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Corporate governance

ICA-handlarnas Förbund’s corporate governance model is based on a structured process for creating long-term growth in the value of our holdings.

ICA-handlarnas Förbund’s influence in ICA Gruppen is grounded in its majority ownership. This gives us the opportunity to take an active ownership role through interaction with the board of directors and executive management. For us, a long-term approach is a fundamental prerequisite in our work with corporate governance.

 This work is conducted from an overarching ownership perspective and is based on creating good familiarity and knowledge about the grocery retail market and ICA’s operations. This knowledge serves as a foundation for driving strategic issues related to ICA Gruppen’s long-term direction. Based on this an action plan is established, which covers long-term as well as short-term priority focus areas.

Our goal is to create value through active ownership, which we exercise through, e.g., our involvement in the nomination of board members. We therefore attach great importance to the work of ICA Gruppen’s Nomination Committee. We are strongly represented on the Nomination Committee, and we believe it is important to have a well-composed board with the right competence based on the company’s challenges and needs.

 ICA Gruppen’s board is made up of individuals with a good mix of experience and relevant industry and operational knowledge, as well as an understanding of the ICA Idea of independent retailers working in cooperation. Active board work is a vital precondition for the company’s development. Several of ICA Gruppen’s board members have strong ties to ICA-handlarnas Förbund. In this way we ensure that the Association’s corporate governance is exercised also within the board of directors.

 For ICA-handlarnas Förbund it is important to have a clear division of roles and responsibilities between the owners, board of directors and executive management. The owners are responsible for owner-related issues, such as the action plan and for fostering an effective dialogue between the owners, board and executive management. The board appoints the CEO, approves the strategy and major investments, and monitors the company’s development, while the CEO is responsible for execution of the strategy and for the daily operating activities together with the other members of the ICA Gruppen Management Team.

6 november 2018