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Remuneration Committee

Remuneration Committee

The Board has appointed a Remuneration Committee to deal with remuneration matters more in-depth.

Among other tasks, the Remuneration Committee sets salaries, variable remuneration and other terms of employment for all members of Axfood’s Executive Committee except for the President and CEO, whose terms are decided on by the Board as a whole based on a recommendation by the Remuneration Committee. The Remuneration Committee is responsible for monitoring and evaluating the application of the guidelines for remuneration to senior executives adopted by the AGM. The Remuneration Committee is also responsible for drafting proposals for any share-based incentive programmes, deciding who shall be invited to participate in these and making proposals to the Board on decisions to allot shares in such incentive programmes. The committee is also tasked with monitoring and evaluating
variable remuneration programmes for senior executives.

Early on every year, the Remuneration Committee sets the targets to apply for variable remuneration for members of the Executive Committee, excluding the President and CEO.

As of the start of 2023, the members of the Remuneration Committee were Mia Brunell Livfors (Committee Chairman), Caroline Berg and Peter Ruzicka. As of the AGM, Peter Ruzicka was replaced by Fabian Bengtsson. Axfood’s President and CEO is a co-opted member of the Remuneration Committee, and Axfood’s Head of Human Resources is committee secretary. The Remuneration Committee drafted a proposal for the Board to introduce an additional long-term share-based incentive programme for key persons in Axfood.

The Remuneration Committee held five meetings in 2023. The committee’s members were paid a fee in accordance with the AGM’s resolution for work on the Remuneration Committee.