Board of directors

Board of directors

The task of the Board of Directors is to manage the company’s affairs on behalf of the shareholders. The Board members are elected by the shareholders at the Annual General Meeting for the period up to the end of the next AGM.

The Board of Directors

From the Annual Report 2013.

In addition to laws and recommendations, H&M'€™s Board work is regulated by the Board'€™s work plan which contains rules on the distribution of work between the Board, its committees and the Managing Director, financial reporting, investments and financing. The work plan, which also includes a work plan for the Auditing Committee, is established once a year.

According to the Articles of Association, H&M'€™s Board is to consist of at least three and no more than twelve members elected by the AGM and no more than the same number of deputies. The Annual General Meeting determines the exact number of Board members.

Board meetings

During the financial year H&M normally holds six regular Board meetings, one of which is the statutory Board meeting. Extraordinary Board meetings are held when the need arises. The Board consists of eight ordinary members elected by the Annual General Meeting. There are also two employee representatives, with two deputies for these positions. Seven members of the Board are women and five are men; four of the twelve are employed by the company. The Board is assisted by a secretary who is not a member of the Board.

The Board meetings begin with a discussion of the company’s financial situation, with costs and sales as the main focus. The Board goes through the various financial reports and the Annual Report and verifies these before they are published. The Board meetings also discuss matters such as overall strategy, expansion and dividend policy. The Managing Director attends meetings of the Board in order to report on the operational work within the Group and ensures that the Board is given relevant and objective information on which to base its decisions.

Attendance at the Board meetings is very good and the members participate in all discussions. Accounting matters are dealt with in detail within the Auditing Committee and reported back to the Board.

Board of directors

Stefan Persson

Chairman of the Board

Born Year Selected Primary occupation
1947 1979 Chairman of the board

 

Other significant board assignments
Member of the Association of MSAB and board assignments in family-owned companies.

Education
Stockholm University & Lund University, 1969–1973.

Work experience

1967-1982   Country Manager for H&M in the UK and responsible for H&M’s expansion abroad
1982-1998   Managing Director and Chief Executive Officer of H&M
1998–
  Chairman of the Board of H&M

Shareholding
0

Shares held by related parties
194,400,000 A-shares as well as 393,049,043 B-shares owned through Ramsbury Invest AB.

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance
No

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance
No

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Anders Dahlvig

Board member and member of the Auditing Committee

Born Year selected Primary occupation
1957 2010 Board assignments

Other significant board assignments
Chairman of the New Wave Group. Member of the Board of Kingfisher plc, Oriflame SA, Axel Johnson AB, Resurs Bank AB and Pret A Manger.

Education

Bachelor of Science degree in Business Administration, Lund University 1980
Masters of Arts degree in Economics, University of California Santa Barbara, 1982

Work experience

1983-1993   Various roles within IKEA in Sweden, Germany, Switzerland and Belgium
1993-1997   Managing Director of IKEA UK
1997-1999   Vice President of IKEA Europe
1999-2009   CEO and President of the IKEA Group


Shareholding
17,510

Shares held by related parties
0

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance
Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance

Yes

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Lottie Knutson

Board member

Born Year selected Primary occupation
1964 2006 Marketing Director at Fritidsresor Group Nordic, with responsibility for marketing, communications as well as corporate and social responsibility.

Other significant board assignments
Member of the Board of Stena Line Holding BV.

Education

Université de Paris III, Diplôme de Culture Francaise, 1985-1986. Theatre history, Stockholm University, 1989, The Department of Journalism at Stockholm University, 1987-1989.

Work experience

1988-1989   Journalist, Svenska Dagbladet
1989-1995   The communications department at SAS Group
1995-1996   PR consultant, Johansson & Co
1996-1998   PR- and communications responsible consultant, Bates Sweden
1998-1999   Communications consultant, JKL
1999- 
  Marketing Director at Fritidsresor Group for the Nordic countries

Shareholding
1,400

Shares held by related parties

0

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance

Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance
Yes

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Sussi Kvart

Board member and member of the Auditing Committee

Born Year selected Primary occupation
1956 1998 Consulting, with a focus on strategic business advice, corporate governance and board procedures.

Other significant board assignments
Chairman of Kvinvest AB, member of the boards of Healthcare Provision – Stockholm County Council, Stockholms Stadshus AB, Transparency International Sweden and DGC One AB.

Education Bachelor of Laws, Lund University 1980.

