Governance

Shareholder meetings
The Annual General Meeting (AGM) of Shareholders is the highest decision-making body. The AGM for example elects the Board of Directors and the Chairman, adopts the balance sheet and income statement, decides on the disposition of the profit and the discharge of liability for the Directors and the CEO.

The Nomination Committee proposes a number of resolutions for the AGM to decide on, including relating to the election of the Board. Shareholders who wish to present proposals to the AGM can do so to the Nomination Committee.
Corporate governance reports
For every calendar year the company issues a corporate governance report, describing the corporate governance work.

The report is part of the Annual Financial Report, but is also presented stand-alone here.
Björn Borg Corporate Governance Report 2023
April 25, 2024
Henrik Bunge
CEO
Read bio
  • Recruited: 2014
  • Born: 1973
  • Education: LLB University of Uppsala, Sales - Management Harvard
  • Previous assignments: CEO of Peak Performance, Managing Director Group Area Nordic at Adidas and VP Sales and Marketing at Hästens sängar
  • See holdings here
Andreas Gran
Creative Director
Read bio
  • Recruited: 2019
  • Born: 1978
  • Previous assignments: Freelance stylist, Fashion Buyer H&M, Designer and Product Manager GANT, Head of Accessories Tiger of Sweden, Head of Design Menswear Tiger of Sweden, Head of Design Björn Borg.
  • See holdings here
Daniel Grohman
Global Operations Director
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  • Recruited: 2015
  • Born: 1975
  • Education: MBA
  • Previous assignments: Business Development Director Björn Borg, CFO Björn Borg, CFO & Buying Director at Efva Attling, Nordic Finance Director at Adidas Group Nordic.
  • See holdings here
Emma Bengtsson
Chief Marketing Officer
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  • Recruited: 2015
  • Born: 1989
  • Education: BA Strategic communication, Lund University. Strategic communication & PR, Berghs School of Communication.
  • Previous assignments: PR at Indiska, Global PR Manager, Brand Communications Manager, Björn Borg.
  • See holdings here
Jens Nyström
CFO
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  • Recruited: 2018
  • Born: 1973
  • Education: MBA
  • Previous assignments: CFO Haglöfs, Nordic Finance Director Sanofi Pasteur MSD, Nordic Finance Director SC Johnson.
  • See holdings here
Robin Salazar
Global E-commerce Director
Read bio
  • Recruited: 2017
  • Born: 1982
  • Education: Marketing Communications, Berghs SoC. Digital marketing, Hyper Island.
  • Previous assignments: Global E-commerce Manager at Peak Performance, CEO at Societ46, Agency Director at Britny.
  • See holdings here
Johanna Sevonius Södergren
Chief Commercial Officer
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  • Recruited: 2024
  • Born: 1988
  • Education: Masters degree in Accounting and Financial Mgmt, Stockholm School of Economics
  • Previous assignments: Chief Product Officer, Vitamin Well Group, Consultant at McKinsey & Company
  • See holdings here
Laura Tapia
Chief Product & Sustainability Officer
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  • Recruited: 2024
  • Born: 1980
  • Education: Bachelor of Science in Sports Technology - Mid University,  Design Management and Materials – Swedish School of Textiles
  • Previous assignments: Head of Design Peak Performance, Sourcing Manager Peak Performance, Product Manager Craft, Material Manager Craft, After Sales Manager GL&V (Valmet)
  • See holdings here

Management

Henier Olbrich
Chairman of the board
Read bio
  • Chairman of the board since 2017. Board member between 2015-2017.
  • Born: 1965
  • Education: BSc Econ from the University of Montpellier, MBA, “Diplom Kaufmann” from the University of Hamburg, and PhD in economics, St. Gallen, Switzerland
  • Other current assignments: Board member of Eckes Granini AG and Chairman of the board of Harvia Oyj.
  • Previous assignments: Chief Marketing and Sales Officer at Miele, Senior Vice President Global Sales at Adidas, VP Sales EMEA at Adidas, Partner Roland Berger Strategy Consultants.
  • See holdings here
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Alessandra Cama
Director
Read bio
  • Elected: 2018
  • Born: 1967
  • Education: L.U.I.S.S. (Libera Università degli Studi Sociali), Rome. LICEO SCIENTIFICO "Leonardo da Vinci", Reggio Calabria.
  • Other current assignments: Fr. Meyers Sohn Holding
  • Previous assignments: CEO of Zertus and ZRT. Managing Director Marketing & Sales at Warsteiner Brauerei, member of the Managing Board at GfK, partner at Roland Berger Strategy Consultants.
  • See holdings here
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Jens Høgsted
Director
Read bio
  • Elected: 2021
  • Born: 1972
  • Education: Master of Science, Technical University of Denmark
  • Other current assignments: CEO Karmameju and board member in Imerco Group, Laudrup Vin, and DAY ET.
  • Previous assignments: CEO Sportmaster and Sport Nordic Group (Holding), cofounder and partner Qvartz, partner and consultant Valtech and consultant Coopers & Lybrand. Previously also board member of Unisport, Svendsen Sport, Pack Tech, Ball Group, Change Lingerie and Bestseller Retail Europe
  • See holdings here
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Anette Klintfält
Director
Read bio
  • Elected: 2019
  • Born: 1963
  • Education: Architecture at KTH Royal Institute of Technology.
  • Other current assignments: Co-founder of Matter of Time. Consultant with a focus on Design and Creative Direction in the Fashion industry.
  • Previous assignments: Design work for GANT, Zalando, Klättermusen, Åhléns, H&M New Business, BRIO, SAS. Responsible for design at Polarn O. Pyret, Creative Manager for Dockers Levi’s, Designer Esprit de Corp, H&M Rocky. Director of NK Nära Kroppen.
  • See holdings here
  • Independent of the company/larger shareholders: Dependent of the company and management. Independent of major shareholders.
Fredrik Lövstedt
Director
Read bio
  • Director since 2017. Chairman 2005-2017. Director 2004-2005.
  • Born: 1956
  • Education: MSc Eng, KTH Royal Institute of Technology; MBA, INSEAD.
  • Other current assignments: Founder AlertSec Inc. CEO and major owner of Durator AB.
  • Previous assignments: Deputy CEO of Protect Data AB (1996–2001). Has run his own company since 1984.
  • See holdings here
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Mats H Nilsson
Director
Read bio
  • Elected: 1998
  • Born: 1955
  • Education: BSc Econ, Stockholm School of Economics
  • Other current assignments: -
  • Previous assignments: Former Executive Director of Swiss Bank Corporation, London, and Director of SG Warburg & Co Ltd, London.
  • See holdings here
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Johanna Schottenius
Director
Read bio
  • Elected: 2022
  • Born: 1981
  • Education: Master in finance (MSc) at HHS Gothenburg.
  • Other current assignments: Board member at Vertiseit AB (publ), Board member at BWH Hotel Group AB (Best Western Hotels), Board member at Whistleblowing Solutions AB.
  • Previous assignments: Johanna Schottenius has extensive experience from retail and business development. She has worked internationally within IKEA in several markets and has before that a background as a management consultant. Today Johanna is CEO of Schottenius & Partners AB, and board professional.
  • See holdings here
  • Independent of the company/larger shareholders: Independent of both the company and company management as well as major shareholders.

