Arcam AB fka AMAVF

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A Tale of Two Boards

ARCAM - The Board

Göran Malm
Chairman since 2014.
Master’s degree in business administration and economics, has previously had top management positions within SKF, General Electric and Dell, i.e. as President General Electric Asia-Pacific and President Dell Computer Corporation Asia-Pacific.
Other former Board of Director assignments; Samsung Electronics, Envac and Micronic Laser Systems.

Lars Bergström
Board member since 2006.
President of Seco Tools AB in Sweden.
M.Sc. and MBA at KTH in Stockholm.

Vandana Sriram
Board member since 2017.
Global Business Controller at GE Aviation, Cincinnati, USA.
Studies at Dehli University in finance, accounting and economics.

Riccardo Procacci
Board member since 2017.
CEO at Avio Aero s.r.l – a GE Aviation business in Italy.
Ms.D. and Ph.D at Sapienza Università di Roma.

Carlos Haertel
Board member since 2017.
CEO at GE Germany and Austria.

Corporate Governance

The Corporate Governance of Arcam is based on the Swedish Companies Act, the listing agreement, the Swedish Code of Corporate Governance and other relevant rules and recommendations for listed companies. Arcam’s board and management are in active control.

ARCAM ANNUAL REPORT - 2015 - Corporate Governance Report 2015

Good corporate governance is to ensure that companies are managed as efficiently as possible for the shareholders. Corporate governance at Arcam AB (publ) proceeds on the basis of the Swedish Companies Act (ABL), the stock exchange listing agreement, the Swedish Corporate Governance Code (available at www.bolagsstyrning.se) ("the Code") and other relevant regulations, as well as recommendations for stock market companies. The corporate governance report has been prepared by the company's Board of Directors and has been reviewed by the company's auditors.

The Board of Directors

Composition of the Board of Directors

According to Arcam’s Articles of Association, the Board consists of at least three and at most seven members. At the 2015 AGM, seven members were proposed for re-election: Lars Bergström, Henrik Hedlund, Thomas Carlström, Anna Hultin Stigenberg, Jan-Olof Brüer and Göran Malm, as well as Anna Malm Bernsten for new election.
The CEO is not a member of the Board, but normally attends Board meetings. The company’s CFO acts as the secretary to the Board of Directors.

Independence of Board members

All Board members elected by the General Meeting are considered to be independent of the company, its management and of the company's major shareholders. The Board of Directors thus fulfils the requirements relating to independence set out in the Code.




General Electric - GE Board of Directors

The primary role of GE's Board of Directors is to oversee how management serves the interests of shareowners and other stakeholders. To do this, GE's directors have adopted corporate governance principles aimed at ensuring that the Board is independent and fully informed on the key strategic and risk issues GE faces. GE has met its goal to have two-thirds of its Board be independent under a strict definition of independence. Today, 16 of the Board's 17 directors are independent. Each independent director is expected to visit at least two GE businesses without the involvement of corporate management.

GENERAL ELECTRIC COMPANY - GOVERNANCE PRINCIPLES

The words "shareowner" and "shareholder" is used 27 times.


Page 28 of the 2016 GE Annual Report

Board members focus on the areas that are important to shareowners — strategy, risk management, leadership development. In 2016, they received briefings on a variety of issues, including capital allocation, risk management, and business development, with a particular focus on the combination with Baker Hughes and investments in additive manufacturing and GE Digital. The Board also monitored the Alstom integration, execution on the GE Capital exit plan, and other key GE initiatives, including simplification, margin expansion efforts, cash conversion, global market volatility, leadership development, technology excellence, IT and cybersecurity strategy, advanced manufacturing, global research and development strategy, and GE’s branding, marketing, and operating initiatives. At the end of the year, the Board and each of its committees conducted a thorough self-evaluation.