members. The Chair decides whether non-members may participate in meetings of the Board of Directors, unless the whole Board of Directors decides otherwise. The actual number of meetings (including physical meetings and conference calls) held and the number of written resolutions taken, if any, by the Board of Directors in the reporting year, as well as information regarding the attendance by the members of the Board of Directors, is set out here (meetings, duration and attendance).

In the reporting year, members of the Group Management regularly attended the meetings of the Board of Directors in compliance with exclusion principles. No external consultants attended meetings of the Board of Directors.