The Board of Directors of Lundin Energy is responsible for the organisation of the Company and management of the Company’s operations. The Board is to manage the Company’s affairs in the interests of the Company and all shareholders with the aim of creating long-term shareholder value.
Board of Directors duties and committees
The Board of Directors of Lundin Energy should at all times have an appropriate composition considering the current and expected development of the operations, with Board members from a wide range of backgrounds that possess both individually and collectively the necessary experience and expertise. An even gender distribution should be pursued.
Principal tasks of the Board of Directors
- Establishing the overall goals and strategy of the Company.
- Making decisions regarding the supply of capital.
- Identifying how the Company’s risks and business opportunities are affected by sustainability aspects.
- Appointing, evaluating and, if necessary, dismissing the CEO.
- Ensuring that there is an effective system for follow-up and control of the Company’s operations and the risks to the Company that are associated with its operations.
- Ensuring that there is a satisfactory process for monitoring the Company’s compliance with laws and other regulations relevant to the Company’s operations, as well as the application of internal guidelines.
- Defining necessary guidelines to govern the Company’s conduct in society, with the aim of ensuring its longterm value creation capability.
- Ensuring that the Company’s external communications are characterised by openness, and that they are accurate, reliable and relevant.
- Ensuring that the Company’s organisation in respect of accounting, management of funds and the Company’s financial position in general include satisfactory systems of internal control.
- Continuously evaluating the Company’s and the Group’s economic situation, including its fiscal position.