Board

Henier Olbrich
Chairman of the board
Read bio
  • Chairman of the board since 2017. Board member between 2015-2017.
  • Born: 1965
  • Education: BSc Econ from the University of Montpellier, MBA, “Diploma Kaufmann” from the University of Hamburg, and PhD in economics, St. Gallen, Switzerland
  • Other current assignments: Board member of Eckes Granini AG and Harvia Oyj.
  • Previous assignments: Chief Marketing and Sales Officer at Miele, Senior Vice President Global Sales at Adidas, VP Sales EMEA at Adidas, Partner Roland Berger Strategy Consultants.
  • Holdings: 60,000 shares / 0.24% capital & votes
  • Independent of the company/larger shareholders: Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Anette Klintfält
Director
Read bio
  • Elected: 2019
  • Born: 1963
  • Education: Architecture at KTH Royal Institute of Technology.
  • Other current assignments: Co-founder of Matter of Time. Consultant with a focus on Design and Creative Direction in the Fashion industry.
  • Previous assignments: Design work for GANT, Zalando, Klättermusen, Åhléns, H&M New Business, BRIO, SAS. Responsible for design at Polarn O. Pyret, Creative Manager for Dockers Levi’s, Designer Esprit de Corp, H&M Rocky. Director of NK Nära Kroppen.
  • Holdings: 10,000 shares / 0.04% capital & votes
  • Independent of the company/larger shareholders: Dependent of the company and management. Independent of major shareholders.
Johanna Schottenius
Director
Read bio
  • Elected: 2022
  • Born: 1981
  • Education: Master in finance (MSc) at HHS Gothenburg.
  • Other current assignments: CEO Schottenius & Partners AB, a company that develops start-up and scaleups. Board member of a number of tech companies, including Vertiseit AB, a retail tech company listed on First North.
  • Previous assignments: Global responsible for sustainability and strategic projects at IKEA Centers, All Channel Experience Manager IKEA Norway, Deputy Store Manager IKEA, management consultant at Ekan Management.
  • Holdings: 382,880 shares / 1.52% capital & votes
  • Independent of the company/larger shareholders: Independent of both the company and company management as well as major shareholders.
Fredrik Lövstedt
Director
Read bio
  • Director since 2017. Chairman 2005-2017. Director 2004-2005.
  • Born: 1956
  • Education: MSc Eng, KTH Royal Institute of Technology; MBA, INSEAD.
  • Other current assignments: Founder AlertSec Inc. CEO and major owner of Durator AB.
  • Previous assignments: Deputy CEO of Protect Data AB (1996–2001). Has run his own company since 1984.
  • Holdings: 950,040 shares / 3.78% capital & votes
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Henier Olbrich
Chairman of the board
Read bio
  • Chairman of the board since 2017. Board member between 2015-2017.
  • Born: 1965
  • Education: BSc Econ from the University of Montpellier, MBA, “Diploma Kaufmann” from the University of Hamburg, and PhD in economics, St. Gallen, Switzerland
  • Other current assignments: Board member of Eckes Granini AG and Harvia Oyj.
  • Previous assignments: Chief Marketing and Sales Officer at Miele, Senior Vice President Global Sales at Adidas, VP Sales EMEA at Adidas, Partner Roland Berger Strategy Consultants.
  • Holdings: 60,000 shares / 0.24% capital & votes
  • Independent of the company/larger shareholders: Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Alessandra Cama
Director
Read bio
  • Elected: 2018
  • Born: 1967
  • Education: L.U.I.S.S. (Libera Università degli Studi Sociali), Rome. LICEO SCIENTIFICO "Leonardo da Vinci", Reggio Calabria.
  • Other current assignments: CEO of Zertus and ZRT Fr. Meyers Sohn Holding
  • Previous assignments: Managing Director Marketing & Sales at Warsteiner Brauerei, member of the Managing Board at GfK, partner at Roland Berger Strategy Consultants.
  • Holdings: 20,000 shares / 0.08% capital & votes
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Alessandra Cama
Director
Read bio
  • Elected: 2018
  • Born: 1967
  • Education: L.U.I.S.S. (Libera Università degli Studi Sociali), Rome. LICEO SCIENTIFICO "Leonardo da Vinci", Reggio Calabria.
  • Other current assignments: CEO of Zertus and ZRT Fr. Meyers Sohn Holding
  • Previous assignments: Managing Director Marketing & Sales at Warsteiner Brauerei, member of the Managing Board at GfK, partner at Roland Berger Strategy Consultants.
  • Holdings: 20,000 shares / 0.08% capital & votes
