Vattenfall's commitment to its stakeholders is reflected in its appreciation of the guiding principles of good corporate governance. In the company's operations, the management adheres to transparent and modern standards of governance, as described in this section.
The parent company of the Vattenfall Group, Vattenfall AB, is a Swedish public limited liability company with registered office in Solna, Sweden.
The Swedish Companies Act thus applies for Vattenfall AB. The Board of Directors is elected by the Annual General Meeting (AGM). The Board, in turn, appoints the President and CEO, who is responsible for the day-to-day administration of the company in accordance with the Board's guidelines and instructions.
Vattenfall is wholly owned by the Swedish state.
Major parts of the Group's business are carried out in wholly and partly owned subsidiaries. For more information about legal entities within the Vattenfall Group, see Note 26 (Shares and participations) of the Annual Report 2012.
The Articles of Association and the Corporate Governance Report can be downloaded here:
Articles of Association
Corporate Governance Report 2012
Previous corporate governance reports can be found in the Corporate Governance Archive.
Governance and reporting structure