In advance of the 2017 AGM: The Nomination Committee and the Remuneration Committee proposals for Board of Directors’ composition and remuneration
The Nomination & Governance Committee proposes to the Board of Directors that all current board members (Mona Abbasi, Magnus Brännström, Anders Dahlvig, Alexander af Jochnick, Jonas af Jochnick, Robert af Jochnick, Anna Malmhake, Christian Salamon, Karen Tobiasen) be re-elected as members of the Board and that Alexander af Jochnick be re-elected as Chairman of the Board.
Independence according to Swedish Code for Corporate Governance
All of the proposed Board members are considered by the Nomination & Governance Committee to be independent in relation to the company and the company's management except for Magnus Brännström, who is the CEO of Oriflame. All of the proposed Board members are considered by the Nomination & Governance Committee to be independent in relation to the company’s major shareholders except for Alexander af Jochnick, Robert af Jochnick and Jonas af Jochnick.
Board of Directors remuneration
The Remuneration Committee proposes to the Board of Directors that the board directorship and committee fees for the period from the 2017 Annual General Meeting to the next Annual General meeting remains unchanged.
About the Nomination & Governance Committee and the Remuneration Committee
As previously announced, Oriflame’s Board of Directors has in accordance with Swiss law formed a Nomination & Governance Committee as well as a Remuneration Committee among its members. Among the tasks of the Nomination Committee is to prepare the Board of Directors proposals on board composition to be put forward to the Annual General Meeting, and among the mandatory tasks of the Remuneration Committee is to prepare the Board of Directors proposals on board directorship and committee fees.
Participating Directors in the Nomination & Governance Committee are:
Anders Dahlvig, Board member and Chairman of the Nomination & Governance Committee
Alexander af Jochnick, Chairman of the Board
The Nomination & Governance Committee has contacted and consulted, among others, the Company’s five largest shareholders (as known to the Company) in the nomination process.
Participating Directors in the Remuneration Committee are:
Alexander af Jochnick, Chairman of the Remuneration Committee and Chairman of the Board
Karen Tobiasen, Board member
About the Annual General Meeting
The proposals on board composition and board remuneration will in accordance with Swiss law be resolved upon by the Board of Directors and together with all other agenda items be put forward by the Board to the shareholders at the Annual General Meeting. The full notice and agenda will be published no later than twenty days prior to the Annual General Meeting to be held in Zurich, Switzerland, on 9 May 2017.
Founded in 1967, Oriflame is a beauty company selling direct in more than 60 countries. Its wide portfolio of Swedish, nature-inspired, innovative beauty products is marketed through approximately 3 million independent Oriflame Consultants, generating annual sales of around €1.2 billion. Respect for people and nature underlies Oriflame’s operating principles and is reflected in its social and environmental policies. Oriflame supports numerous charities worldwide and is a Co-founder of the World Childhood Foundation. Oriflame is a Swiss company group listed on the Nasdaq Stockholm Exchange. For more information about Oriflame, please visit www.oriflame.com.