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Jens Høgsted
Director
Read bio
  • Elected: 2021
  • Born: 1972
  • Education: Master of Science, Technical University of Denmark
  • Other current assignments: CEO Karmameju and board member in Imerco Group, Svendsen Sport, Pack Tech and DAY ET.
  • Previous assignments: CEO Sportmaster and Sport Nordic Group (Holding), cofounder and partner Qvartz, partner and consultant Valtech and consultant Coopers & Lybrand. Previosly also board member of Svendsen Sport, Pack Tech, Ball Group, Unisport, Change Lingerie and Bestseller Retail Europe.
  • Holdings: 11,500 shares / 0.05% capital & votes
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Mats H Nilsson
Director
Read bio
  • Elected: 1998
  • Born: 1955
  • Education: BSc Econ, Stockholm School of Economics
  • Other current assignments:
  • Previous assignments: Former Executive Director of Swiss Bank Corporation, London, and Director of SG Warburg & Co Ltd, London.
  • Holdings: 1,638,440 shares / 6.52% capital & votes
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Fredrik Lövstedt
Director
Read bio
  • Director since 2017. Chairman 2005-2017. Director 2004-2005.
  • Born: 1956
  • Education: MSc Eng, KTH Royal Institute of Technology; MBA, INSEAD.
  • Other current assignments: Founder AlertSec Inc. CEO and major owner of Durator AB.
  • Previous assignments: Deputy CEO of Protect Data AB (1996–2001). Has run his own company since 1984.
  • Holdings: 950,040 shares / 3.78% capital & votes
  • Independent of the company/larger shareholders: Independent from the company and management as well as from major shareholders.
Johanna Schottenius
Director
Read bio
  • Elected: 2022
  • Born: 1981
  • Education: Master in finance (MSc) at HHS Gothenburg.
  • Other current assignments: CEO Schottenius & Partners AB, a company that develops start-up and scaleups. Board member of a number of tech companies, including Vertiseit AB, a retail tech company listed on First North.
  • Previous assignments: Global responsible for sustainability and strategic projects at IKEA Centers, All Channel Experience Manager IKEA Norway, Deputy Store Manager IKEA, management consultant at Ekan Management.
  • Holdings: 382,880 shares / 1.52% capital & votes
  • Independent of the company/larger shareholders: Independent of both the company and company management as well as major shareholders.
Anette Klintfält
Director
Read bio
  • Elected: 2019
  • Born: 1963
  • Education: Architecture at KTH Royal Institute of Technology.
  • Other current assignments: Co-founder of Matter of Time. Consultant with a focus on Design and Creative Direction in the Fashion industry.
  • Previous assignments: Design work for GANT, Zalando, Klättermusen, Åhléns, H&M New Business, BRIO, SAS. Responsible for design at Polarn O. Pyret, Creative Manager for Dockers Levi’s, Designer Esprit de Corp, H&M Rocky. Director of NK Nära Kroppen.
  • Holdings: 10,000 shares / 0.04% capital & votes
  • Independent of the company/larger shareholders: Dependent of the company and management. Independent of major shareholders.

Board

Governance documents
Nomination committee

The Nomination Committee prepares and proposes resolutions for the AGM including proposals for the chairman, the members of the board, the board compensation, the chairman of the AGM, the audit fees, the rules for the Nomination Committee and the election of auditors.

The Nomination Committee for the 2025 AGM is appointed by the Chairman contacting the four largest shareholders per 31 August 2024, asking them to appoint one person each to participate in the Nomination Committee.

The Chairman have contacted the largest shareholders in accordance with the decided rules for the Nomination Committee and have established the Nomination Committee for the AGM 2025. The members of the Nomination Committee are:

  • Heiner Olbrich, Chairman of the Board
  • Mathias Nimlin, appointed by Martin Bjäringer
  • Mats Nilsson, appointed by himself as a shareholder
  • André Schottenius, appointed by the Schotteniusfamiljen
  • Thomas Eklund, appointed by himself as a shareholder

E-mail: [email protected]

The boards work

Board of Directors

In accordance with the Articles of Association, Björn Borg’s Board of Directors consists of a minimum of four and a maximum of eight members. Directors are elected annually at the Annual General Meeting (AGM) for a one-year term up until the following AGM.

