According to the Code, BioArctic shall have a nomination committee, the duties of which shall include the preparation and drafting of proposals regarding the election of board directors, the chairman of the board, the chairman of the general meeting and the auditors. The nomination committee shall also propose remuneration to board directors and auditors.
The composition of the nomination committee shall be announced on BioArctic’s website no later than six months prior to the Annual General Meeting. The nomination committee represents BioArctic’s shareholders and shall prepare and submit proposals to the Annual General Meeting for decisions on the election of chairman of the board, deputy chairman (if any), and other board members, fees for the chairman and the other board members, and possible remuneration for committee work,the election of and fees to the auditor and deputy auditor (if applicable), resolution on the principles for appointing the nomination committee, and election of the chairman of the meeting.
As a basis for its evaluation of the composition of the board the nomination committee has had access to the evaluation performed by the board and also had the opportunity to meet the board members individually. Based on this evaluation and the opportunity to consider proposals for new board members the nomination committee works out a proposal for the board that will be announced in connection with the notice of the Annual General Meeting. The auditors are appointed by the Annual General Meeting annually.