The CEO answers to the board of directors and is responsible for the continuous management of the Company and day-to-day operations. The division of work between the board and the CEO is set forth in the rules of procedure for the board and the instructions for the CEO. The CEO is also responsible for preparing reports and compiling information from executive management for the
board meetings and for presenting such materials at board meetings.
According to the instructions for financial reporting, the CEO is responsible for the financial reporting of the Company and shall, accordingly, ensure that the board of directors receives adequate information to enable the board of directors to continuously evaluate the company’s financial position.