The AGM 2024 re-elected the Directors Alessandra Cama, Anette Klintfält, Fredrik Lövstedt, Mats H Nilsson, Jens Høgsted, Johanna Schottenius and Heiner Olbrich. The AGM 2024 resolved to re-elect Heiner Olbrich as Chairman of the Board of Directors.

The Board meets the requirements of the Code in that a majority of the directors must be independent in relation to the company and the company management, and that at least two of them must be independent in relation to the company’s major shareholders. Prior to the 2023 Annual General Meeting, the Nomination Committee made the assessment that all the proposed Board members were independent of both the company and its management as well as the major shareholders.

An annual board review, one of the aims of which is to analyse the Board’s work and whether the Board has a composition appropriate for the company’s needs, was conducted within the company during the latter part of the fourth quarter, and its conclusions were presented in their entirety to the Nomination Committee.

The Board is assisted by an attorney, who serves as external secretary. For more information on the Directors, see the Board presentation.

The board’s rules of procedure

Pursuant to the Companies Act, Björn Borg’s Board is responsible for the company’s organisation and the management of its affairs and appoints its CEO. The Board lays down the company’s goals and strategy, adopts critical policy documents and continuously monitors compliance thereto. The Board also has ultimate responsibility for its various committees. The Board’s rules of procedure, which were adopted most recently at the Board meeting on August 15, 2024, define the principles for Board work, the delegation between the Board and the CEO, and the financial reporting.

Board work

In 2023 the Board held six scheduled meetings, four of which were in connection with the quarterly financial reports and two by circulation. For further information about the Board’s work and directors’ attendance at the year’s Board meetings please refer to the Corporate Governance Report.

Please note that the Corporate Governance Report is a separate report, and not part of the Board of Directors’ report.

Renumeration committee

The Board has established a Remuneration Committee consisting of Heiner Olbrich, Mats H. Nilsson and Fredrik Lövstedt to prepare proposals on remuneration and other terms of employment for Senior Executives. During the year prior to the AGM 2024, the Remuneration Committee held one meeting as well as informal meetings and contacts in between. During the year the Remuneration Committee, which is only a drafting committee, amongst other things (i) prepared the Board’s resolutions on remuneration principles, remuneration and other employment terms for company management, (ii) monitored and evaluated current and expiring remuneration schemes for management, and (iii) monitored and evaluated the application of the remuneration guidelines for senior executives as resolved by the AGM as well as current remuneration structures and remuneration levels in the company (iiii) presented a proposal for new remuneration guidelines for senior executives to be decided by the 2024 AGM.

Audit committee

Björn Borg’s Board of Directors has established an Audit Committee consisting of Chairman Heiner Olbrich, Mats H Nilsson and Fredrik Lövstedt. The Audit Committee supports the Board in efforts to quality assure Björn Borg’s financial reports and is tasked with, among other things, ensuring that accurate, qualitative financial reports are prepared and communicated.

The Audit Committee is also tasked with issuing a recommendation to the Nomination Committee on the auditors’ election. The committee convened a total of four times in 2023, all in connection with the quarterly reports. All of the Committee’s members attended these. In 2023 the CEO attended the meetings as a co-opted member. The Audit Committee is a drafting committee.

CEO

The Board has established an instruction for the CEO’s work and role, which in its current wording was adopted on August 15, 2024. The CEO is responsible for day-to-day management of the Group’s operations according to the Board’s guidelines and other established policies and guidelines, and reports to the Board.

Henrik Bunge (b. 1973) has been CEO since August 4, 2014. He does not own shares in any company with which Björn Borg has significant business interests. For more information on the CEO, see page 95 of the annual report.

Remuneration

The Annual General Meeting (AGM) resolves on compensation to the Board, including for committee work, and on Guidelines for compensation for Senior Executives.

Compensation to senior executives and the CEO is addressed by the Compensation Committee based on said Guidelines and resolved by the Board.

Compensation to Board

According to the resolution of the AGM 2024 Directors shall receive remuneration in accordance with the proposal of the nomination committee (with (i) SEK 193,000 to each of the Directors and SEK 455,000 to the Chairman of the Board, (ii) with SEK 21,000 for each of the members of the Compensation Committee and SEK 42,000 to the Chairman of the Committee, and (iii) SEK 59,000 to each of the members of the Audit Committee and SEK 86,000 to the Chairman of the Committee.

Compensation to senior executives

According to the resolution of the AGM 2024 new guidelines for renumeration was adopted. The guidelines prescribe e.g. that the remuneration for the CEO and other members of management can consist of a base salary, variable compensation, and other benefits, including a pension. Any variable compensation is based on performance relative to predefined, measurable targets and is maximized to 50% of the target salary.

The fixed and variable salary components and benefits for the CEO and the management of Björn Borg are indicated in Note 8 of the annual report.

For the complete remuneration guidelines for senior executives, please refer to the following link.

For more detailed information about remunerations paid out in 2023, please refer to the following link.

Incentive scheme

Incentive program, LTIP 2023/2026

The Annual General Meeting 2023 resolved to implement a new long-term incentive program, LTIP 2023/2026, which can be described as a warrant-based program whereby senior executives and other key employees have acquired warrants issued by Björn Borg.

