Work of the Board of Directors

Next to the general meeting, the Board of Directors is the highest decision-making body of Paradox and its highest executive body.

According to the Swedish Companies Act, the Board is responsible for the management and organization of the company, meaning that it among other tasks should decide on targets and strategies, ensure routines and systems for the evaluation of the decided targets, continuously evaluate the financial position and development of Paradox and evaluate the executive management. The Board is also responsible to ensure that the annual report, group accounts and the interim reports are produced at the appropriate time. In addition, it appoints the CEO.

The board members are elected each year at the Annual General Meeting until the end of the next AGM. According to the articles of association of Paradox, the board elected at the AGM must comprise at least three and not more than six members. The Chairman of the board is elected at the AGM and has a particular responsibility to lead the work of the board and ensure that its activities are well organized and conducted in an efficient way.

The Board’s work is further controlled by the written rules of procedure that the Board annually review and determine at the constituent meeting. The rules of procedure regulate the Board’s working methods, tasks, decision-making within the Company, the Board’s meeting agenda, the Chairman’s duties and an appropriate division of tasks between the Board and the CEO. An instruction for financial reporting and instructions to the CEO are also decided at the statutory Board meeting. The Board shall also ensure that the company’s external communication is characterized by transparency and is accurate, relevant and clear. The Board is also responsible for establishing the necessary guidelines and other policy documents, such as communications policy and insider policy.