MEKO comprises approximately 200 companies operating primarily in Denmark, Norway, Poland and Sweden, with a smaller operation in Finland. The Parent Company of the Group is the Swedish public limited liability company Mekonomen AB, whose shares are listed on the Nasdaq Stockholm.
The Group’s corporate governance concerns how the operations are governed, managed and controlled in order to create value for he company’s shareholders and other stakeholders. The aim of corporate governance is to create the conditions for active and responsible company bodies, to clarify roles and segregation of responsibilities and to ensure true and fair reporting and information.
MEKO applies the Swedish Code of Corporate Governance in a manner that is described in detail in the annual Corporate Governance report. In 2020, the company reports the following deviations from the Code:
- Deviation from the Code (rule 2:4): According to the Code, a Board member shall not be the Nomination Committee’s chairman.
- Explanation: Chairman John S. Quinn is also chairman of the Nomination Committee as it is a natural choice considering the ownership structure of Mekonomen.
Both internal and external regulations are used as a foundation for the governance of MEKO:
Swedish Companies Act
Annual Accounts Act
Other relevant laws
Nasdaq Stockholm AB’s Rule book for issuers
Swedish Corporate Governance Code (the Code)
EU Market Abuse Regulation (MAR)
Articles of Association
Board’s and committees’ rules of procedure
Board’s instruction for the President
Policies, guidelines and instructions
Code of Conduct and Core Values