Board of Directors’ report on the Remuneration Committee’s evaluation of remuneration of senior executives
The Board of Directors of Seco Tools AB has established a Remuneration Committee, which, from the 2010 Annual General Meeting, comprises the Chairman of the Board Anders Ilstam, also Chairman of the Committee, as well as Carl-Erik Ridderstråle and Peter Larson. The Remuneration Committee’s assignments include monitoring and evaluating programs for variable remunerations for executive management, the application of Seco Tool’s guidelines for remuneration to senior executives, and applicable remuneration structures and remuneration levels in the company. The Board of Directors, in accordance with rule 10.3 of the Swedish Code of Corporate Governance, hereby submits the following report on the results of the evaluation of the Remuneration Committee.
The Remuneration Committee believes that the company’s guidelines for remuneration to senior executives, adopted by the 2010 Annual General Meeting, have fulfilled their objectives and functioned well. The Committee also believes that the company’s remuneration structures and remuneration levels are well-balanced and market-based.
Seco Tools Aktiebolag (publ)
Board of Directors