The task of the board of directors is to manage the company’s affairs on behalf of the shareholders. The board members are elected by the shareholders at the annual general meeting for the period up to the end of the next AGM.
In addition to laws and recommendations, H&M’s board work is regulated by the board’s work plan which contains rules on the distribution of work between the board, its committees and the CEO, financial reporting, investments and financing. The work plan, which also includes a work plan for the auditing committee, is established once a year. According to the articles of association, H&M’s board is to consist of at least three and no more than twelve members elected by the AGM and no more than the same number of deputies. The annual general meeting determines the exact number of board members.
H&M’s auditing committee is appointed annually by the board of directors. The auditing committee consists of Christian Sievert (chair) along with Anders Dahlvig and Erica Wiking Häger (members). The auditing committee monitors the company’s financial reporting, which includes monitoring the effectiveness of the company’s internal control and risk management. Its work includes handling auditing issues and financial reports published by the company.