Björn Borg has a maximum right to issue 300,000 warrants, and today 270,000 warrants have been transferred to employees. Each warrant entitles the holder to subscribe for one new share in Björn Borg and may be exercised from and including 18 May 2026 up to and including one day that falls 30 calendar days thereafter, whereby the subscription price as a general rule is SEK 54.70 per share (however, participants may choose to apply a so-called net strike, whereby both the subscription price and the number of shares are recalculated). The value of the warrants has been calculated by the generally accepted valuation model, Black & Scholes, and calculated by Elleme AB. For more detailed information about the LTIP 202372026, please refer to the following links for the LTIP proposal and the terms for the LTIP.

Incentive program, LTIP 2023/2026

Terms for incentive program, LTIP 2023/2026

Traded share price
Payout
SEK 35
25% of base salary
SEK 40
100% of base salary
SEK 50
120% of base salary
SEK 60
140% of base salary
SEK 70
160% of base salary
The company's auditors

The external auditors review Björn Borg’s annual accounts, accounting records and the administration of the Board of Directors and the CEO. After every financial year, the auditors submit an audit report to the AGM.

The AGM 2021 elected the registered public accounting firm BDO Mälardalen AB as auditor of the company until the conclusion of the next AGM. Authorised Public Accountant Johan Pharmanson is chief auditor.

The next auditors’ election will be held at the 2022 AGM.

Further information on the auditor’s fee can be found in the company’s Annual Report.

Articles of association

§ 1

Company name

The Company conducts its business under the name Björn Borg AB. The company is public (publ).

§ 2

Registered office

The registered office of the Board of Directors is in Stockholm.

§ 3

Operations

The object of the company’s business shall be to directly or through wholly owned or partly owned companies, own, manage and commercialize (including through licensing), and develop the brand Björn Borg, and pursue therewith compatible business.

§ 4

Share capital

The share capital shall amount to no less than seven million (7,000,000) Swedish kronor and no more than twenty-eight million (28,000,000) Swedish kronor.

§ 5

Number of shares

The number of shares shall amount to no less than twenty-two million, four hundred thousand (22,400,000) and no more than eighty-nine million, six hundred thousand (89,600,000).

§ 6

Board of Directors

The Board of Directors shall consist of no fewer than four and no more than eight Directors with no more than two Deputy Directors. The Directors and Deputy Directors are elected annually at the Annual General Meeting for a term ending at the conclusion of the following Annual General Meeting.

§ 7

Auditors

The Company shall have one (1) or two (2) Auditors with no more than two Deputies, or one (1) registered public accounting firm.

§ 8

Notice convening the General Meeting

Notice convening general meetings shall be given by announcement in Post- och Inrikes Tidningar and on the company’s web site. It shall be announced in Svenska Dagbladet that notice of general meeting has been made.

§ 9

Notification of attendance and right to attend the General Meeting

Shareholders wishing to attend a general meeting must notify the Company no later than on the date indicated in the notice convening the general meeting. This day may not be a Sunday, another public holiday, Saturday, Midsummer Eve, Christmas Eve or New Year’s Eve and may not fall earlier than five weekdays prior to the general meeting.

A shareholder may be accompanied by one or two assistants when attending a General Meeting, but only if the shareholder’s notification pursuant to the previous paragraph includes information to that effect.

The board of directors has the right to decide that anyone who is not a shareholder in the company shall, under the terms determined by the board of directors, have the right to attend or otherwise follow the negotiations at a general meeting.

Prior to a general meeting, the board of directors may decide that the shareholders shall be able to exercise their voting rights in advance (postal voting) in accordance with the procedure specified in Chapter 7, Section 4 a of the Swedish Companies Act (2005:551).

§ 10

Annual General Meeting

The Annual General Meeting, which shall be held each year within six months of the conclusion of the financial year, shall deal with the following matters:

  1. Election of a Chairman at the General Meeting;
  2. Preparation and approval of a voting list;
  3. Election of one or two persons to check the minutes;
  4. Examination whether the Meeting has been properly convened;
  5. Approval of the agenda;
  6. Presentation of the Annual Report and the Auditors’ Report and, where applicable, of the Consolidated Accounts and the Auditors’ Report on the Group;
  7. Resolutions in respect of:
  • a) Adoption of the income statement and the balance sheet and, where applicable, of the consolidated income statement and the consolidated balance sheet;
  • b) Appropriation of the Company’s profit or loss according to the adopted balance sheet;
  • c) The Directors’ and the President’s discharge from liability;
  1. Determination of the remuneration payable to the Board of Directors and, where applicable, to the Auditors;
  2. Election of Directors and, where applicable, of Deputy Directors;
  3. Election, where applicable, of Auditors and Deputy Auditors;
  4. Other matters which shall be dealt with at the Meeting according to the Swedish Companies Act (2005:551) or these Articles of Association.

In addition to the place where the board of directors has its registered office, the annual general meeting may also be held in Solna.

§ 11

Financial year

The financial year of the Company shall be the calendar year.

§ 12

Record day provisions

The Company’s shares shall be registered in a central securities depository register pursuant to the Financial Instruments Accounts Act (1998:1479).

The shareholder or nominee who on the record date is entered in the share register and noted in a central securities depository register in accordance with Chapter 4 of the Swedish Central Securities Depositories and Financial Instruments Accounts Act (1998:1479) or the individual who is recorded in a central securities depository account according to Chapter 4, Section 18, first paragraph 6-8 of the said Act, shall be deemed to be competent to exercise the rights that follow from Chapter 4. Section 39 of the Swedish Companies Act (2005:551).

