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Group Management

The CEO reports to the board of directors and is responsible for Balco’s day-to-day management and operations. The allocation of work between the board of directors and the CEO is stated in the work procedures for the board of directors and the instructions for the CEO. The CEO is also responsible for preparing reports and compiling information from management prior to meetings of the board of directors and presenting the material at board meetings. The CEO monitors compliance with Balco’s goals, policies and strategic plans as adopted by the board of directors and is also responsible for regularly informing the board of directors regarding the company’s performance.

The CEO leads the management of the company and is responsible for the overall development of the business. In addition to the CEO, Balco’s management consists of central group functions with clear areas of responsibility. There are six senior executives with responsibility for handling finance, IT, personnel, quality assurance, purchasing, production, operations, communications and markets.

Management composition

Kenneth Lundahl (born 1967)
President and CEO

Employed since: 2013.
Education: Civil engineering degree from Chalmers Technical University.
Other current positions: Board Chairman of Lundahl & Hall AB. Board Chairman of Anderstorps Hotellfastigheter AB.
Own and closely associated holdings: 215,770 shares
Legal person:
Subscription warrants: 120,000 warrants

Roger Andersson
Roger Andersson (born 1967)
Head of Sales, Sweden and Norway

Employed since: 2005.
Education: Secondary school degree, mechanical engineering from Hässleholms Technical School.
Other current positions:
Previous positions and professional experience: District manager and product manager for Colly Components AB, product technician at Autoliv AB and designer at Levahn Industrier AS.
Own and closely associated holdings: 3,000 shares
Legal person:
Subscription warrants: 12,000 warrants

Camilla Ekdahl
Camilla Ekdahl (born 1967)
Managing Director Balco AB and COO

Employed since: 2019.
Education: Civil engineering degree from Chalmers Technical University.
Other current positions:
Previous positions and professional experience: COO Pelly Group AB, Operations manager/Managing Director Isaberg Rapid AB, Site manager Rapid Granulator AB, Logistics manager Thule Sweden AB.
Own and closely associated holdings: 11,100 shares
Legal person:
Subscription warrants: 40,000 warrants

Johan Fälth
Johan Fälth (born 1975)
Head of Marketing and Export, Responsible for Sustainability

Employed since: 2010.
Education: Masters degree in corporate finance from Linnaeus University.
Other current positions:
Previous positions and professional experience: Head of HR at Tenneco Automotive Sverige AB, Linnéuniversitetet and consultant at Adecco AB.
Own and closely associated holdings: 16,040 shares
Legal person:
Subscription warrants: 12,000 warrants

Michael Grindborn
Michael Grindborn (born 1968)
CFO and Head of IR & IT

Employed since: 2019.
Education: MBA from Linné University in Växjö. Master degree in Business Administration S.D.A Bocconi School of Management.
Other current positions:
Previous positions and professional experience: CFO Lammhults Design Group AB, Finance Director Gislaved Gummi AB/Hexpol Engineered Products. CFO for the Nordics & the Baltics, Recticel AB, CFO Animex AB, CEO Forshedaverken AB, CFO Dolomite AB, CFO IST Group.
Own and closely associated holdings: 11,040 shares
Legal person:
Subscription warrants: 40,000 warrants

Jesper Magnusson
Jesper Magnusson (born 1986)
Head of Human Resources

Employed since: 2014.
Education: PhD with focus on Human Resource Management, Linné University in Växjö.
Other current positions:
Previous positions and professional experience: Office manager, head of consulting and recruiting at Adecco AB.
Own and closely associated holdings: 8,000 shares
Legal person:
Subscription warrants: 12,000 warrants

Renumeration to the Senior Management

Guidelines

According to the Swedish Companies Act, a shareholders’ meeting must adopt guidelines for remuneration paid to the CEO and other senior management. Guidelines for remuneration paid to senior management were adopted by the annual general meeting held on 17 June 2020.

The senior management, which consists of nine people, and the CEO are regarded as senior executives. The guidelines’ purpose is to ensure that Balco can attract, motivate and retain senior executives. The aim of the remuneration is to be competitive in comparison with prevailing market standards and at the same time in accordance with the shareholders’ interests. The remuneration to senior executives shall consist of fixed and variable remuneration, the opportunity to participate in a long-term incentive program as well as pension contributions. These components shall together create a well-balanced remuneration, which reflects individual competence, responsibility and performance, both short-term and long-term, as well as the Company’s total performance.

Fixed and variable salary

The fixed remuneration shall be competitive in comparison with prevailing market standards and shall be based on the individual senior executive’s competence, responsibility and performance.

Senior executives shall be able, in addition to fixed remuneration, to receive variable remuneration. Such variable remuneration may not exceed 50 per cent of the fixed remuneration. The variable remuneration shall be based on predefined and documented financial and individual targets.

Other benefits and pension

The Group offers other benefits to the senior executives in accordance with local practice. Such other benefits can for example consist of a company car and health services. When applicable, accommodation is offered during a limited time. The senior executives shall be offered pension contributions in line with market terms in the country where they are employed. Pension obligations are secured through payments of premiums to insurance companies.

Deviations from the guidelines

In special circumstances, the Board of Directors may deviate from the above guidelines, for example in relation to additional variable remuneration after exceptional achievements. In such a case, the Board of Directors is obligated to give account for the reason for the deviation at the following Annual General Meeting.

Notice of termination and severance compensation

For the CEO a notice period of twelve months applies in case of termination by the Company and six months in the case of termination by the CEO. The CEO is bound by a non-competition clause, which is valid for two years from the termination of employment.