The Board of Directors’ overarching responsibility is to govern Catena’s and the Group’s affairs on behalf of the owners in a way that is sustainable over time so that the owners' interest in a good long-term return on invested capital is met in the best possible way. The members are elected annually at the AGM and serve for a period up to the end of the following AGM.
The Board’s work is carried out in compliance with statutory provisions, regulations, the Articles of Association and the formal work plan. The rules of procedure are discussed at the inaugural meeting of the Board and adopted annually. The composition of the Board includes expertise and experience from the areas that are of major importance as part of efforts to support, monitor and control operations in a property company. Board members have expertise in properties, the property market, sustainability, financing, logistics, digital trade and business development. In accordance with the Articles of Association, Catena’s Board of Directors is to comprise not fewer than five and not more than nine members, and no deputies.
Formal work plan
The Board of Directors of Catena operates according to its rules of procedure which contain instructions regarding the division of tasks and responsibilities, as well as requirements for financial reporting. The rules of procedure are discussed at the inaugural meeting of the Board and adopted annually. In addition to leading the work of the Board of Directors in an efficient and appropriate manner, the Chairman monitors the Group’s ongoing development through contacts with the CEO on strategic matters. The Board also assesses the CEO’s work performance. The CEO’s Instructions and internal policy documents are also reviewed on a regular basis. The basis of internal control is the control environment in which the work of the Board and senior management of the Company is set. The Board has adopted several important policies and basic guidelines for internal control programmes. Catena’s internal control structure is based on a clear division of responsibility and work between the Board of Directors and CEO, as well as within operational activities.
Catena’s Board of Directors has appointed an Remuneration Committee and an Audit Committee.
The duties of the Nomination Committee, among others, is to submit proposals for Board members, the Chairman of the Board, Board fees and Auditors.