SAS AB is the company whose Board of Directors is responsible for the SAS Group-wide management. The Board’s work is governed by the Swedish Companies Act, the Articles of Association and the formal work plan adopted by the Board each year.
The work plan regulates the division of the Board’s work between the Board and its committees and among the Board, its Chairman and the President and CEO.
The Board of Directors set the overarching objectives and strategies of the SAS Group, adopt a budget and business plan, discuss and approve the year-end and interim reports, ensure the quality of the financial reporting and the internal control, set important policies and regulations and decide on investments and major changes in the organization and activities of the SAS Group.
The Board’s work follows a yearly agenda with permanent information and decision matters. The President and other senior executives usually attend Board meetings either in a reporting or administrative function. The Board of Director’s work is evaluated annually by the Board.
The SAS Board of Directors comprises eleven members, eight of whom were elected by the Annual General Meeting for a term of one year. The three other members plus six deputies are elected by the employee organizations in Denmark, Norway and Sweden.