_______________________________

The above Articles of Association have been adopted by the Annual General Meeting on May 18 2021.

Related documents

Corporate governance description

Björn Borg applies the Swedish Code of Corporate Governance.

Corporate governance refers to the framework of rules and structure established for governing and managing operations in a limited liability company in an efficient and controlled manner. Ultimately, corporate governance is intended to satisfy the shareholders’ requirements for return on investment and other stakeholders’ needs for information on the company and its development.

Management and control of the Björn Borg Group is distributed between the shareholders at the Annual General Meeting, the Board of Directors and the CEO in accordance with the Swedish Company’s Act and the company’s Articles of Association.

Valberedning

Valberedningen lägger fram förslag inför årsstämman avseende styrelseordförande, styrelseledamöter, styrelsearvode, ordförande vid stämman, arvodering av revisorer och val av revisorer, samt förslag till regler för valberedningen.

För årsstämman 2024 föreslår valberedningen att styrelsen ska bestå av sju ledamöter. Valberedningen föreslår omval av nuvarande styrelseledamöterna Alessandra Cama, Anette Klintfält, Fredrik Lövstedt, Mats H Nilsson, Heiner Olbrich, Jens Høgsted samt Johanna Schottenius. Till styrelseordförande föreslås omval av Heiner Olbrich.

Valberedningens övriga förslag kommer att presenteras i kallelsen till årsstämman.

Valberedningen inför årsstämman 2024 består av:

  • Mathias Nimlin (utsedd av Martin Bjäringer)
  • Mats H Nilsson (utsedd av sig själv)
  • Thomas Eklund (utsedd av sig själv)
  • André Schottenius (utsedd av Schottenius familjen)
  • Heiner Olbrich (styrelseordförande)

E-post: [email protected]

Styrelsens arbete

Björn Borgs styrelse

Björn Borgs styrelse ska enligt bolagsordningen bestå av lägst fyra och högst åtta ledamöter. Ledamöterna väljs årligen på årsstämman för tiden intill slutet av nästa årsstämma. 

Vid årsstämman 2023 omvaldes till styrelseledamöter Alessandra Cama, Anette Klintfält, Fredrik Lövstedt, Mats H Nilsson, Jens Høgsted, Johanna Schottenius och Heiner Olbrich. Heiner Olbrich omvaldes till styrelsens ordförande. 

Bolagets styrelse uppfyller kraven i Koden om att en majoritet av ledamöterna ska vara oberoende i förhållande till bolaget och bolagsledningen, och att minst två av dessa ledamöter ska vara oberoende i förhållande till bolagets större aktieägare. Inför årsstämman 2023 gjorde valberedningen bedömningen att samtliga föreslagna styrelseledamöter var oberoende från såväl bolaget och bolagsledningen som från större aktieägare. 

En årlig styrelseutvärdering, som bland annat siktar på att kartlägga hur styrelsearbetet fungerar och om styrelsen har en sammansättning som är ändamålsenligt för bolagets behov, har skett inom bolaget under det fjärde kvartalet och slutsatserna har i sin helhet redovisats för valberedningen. Styrelsen biträds av en advokat som extern styrelsesekreterare. 

För övrig information om styrelseledamöterna hänvisas till sid 94 i årsredovisningen. För övrig information om styrelseledamöterna hänvisas till presentationen av styrelsen.

Styrelsens arbetsrutiner

Av aktiebolagslagen följer att Björn Borgs styrelse svarar för bolagets organisation och förvaltningen av bolagets angelägenheter samt utser bolagets verkställande direktör. Styrelsen fastställer bolagets mål och strategi och antar väsentliga policydokument samt övervakar kontinuerligt efterlevnaden av dessa. Styrelsen har vidare det yttersta ansvaret för de olika styrelseutskotten. Styrelsens arbetsordning, vilken senast fastställdes vid styrelsemöte den 15 augusti 2024, fastställer principerna för styrelsearbetet, arbetsfördelningen mellan styrelsen och den verkställande direktören samt för den ekonomiska rapporteringen.

Styrelsens arbete

Styrelsen hade under 2023 sex möten, varav fyra i samband med den kvartalsvisa finansiella rapporteringen och två möte per capsulam. Styrelseledamöternas närvaro vid årets styrelsemöten framgår av tabellen nedan. 

Observera att bolagsstyrningsrapporten inte är en del av förvaltningsberättelsen utan en separat rapport.

Ersättningsutskott

Styrelsen har inrättat ett ersättningsutskott bestående av Heiner Olbrich, Mats H Nilsson och Fredrik Lövstedt, för beredning av frågor rörande ersättningar och andra anställningsvillkor för bolagsledningen. Ersättningsutskottet har fram till årsstämman 2024 haft ett protokollfört möte, samt informella möten och kontakter däremellan. Utskottet, som endast har en beredande funktion, har under året bland annat (i) berett styrelsens beslut i frågor om ersättningsprinciper, ersättningar och andra anställningsvillkor för bolagsledningen, (ii) följt och utvärderat pågående och under året avslutade program för rörliga ersättningar för bolagsledningen, samt (iii) följt och utvärderat tillämpningen av de riktlinjer för ersättningar till ledande befattningshavare som årsstämman fastställt samt gällande ersättningsstrukturer och ersättningsnivåer i bolaget.

