The Board has issued a formal response to the Ministry of Justice’s invitation for comments on a forthcoming recommendation on director remuneration from the European Commission.
The background to this is the stated intention of the European Commission to issue a new recommendation on director remuneration, replacing the Commission’s recommendation on the same issue from 2004. As a basis for this recommendation, the European Corporate Governance Forum, the Commission’s advisory body of corporate governance experts, issued astatement on director remuneration in March 2009.
In order to develop an official Swedish response to the Commission’s invitation to the Member States to comment on the issue, the Ministry of Justice invited other interested parties, including the Swedish Corporate Governance Board, to provide comments based on the ECG Forum’s statement.
The Board delivered its reply on 14 April 2009.