Last year's activity

During the period from January 1, until December 31, 2016, the Board held ten scheduled meetings and one statutory meeting.

At all scheduled Board meetings, with the exception of the statutory Board meeting, the Board received a general report from the CEO and discussed the activities and financial results of the Company and the associated companies, as well as other ­pertinent projects and matters.

All meetings held during the year followed an approved agenda. Prior to each meeting, a proposed agenda and, where applicable, documents relevant to the items on the agenda were sent to the Board. The Company’s auditors attended the Board meeting in February 2016 to present the audit report and observations from the audit. At the Board meeting in June, which was held in Santiago, the Dominican Republic, the Board visited Swedish Match’s cigar factory and met the local management who presented the business.

The Board has in recent years devoted considerable time to work on the strategic assessment of Scandinavian Tobacco Group (STG). In 2015 the market was informed that Swedish Match, along with the other shareholder of STG, evaluated a possible IPO of the company. In early 2016, the intention to list STG on the Danish stock exchange was announced and in February 2016, STG was listed on Nasdaq Copen­hagen. In conjunction with the listing Swedish Match divested part of its holding of STG and in September the same year, Swedish Match divested additional shares in STG. In accordance with Swedish Match’s financial policy, the Board proposed that the excess cash derived from these divestments and which were not needed in the Company’s operations would be returned to shareholders. The Board therefore proposed to the AGM 2016 that a special dividend of 12 SEK per share should be distributed to the shareholders in addition to the ordinary dividend of 8 SEK per share. Further, the Board proposed to the Extraordinary ­General Meeting on December 16, 2016 that a special dividend of 9.50 SEK per share would be distributed to the shareholders, which was approved by the shareholders.

Composition of the Board and attendance 2016

Board of
Directors
Audit
Committee
Compensation
Committee
Total number of meetings 20161183
Members elected by the General Meeting
Conny Karlsson (Chairman)113
Charles A. Blixt113
Andrew Cripps (Deputy Chairman)118
Jacqueline Hoogerbrugge92
Wenche Rolfsen117
Meg Tivéus118
Joakim Westh118
Employee representatives
Kenneth Ek (until July 4, 2016)5
Eva Larsson8
Patrik Engelbrektsson10
Eva Norlén-Moritz (from July 4, 2016)6
Employee representatives (deputies)
Joakim Andersson10
Eva Norlén-Moritz (until July 4, 2016)4
Gert-Inge Rang10
Dragan Popovic (from July 4, 2016)5