The remuneration committee of the Board of Directors of Cavotec SA (the “Remuneration Committee”) consists of Erik Lautmann, chairman, Helena Thrap-Olsen, Patrick Tigerschiöld and is, inter alia, responsible for the remuneration of the Board of Directors and in discharging the Board of Directors responsibilities in relation to the remuneration for senior executives.
Please download the Remuneration committee statement below:
Please download Compensation Report 2017 below:
The objective of the Audit Committee is to assist the Board of Directors in discharging its responsibilities relative to financial reporting and regulatory compliance. Members of the Audit Committee shall exclusively comprise of members of the Board appointed by the latter in accordance with the Code. The Audit Committee will comprise of not less than three members with a majority to be Independent Directors of the Board. One member must have a financial or accounting background.
The current members of the Audit Committee of Cavotec SA are Heléne Mellquist (Chairman), Fabio Cannavale and Patrik Tigerschiöld.
The Company has not established a separate department for internal control. This task is performed by Audit Committee of the Board of Directors and the Board of Directors. Moreover, at Group level each Managing Director of a legal entity together with the legal and/or operational entity’s finance department and the Director of Internal Audit – reporting to the Chairman – is responsible for ensuring that the necessary controls are performed along with adequate monitoring. Internal controls comprise the control of the Company’s and Group’s organisation, procedures and remedial measures.
The object is to ensure reliable and correct financial reporting, and to ensure that the Company’s and Group’s financial reports are prepared in accordance with law and applicable accounting standards and that other requirements are complied with. The internal control system is also intended to monitor compliance with the Company’s and Group’s policies, principles and instructions. In addition, the control system monitors security for the Company assets and monitors that the Company’s resources are exploited in a cost-effective and adequate manner. Internal control also involves following up on the implemented information and business system, and risk analysis.