Last year's activity

During the period from January 1, until December 31, 2017, the Board held eight 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 2017 to present the audit report and observations from the audit. At the Board meeting in June, which was held in Gothenburg, Sweden, the Board visited Swedish Match’s snus factories in Gothenburg and Kungälv, as well as visiting the Swedish Match snus store located in Gothenburg. In conjunction with the Board meeting in October, which was held in Los Angeles, the Board conducted store visits, and in addition business reviews were presented by the US sales organization.

Issues covered by the Board in 2017 included, among other things the sale of Swedish Match’s holding in Scandinavian Tobacco Group (STG) and the acquisition of V2 Tobacco. The sell downs of shares in STG, both completed through accelerated book building processes to institutional investors, were executed in January 2017, when Swedish Match sold 9.1 percent of the total number of shares and votes in STG, and in November 2017 when the remaining 9.1 million shares were sold. In September 2017, Swedish Match acquired V2 Tobacco, a privately held smokeless tobacco company, primarily active in Europe. V2 Tobacco is headquartered in Silkeborg, Denmark. Furthermore, a new e-commerce service was launched during the year enableing people living in Sweden and Switzerland to order the entire snus range online. Swedish Match further expanded the distribution of ZYN, a nicotine pouch product without tobacco, in the western US. It was also decided to invest over 40 MUSD into US production capacity of ZYN.

Composition of the Board and attendance 2017

Board of
Directors
Audit
Committee
Compensation
Committee
Total number of meetings 2017965
Members elected by the General Meeting
Conny Karlsson (Chairman)95
Andrew Cripps (Deputy Chairman)96
Charles A. Blixt74
Jacqueline Hoogerbrugge95
Pauline Lindwall (from May, 2017)7
Wenche Rolfsen96
Meg Tivéus (until May, 2017)13
Joakim Westh96
Employee representatives
Patrik Engelbrektsson9
Eva Larsson9
Eva Norlén-Moritz (until May, 2017)1
Dragan Popovic (deputy until May, 2017)8
Employee representatives (deputies)
Joakim Andersson8
Niclas Ed (from June, 2017)6
Gert-Inge Rang9