Revisionsutskott

Björn Borgs styrelse har inrättat ett revisionsutskott bestående av styrelseordföranden Heiner Olbrich, Mats H Nilsson samt Fredrik Lövstedt. Revisionsutskottet stödjer styrelsen i dess arbete med att kvalitetssäkra Björn Borgs finansiella rapportering och har bland annat till uppgift att säkerställa att en korrekt finansiell rapportering av hög kvalitet upprättas och kommuniceras.

Revisionsutskottet har också till uppgift att avge en rekommendation till valberedningen i fråga om revisorsval. Utskottet hade under 2024 totalt fyra sammanträden, samtliga i anslutning till kvartalsrapporterna. Alla utskottets ledamöter närvarade vid dessa sammanträden. VD har under 2023 som så kallad adjungerad ledamot deltagit under mötena. Utskottet har endast en beredande funktion.

Verkställande direktören

Styrelsen har fastställt en instruktion för verkställande direktörens arbete och roll, som i nuvarande lydelse fastställdes den 15 augusti 2024. Verkställande direktören har ansvaret för den löpande förvaltningen av koncernens verksamhet enligt styrelsens riktlinjer och övriga fastställda policies och riktlinjer och rapporterar till styrelsen.

Henrik Bunge (1973) är verkställande direktör sedan den 4 augusti 2014. Han äger inga aktier i företag med vilka Björn Borg har betydande affärsförbindelser. För övrig information om verkställande direktören hänvisas till sid 95 i årsredovisningen.

Ersättningar

Årsstämman (AGM) beslutar om ersättning till styrelsen, inklusive för utskottsarbete, samt om riktlinjer för ersättning till ledande befattningshavare.
Ersättning till ledande befattningshavare och VD hanteras av ersättningsutskottet baserat på dessa riktlinjer och fastställs av styrelsen.

Ersättning till styrelsen

Enligt beslut på årsstämman 2024 ska styrelseledamöterna erhålla ersättning i enlighet med förslaget från valberedningen, med (i) 193 000 SEK till var och en av ledamöterna och 455 000 SEK till styrelseordföranden, (ii) 21 000 SEK till var och en av ersättningsutskottets ledamöter och 42 000 SEK till utskottets ordförande, och (iii) 59 000 SEK till var och en av revisionsutskottets ledamöter och 86 000 SEK till utskottets ordförande.

Ersättning till ledande befattningshavare

Enligt beslut på årsstämman 2024 antogs nya riktlinjer för ersättning. Riktlinjerna föreskriver till exempel att ersättningen för VD och andra ledande befattningshavare kan bestå av en grundlön, rörlig ersättning och andra förmåner, inklusive pension. All eventuell rörlig ersättning baseras på prestationer i förhållande till fördefinierade, mätbara mål och är maximerad till 50 % av mållönen.
Den fasta och rörliga lönedelen samt förmåner för VD och ledningen för Björn Borg anges i not 8 i årsredovisningen.
För fullständiga riktlinjer för ersättning till ledande befattningshavare, vänligen se följande länk.
För mer detaljerad information om utbetalda ersättningar under 2023, vänligen se följande länk.

Incitamentsprogram

Incitamentsprogram, LTIP 2023/2026

Årsstämman 2023 beslutade att implementera ett nytt långsiktigt incitamentsprogram, LTIP 2023/2026, vilket kan beskrivas som ett teckningsoptionsprogram där ledande befattningshavare och andra nyckelpersoner har förvärvat teckningsoptioner som utfärdats av Björn Borg.

Björn Borg har rätt att utfärda maximalt 300 000 teckningsoptioner, och idag har 270 000 optioner överförts till anställda. Varje option ger innehavaren rätt att teckna en ny aktie i Björn Borg och kan utnyttjas från och med den 18 maj 2026 till och med en dag som infaller 30 kalenderdagar därefter, där teckningskursen som huvudregel är 54,70 SEK per aktie (dock kan deltagare välja att tillämpa en så kallad nettostrike, där både teckningskursen och antalet aktier omräknas). Värdet på optionerna har beräknats enligt den allmänt accepterade värderingsmodellen, Black & Scholes, och beräknats av Elleme AB. För mer detaljerad information om LTIP 2023/2026, vänligen se följande länkar för LTIP-förslaget och villkoren för LTIP.
Incitamentsprogram, LTIP 2023/2026
Villkor för incitamentsprogram, LTIP 2023/2026

Aktiekurs
Utbetalning
SEK 35
25% av årslönen
SEK 40
100% av årslönen
SEK 50
120% av årslönen
SEK 60
140% av årslönen
SEK 70
160% av årslönen
Revision

De externa revisorerna ska granska Björn Borgs årsredovisning och bokföring samt styrelsens och den verkställande direktörens förvaltning. Revisorerna ska efter varje räkenskapsår lämna en revisionsberättelse till årsstämman.

Vid årsstämman 2021 utsågs det registrerade revisionsbolaget BDO Mälardalen AB till revisor i bolaget för tiden intill slutet av nästkommande årsstämma. Den auktoriserade revisorn Johan Pharmanson är huvudansvarig revisor.

Val av revisorer kommer nästa gång att göras vid årsstämman 2022.

Vidare information om revisorerna, inklusive deras arvode, finns i årsredovisningen.

Bolagsordning

§ 1

Företagsnamn

Bolaget driver sin rörelse under företagsnamnet Björn Borg AB. Bolaget är publikt (publ).

