PRESIDENT AND CHIEF EXECUTIVE OFFICER
The Board of Directors has established instructions for the division of duties between the Board and the CEO, and for financial reporting to the Board.
DEPUTY CHIEF EXECUTIVE OFFICERS
The NCC Group had two Deputy Chief Executive Officers in 2004: Olle Ehrlén, President of NCC Construction Sweden, and Mats Wäppling, President of NCC Property Development, who is also in charge of NCC Construction Germany and NCC International Projects. As of January 1, 2005, NCC International Projects is no longer a business area.
REMUNERATION TO THE CEO AND EXECUTIVE MANAGEMENT
During 2004, the Board considered the matter of whether to form a Remuneration Committee. However, it decided not to appoint such a committee but to manage such matters within the confines of regular Board work.
Remuneration for the CEO is decided by the Board. Remuneration for other members of Group Management is established by the CEO and approved by the Chairman of the Board. Remuneration for the CEO and other senior executives consists of a basic salary, variable compensation and other benefits such as pensions, etc.. Framework conditions for variable compensation are decided by the Board.
The term "other senior executives" pertains to the executives who, together with the CEO, constitute Group Management.