Nomination Committee

Nomination Committee

The AGM resolves upon the nomination process for the Board of Directors and the auditors. The AGM 2011 adopted an instruction for the Nomination Committee which applies until further notice. The instruction involves a process for the appointment of a Nomination Committee comprised of six members. The members should be one representative of each of the four largest shareholders, in terms of voting rights that wish to participate in the Committee, together with the Chairman of the Electrolux Board and one additional Board member.

The composition of the Nomination Committee shall be based on shareholder statistics from Euroclear Sweden AB as of the last banking day in August in the year prior to the AGM and on other reliable shareholder information which is provided to the company at such time. The names of the representatives and the names of the shareholders they represent shall be announced as soon as they have been appointed. If the shareholder structure changes during the nomination process, the composition of the Nomination Committee may be adjusted accordingly.

The Nomination Committee is assisted in preparing proposals for auditor by the company’s Audit ­Committee and the Nomination Committee’s proposal is to include the Audit Committee’s recommendation on the election of auditor.

The Nomination Committee’s proposals are publicly announced no later than on the date of notification of the AGM. Shareholders may submit proposals for nominees to the Nomination Committee.

Nomination Committee for the AGM 2016

The Nomination Committee for the AGM 2016 was comprised of six members. Johan Forssell of Investor AB led the Nomination Committee’s work.

For the proposal for the AGM 2016, the Nomination Committee made an assessment of the composition and size of the current Board as well as the Electrolux Group’s operations. Areas of particular interest were Electrolux strategies and goals and the demands on the Board that are expected from the Group’s positioning for the future. The Nomination Committee also considered that a breadth and variety as regards age, nationality, gender, educational background, experience, competence and term of office is represented among the Board ­members.

The Nomination Committee proposed Ulla Litzén, David Porter and Jonas Samuelson as new Board members and re-election of Ronnie Leten as Chairman of the Board. After the election at the AGM 2016, three out of eight Board ­members elected at the shareholders’ meeting are women (in this calculation, the President and CEO has not been included in the total number of Board members). A report regarding the work of the Nomination Committee was included in the the Nomination Committee’s explanatory statement that was published before the AGM 2016. ­Further information regarding the Nomination Committee and its work can be found on the Group’s website; 
www.electroluxgroup.com/corporate-governance.

The Nomination Committee’s tasks include preparing a proposal for the next AGM regarding:

• Chairman of the AGM.
• Board members.
• Chairman of the Board.
• Remuneration to Board members.
• Remuneration for committee work.
• Amendments of instructions for the Nomination Committee, if deemed neccessary.
• Auditors and auditors’ fees, when these matters are to be decided by the following AGM.