Work experience

1983–1989   Lagerlöf (now Linklaters) law firm, as lawyer from 1986
1989–1991   Political expert, riksdagen (Swedish parliament), parliamentary office of the Swedish Liberal Party
1991–1993   Political expert, Swedish Cabinet Office
1993–1999   Company solicitor, LM Ericsson
1997–2001   Member of the Aktiebolagskommittén (Swedish Companies Act Committee)
2000–2001   Working as a solicitor and with business development at LM Ericsson, Corporate Marketing and Strategic Business Development
2002–   Sussi Kvart AB


Shareholding
4,400

Shares held by related parties

1,700

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance

Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance

Yes

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Lena Patriksson Keller

Lena Patriksson Keller

Board member

Born Year selected Primary occupation
1969 2014 Executive Chairman at Patriksson Communication

Other significant board assignments
Positions on the boards of WESC and Elite Hotels, chairman of the board of ASFB, the industry organisation Association of Swedish Fashion Brands and Executive Chairman at Patriksson Communication.

Education
Design and Marketing at Parsons School of Design in New York and at the American University in London.

Work experience
Has worked in the fashion industry for more than 20 years, focusing on branding and communications but also in buying, distribution and product range.

Shareholding
700 shares

Shares held by related parties

9,450 shares

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance
Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance

Yes

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Melker Schörling

Melker Schörling

Board member

Born Year selected Primary occupation
1947 1998 Founder and owner of MSAB.

Other significant board assignments
Chairman of MSAB, AarhusKarlshamn AB, Hexagon AB, Hexpol AB and Securitas AB.

Education

M.Sc. Business and Economics from the School of Business, Economics and Law, Gothenburg University 1970.

Work experience

1970–1975   LM Ericsson, Mexico
1975–1979   ABB Fläkt, Stockholm
1979–1983   Managing Director, Essef Service, Stockholm
1984–1987   Managing Director, Crawford Door, Lund
1987–1992   Managing Director and Chief Executive Officer, Securitas AB, Stockholm
1993–1997   Managing Director and Chief Executive Officer, Skanska AB, Stockholm

Shareholding
0

Shares held by related parties
228,000 *
* Shares owned through Melker Schörling AB

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance

Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance

Yes

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Christian Sievert

Board member and Chairman of the Auditing Committee

Born Year selected Primary occupation
1969 2010 CEO investment company AB Max Sievert

Other significant board assignments
Member of the board of AB Segulah.

Education
MSc in Business Administration, School of Economics, Stockholm 1994

Work experience

1994-1997   Bain & Company, consultant, Stockholm and San Francisco, USA
1997-2003   Investment Manager and Partner, Segulah
2003-2013   CEO/Managing Partner of Segulah
2013-2014   Partner Segulah
2014-   CEO investment company AB Max Sievert


Shareholding*
56,000

Shares held by related parties
4,000 shares are owned by Christian Sievert’s company Whitechris Industri AB, 600 shares owned by spouse.

* Additional information: In addition to Christian Sievert’s shareholding shown above, Christian Sievert holds 5,000 H&M shares via a pension plan.

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance
Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance
Yes

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Niklas Zennström

Niklas Zennström

Board member

Born Year selected Primary occupation
1966 2014 CEO of venture capital company Atomico, which focuses on fast-growing tech companies, and involved in Zennström Philanthropies, which supports organisations particularly associated with climate change, social entrepreneurship, the Baltic Sea environment and human rights.

Other significant board assignments
Member of the board of Rovio, Atomico, Zennström Philanthropies, Fon, Fab and The Climate Group.

Education
Dual degrees in Business Administration and Engineering Physics from Uppsala University.

Work experience
Co-founded companies including venture capital company Atomico, IP telephony company Skype, file sharing service Kazaa and internet video service Joost.

Shareholding
72,700 shares

Shares held by related parties
0 shares

Independent of the company and the company management as defined by the Swedish Code of Corporate Governance
Yes

Independent of major shareholders in the company as defined by the Swedish Code of Corporate Governance
Yes

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Margareta Welinder

Employee representative

Born Year selected  
1962 2007  

Shareholding
0

Shares held by related parties

0

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Ingrid Godin

Employee representative

Born Year selected  
1959 2012  

Shareholding
0

Shares held by related parties
0

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Rita Hansson

Rita Hansson

Deputy employee representative

Born Year selected  
1951 2014  

Shareholding
300

Shares held by related parties

0

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Tina Jäderberg

Deputy employee representative

Born Year selected  
1974 2007  

Shareholding
0

Shares held by related parties

0

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Contact Corporate Governance

Liv Asarnoj

Telephone: +46 8 796 55 00

More contacts

Calendar:

Corporate governance reports

The reports contain information on H&M’s corporate governance and internal control.

Board of directors

The Board of Directors manage the company’s affairs on behalf of the shareholders.

the h&m way

"The H&M Way" (PDF) defines who we are, what we do and how we do it.