Corporate Governance

Vitec Software Group AB (publ.) ("Vitec") is a Swedish public company headquartered in the city of Umeå, Sweden. Vitec's shares are listed on NASDAQ OMX, Stockholm. Vitec follows the Swedish Code of Corporate Governance.

Corporate governance is essentially about how Vitec is beeing controlled and operated in a shareholder perspective. The high quality of the management and control of the activities have made ​​it possible to achieve a good development of Vitec's business. This favors Vitec customers, suppliers, partners, shareholders and employees.

Board & CEO

 
Crister Stjernfelt

Crister Stjernfelt, Chairman

Economic Studies at the University in Stockholm. Bromma, born in 1943.
Director since 2009. 
Chairman at Ortivus AB Mitt Hälsokonto AB, AcelQ AB och Oryx Simulations Verklighetsmodeller i Sverige AB. Board member of Digital Route AB, DGC One AB, Digital Route AB och Carmenta Sverige AB.  
Independant of company and major shareholders.
Holds 1 600 B-shares.
Jan Friedman

Jan Friedman

Master of Business Administration, Handelshögskolan i Stockholm 1978. Stockholm, born in 1952.
Director since 2010.
Chairman of Sportamore AB (publ), 2E Group AB, MittMedia AB, Grönklittsgruppen AB,  Nordic Public Affairs AB, Ticmate AB and Proffsmagasinet Svenska AB. Director in Bindomatic AB and Malux AB.
Independant of company and major shareholders.
Holds directly and trough companies 47 743 B-shares.
 Birgitta Johansson-Hedberg

Birgitta Johansson-Hedberg

BA, Psykology 1972, University of Lund. Lidingö, born in 1947.
Director since 2011.
Chairman of Almi Stockholm-Sörmland and The Swedish Linné-society, vice chairman in Resolutionsdelegationen. Director in Sveaskog, Copenhagen Economics and Sankt Lukas.
Independant of company and major shareholders.
Holds no shares in the company.
 Kaj Sandart

Kaj Sandart

Civil Engeneering, KTH 1977. Saltsjöbaden, born in 1953.
Director since 1998.
Director at Hallvarsson & Halvarson AB, Vallabacken AB, and Baltic Sea Action Group Sweden, and suppleant in Milox AB.
Independant of company and major shareholders.
Holds (with family) 23 802 B-shares.
Anna Valtonen

Anna Valtonen

PhD. from Department of Industrial and Strategic Design, Helsingfors, 2007.
Helsingki, born in 1974. 
Director since 2012.
Director in Kasthall Group AB and several international assignments, including as a board member in Aalto University Foundation, Finland och i Aarhus School of Architecture, Danmark 
Independent of company and major shareholders.
Holds no shares in the company.
 

CEO

 
 

Lars Stenlund

Lars Stenlund

Umeå, born 1958. CEO.
PhD in Applied Physics (1987) at the University of Umeå. CEO since 1990. Founder of the company, together with Olof Sandberg. Other directorships: Member of the Handelskammarens Service AC län AB, LapLabLaponia Laboratories AB, Ackra Invest AB.
Holds 364 000 A-shares and 57 543 B-shares.

Guidelines for remuneration

Guidelines for salary and other remuneration to senior executives

The Board will annually submit a proposal for guidelines for remuneration to senior executives each yearwhich shall be determined by the Annual General Meeting in accordance with the Companies Act. The Companies Act also sets out what the principles guidelines should contain and what evaluations to be made.

The following decision was taken by the Annual General Meeting

Senior executives refer to the CEO and other members of management. Remuneration to senior executives shall consist of fixed salary and pension. The total compensation should be competitive, and be related to responsibility and authority.

In determining the salary shall the individual responsibilities, skills and experience be taken into account. Salary is usually reconcidered once a year. Pension benefits shall be based on charge. The Board may deviate from the guidelines in individual cases if there are special reasons.

Accountants

At the 2015 Annual General Meeting, PricewaterhouseCoopers AB (Reg no. 556067-4276), with Niklas Renstrom was selected as auditor for the period until the next AGM.

Audit work

Audit work is a continuous process during the fiscal year. During the period February-March quarterly and annual reports are examined, while the group companies' internal controls and procedures is subject to review during the months in autumn.