Board of Directors
Board of Directors
The Board of Directors is in charge of the organisation of the company and management of the company's long-term operations. The Board shall also issue guidelines and instructions to the CEO. In addition, the Board shall ensure that the company's organisation in respect of accounting, management of funds and the company's financial position in general includes satisfactory control.
Board members
Ebba Ljungerud
Chair
Born 1972
Swedish citizen
Background add
Ebba Ljungerud is Chair of the
Board of Directors of Canucci
AB and a Board member of
EG7 AB (publ), STAR STABLE
ENTERTAINMENT AB, Goals AB
and Board Member, acting CEO and President of RugVista Group AB (publ).
She was previously CEO of
Paradox Interactive AB (publ),
a Swedish listed gaming company, held several executive
roles at Kindred Group PLC
and Betsson AB (publ), and was
a Board member of Paradox
Interactive AB (publ) and Bingo.com Ltd.
Ebba is an economics graduate
from Lund University.
Independent of the company
and company management,
and independent of the company’s major shareholders.
Shareholding (including any
related person holding):
121,667 shares
Lennart Sparud
Board Member
Born 1969
Swedish citizen
Background add
Lennart Sparud is CFO of Hjo
Installation AB. Lennart is also
a Board member of SETEK
Group AB and Spencer Invest
AB.
He was previously a Board
member of Alelion Energy
Systems AB (publ) and CFO of
companies including Hexatronic
Group AB (publ), Thunderful
Group AB (publ), Salinity Group
AB, Vagabond International
Aktiebolag and Profura AB.
Lennart is a graduate in
economics and law from the
University of Gothenburg.
Independent of the company
and company management,
and independent of the
company’s major shareholders.
Chair of the Audit Committee
of Nelly Group.
Shareholding (including any
related person holding):
6,488
Daniel Hörnqvist
Board member
Born 1985
Swedish citizen
Background add
Daniel Hörnqvist is the CEO of Frank Dandy and Chair of the
Board of Nordic Net Stores, which operates jakt.se, fiske.se and hund.se.
He was previously the CEO of Addnature and Regional Manager Nordic at internetstores.
Daniel has a degree in sports marketing and leadership from IHM.
Independent of the company and company management,
but not independent of the company’s major shareholders.
Shareholding (including any
related person holding): 49 298
Axel Westphalen
Board member
Born 1991
Swedish citizen
Background add
Axel Westphalen is Investment
Manager at Nelly’s largest
shareholder, Rite Ventures, a
Board member of SoftCo Invest
AB and a Board member of the
listed company Heeros Oyj.
Before he joined Rite Ventures,
he worked as Associate Partner
at McKinsey & Company in
Stockholm and Geneva.
Axel has a Master’s in International Business from the Stockholm School of Economics
and a Master’s in International
Management from CEMS.
Independent of the company
and company management,
but not independent of the
company's major shareholders.
Shareholding (including any
related person holding): Rite
Ventures holds 10,381,570 ordinary shares in Nelly Group
Stefan Palm
Board Member
Born 1970
Swedish citizen
Background add
Stefan Palm has over 30 years
of experience in the fashion
and textile industries and is the
founder, Board member and
CEO of Lager 157.
Independent of the company
and company management,
but not independent of the
company’s
major shareholders.
Shareholding (including any
related person holding):
5,062,605 shares
Josephine Salenstedt
Board member
Born 1984
Swedish citizen
Background add
Josephine Salenstedt has been a Board member of Nelly
Group since 28 September 2020.
Josephine is a managing partner and Board member of
Rite Ventures. She is a Board member of CDON AB and
Chair of the Board of Directors of Söder Sportfiske AB. Her
previous positions include Chair of the Board of Directors
of Skincity and Board member of Paradox Interactive AB.
Josephine is a graduate in business administration from
the Stockholm School of Economics.
Independent of the company and company management, but
not independent of the company's major shareholders.
Shareholding (including any related person holding): Rite
Ventures holds 10,381,570 ordinary shares in Nelly Group
Responsibilities and duties of the Board of Directors add
The Board has overall responsibility for the organization and management of Nelly Group. The Board has adopted working procedures for its internal activities that include rules pertaining to the number of regular Board meetings, which issues are to be handled at regular Board meetings, the duties of the Chairman and instructions regarding division of duties between Nelly Group’s Board, the Board’s committees and the CEO.
The work of the Board is also governed by rules and regulations, including the Swedish Companies Act, Articles of Association and Swedish Code of Corporate Governance.
In order to carry out its work more effectively, the Board has appointed a Remuneration Committee and an Audit Committee with special tasks. These committees handle business within their respective areas and present recommendations and reports on which the Board may base its decisions and actions. However, all members of the Board have the same responsibility for decisions made and actions taken, irrespective of whether issues have been reviewed by such committees or not.
The Board has also issued instructions to be followed by the CEO. The instructions require that major investments in fixed assets must be approved by the Board. The Board must also approve major transactions, including acquisitions and divestments or closure of businesses. In addition, the Board has also issued written instructions specifying when and how information that is required for the Board to evaluate the Group’s and its subsidiaries’ financial positions should be reported.
The rules of procedure that are adopted annually by the Board include instructions on which financial reports and what financial information shall be submitted to the Board. In addition to the year-end report, interim reports and the annual report, the Board also examines and evaluates extensive financial information related to both the Group and various entities within the Group. The Board also examines, primarily through the Audit Committee, the most significant accounting policies applied in the Group regarding financial reporting, as well as any key changes to these policies. The Audit Committee is also tasked with examining reports on internal controls and the processes for financial reporting, along with internal audit reports com-piled by the Group’s external function for internal auditing. The Group’s auditor reports to the Board as required, but at least once a year. At least one of these reporting occasions occurs without the CEO or any other member of executive management being present. The Group’s auditor also participates in the meetings of the Audit Committee. The Audit Committee meetings are minuted and the minutes are made available to all Board members and the auditors.