How the companies are managed
The ambition of the State is to be an active and responsible owner. In the Ministry of Enterprise and Innovation, the Government Offices has an organisation specialised in corporate governance and company management. It is responsible for the development and management of a majority of state-owned companies.
The State’s Ownership Policy
Management of the state-owned companies is conducted in accordance with the State’s corporate governance documents, compiled in the State’s Ownership Policy.
The State’s Ownership Policy and guidelines for companies with state ownership, the ‘ownership policy’, outlines the framework for company management and clarifies the relationship between owners, board and management. In the ownership policy, the Government details its ownership mandates and its position on key principle matters.
The ownership policy includes:
- Swedish Code for Corporate Governance
- Board nomination process
- Financial targets process
- Sustainable business
- Guidelines for remuneration
- Guidelines for external reporting
The requirement for transparency in state-owned companies aims to maintain confidence in the companies among the public and in trade and industry.
State-owned companies are subject to:
- the same external financial reporting requirements as listed companies
- special remuneration terms
The governing board has overall responsibility for the management of a listed company. Board nominations are therefore an important part of corporate governance of the state-owned companies. The management organisation has a structured process for board nomination to ensure that the boards possess the necessary competencies.
The companies that are wholly or partly owned by the State have a total of approximately 300 board members, including chairpersons. There are approximately 260 board members in the companies' wholly owned by the State.