Board of Directors

Bilia’s Board of Directors consists of ten members elected by the AGM, including the Managing Director of Bilia AB and two members who represent the employees, plus two deputy employee representatives. The AGM-elected members are elected for one year. There is no limit to how long a member can sit on the Board. The duties of the Board are regulated by the Swedish Companies Act and the Articles of Association. Bilia also complies with the Swedish Code of Corporate.

The work of the Board of Directors conforms to annually adopted rules of procedure governing the items of business to be dealt with at each ordinary meeting and the division of labour within the Board, with special duties for the Chairman and the committees appointed within the Board. The rules of procedure also include rules for financial reporting to the Board and more detailed rules regarding the Managing Director’s powers and responsibilities. The ultimate aim of the deliberations and decisions of the Board is to promote the interests of the shareholders in terms of value growth and return on investment. The Board of Directors is also responsible for judging risks and has rules governing decision-making procedures, financial reporting and financing. In addition, the Board has rules governing quality, environment, ethics, information, human resources, IT activities and security and special guidelines to ensure compliance with competition legislation. Measures to progressively strengthen the Bilia brand are also considered by the Board.

The work of the Board during 2009

One post-election meeting and five ordinary Board meetings were held during 2009. All Board members were present at all meetings. In addition to the above meetings, the Board also met once by correspondence. An agenda, along with in-depth information on important matters, is sent to each Board member in good time before each Board meeting. The Board dealt with such items of business as strategy, financial goals, follow-up of results, investments, properties, acquisitions and follow-up of disputes. During the year the Board decided to acquire BMW’s dealership in Gothenburg. Furthermore, the long-standing dispute between Bilia’s subsidiary Säfveån AB and the litigation company Pacta was finally resolved through a settlement. The Board has followed with great interest the European Commission’s investigation of the regulatory framework for the motor vehicle sector. Changes in the EU’s legal rules governing the motor vehicle sector have a bearing on Bilia’s future strategy, since the rules affect the company’s ability to grow by acquisition and its right to sell multiple vehicle brands. On one occasion the Board met with the auditors, who shared their observations with the Board. The Chief Financial Officer of Bilia AB, Gunnar Blomkvist, has been secretary of the Board since the end of 2004.