§ 2

Styrelsens säte

Styrelsen skall ha sitt säte i Stockholms kommun.

§ 3

Verksamhet

Bolagets verksamhet skall vara att, direkt eller genom hel- eller delägda bolag, äga, förvalta och kommersialisera (inklusive genom upplåtelse) och utveckla varumärket Björn Borg samt idka därmed förenlig verksamhet.

§ 4

Aktiekapital

Aktiekapitalet skall utgöra lägst sju miljoner (7.000.000) kronor och högst tjugoåtta miljoner (28.000.000) kronor.

§ 5

Akties antal

Antalet aktier skall vara lägst tjugotvå miljoner fyrahundratusen (22.400.000) och högst åttionio miljoner sexhundratusen (89.600.000).

§ 6

Styrelse

Styrelsen skall bestå av lägst fyra och högst åtta ledamöter med högst två suppleanter. Ledamöterna och suppleanterna väljes årligen på ordinarie bolagsstämma för tiden intill slutet av nästa ordinarie bolagsstämma.

§ 7

Revisorer

Bolaget skall ha en (1) eller två (2) revisorer med högst två (2) suppleanter, alternativt ett (1) registrerat revisionsbolag.

§ 8

Kallelse till bolagsstämma

Kallelse till bolagsstämma skall ske genom annonsering i Post- och Inrikes Tidningar samt på bolagets webbplats. Att kallelse skett skall annonseras i Svenska Dagbladet.

§ 9

Anmälan om, samt rätt till deltagande i bolagsstämma

Aktieägare som vill delta i förhandlingarna vid bolagsstämma skall anmäla detta till bolaget senast den dag som anges i kallelsen till stämman. Denna dag får ej vara söndag, annan allmän helgdag, lördag, midsommarafton, julafton eller nyårsafton och inte heller infalla tidigare än femte vardagen före stämman.

Aktieägare får medföra ett eller två biträden till bolagsstämman endast om aktieägare på sätt som anges i föregående stycke anmäler antal biträden denne har för avsikt att medföra.

Styrelsen äger besluta att den som inte är aktieägare i bolaget ska, på de villkor som styrelsen bestämmer, ha rätt att närvara eller på annat sätt följa förhandlingarna vid bolagsstämma.

Styrelsen får inför en bolagsstämma besluta att aktieägarna skall kunna utöva sin rösträtt på förhand (poströstning) enligt det förfarande som anges i 7 kap. 4 a § aktiebolagslagen (2005:551).

§ 10

Årssstämma

Vid årsstämma som skall hållas årligen inom sex månader efter räkenskapsårets utgång, skall följande  ärenden förekomma:

  1. Val av ordförande vid stämman;
  2. Upprättande och godkännande av röstlängden;
  3. Val av en eller två personer att jämte ordföranden justera stämmans protokoll;
  4. Prövning av om stämman blivit behörigen sammankallad;
  5. Godkännande av dagordning;
  6. Framläggande av årsredovisningen och revisionsberättelsen samt, i förekommande fall, koncernredovisningen och koncernrevisionsberättelsen;
  7. Beslut om
  • fastställelse av resultaträkningen och balansräkningen samt,
  • i förekommande fall, koncernresultaträkningen och koncernbalansräkningen;
  • dispositioner beträffande bolagets vinst eller förlust enligt den fastställda balansräkningen;
  • ansvarsfrihet för styrelseledamöterna och verkställande direktören när sådan förekommer;
  1. Bestämmande av arvoden till styrelsen och, i förekommande fall, revisorer;
  2. Val av styrelseledamöter och, i förekommande fall, styrelsesuppleanter;
  3. Val, i förekommande fall, av revisor och revisorssuppleant;
  4. Annat ärende, som ankommer på stämman enligt aktiebolagslagen (2005:551) eller bolagsordningen.

Utöver i den ort där styrelsen har sitt säte, får bolagsstämma även hållas i Solna.

§ 11

Räkenskapsår

Kalenderåret skall utgöra bolagets räkenskapsår.

§ 12

Avstämningsförbehåll

Bolagets aktier skall vara registrerade i ett avstämningsregister enligt lagen (1998:1479) om kontoföring av finansiella instrument.

Den aktieägare eller förvaltare som på avstämningsdagen är införd i aktieboken och antecknad i ett avstämningsregister enligt 4 kap. lagen (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument eller den som är antecknad på avstämningskonto enligt 4 kap. 18 § första stycket 6-8 nämnda lag skall antas vara behörig att utöva de rättigheter som följer av 4 kap. 39 § aktiebolagslagen (2005:551).

_______________________________

Ovanstående bolagsordning har antagits vid årsstämman den 18 maj 2021.

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Björn Borg tillämpar svensk kod för bolagsstyrning från och med den 1 juli 2007.

Bolagsstyrning avser det regelverk och den struktur som etablerats för att på ett effektivt och kontrollerat sätt styra och leda verksamheten i ett aktiebolag. Ytterst syftar bolagsstyrningen till att tillgodose aktieägarnas krav på avkastning och samtliga intressenters behov av information om bolaget och dess utveckling.

Ledning och kontroll av Björn Borg koncernen fördelas mellan aktieägarna på årsstämman, styrelsen och verkställande direktören i enlighet med svensk aktiebolagslag och bolagsordning.

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