Board work
Kinnevik’s Board is responsible for the overall strategy of the Group and for
organising its administration in accordance with the Swedish Companies Act.
The Board’s work and delegation procedures, instructions for the Chief Executive Officer and reporting instructions as well as internal policy documents are updated and approved at least annually and are also regularly updated when necessary.
Significant issues addressed by Kinnevik’s Board during 2025 include Kinnevik’s corporate and portfolio strategy and capital allocation plans, including material investments and divestments as well as the organizational structure and succession planning. As the basis for discussions concerning investee companies, Kinnevik’s management presented independent analyses of certain companies’ strategies, operations and future opportunities within the markets in which they are active.
Compliance with laws and regulations, responsibility and market confidence in Kinnevik are some of the key issues which the Board actively focuses on. Kinnevik’s Code of Conduct and Sustainability Policy, both adopted by the Board, describes Kinnevik’s policy on issues pertaining to social responsibility, environmental considerations, governance and ethics.
The Board further has robust internal procedures for handling conflicts of interests and transactions with related parties. All transactions with related parties as well as actual and potential conflicts of interest at Board level are adequately documented and managed by the Board. These requirements are duly reflected in the Board’s work and delegation procedures and the policy for transactions with related parties. Information on transactions with related parties is presented in Note 15 for the Group.
During 2025, Kinnevik’s Board held 12 meetings (including the constituent meeting), of which six were extra meetings to discuss Kinnevik’s strategy and specific investments. All Board meetings during the year followed an agenda which, together with the documentation for each item on the agenda, was sent to Board members in advance of the meetings. A legal counsel serves as Corporate Secretary and is responsible for ensuring that the rules of procedure are complied with, and all Board members can turn to the Secretary for advice and assistance in their Board work.
In 2025, a People & Remuneration Committee and an Audit & Sustainability Committee have been established within the Board. These committees are preparatory bodies of the Board and do not reduce the Board’s overall responsibility for the governance of the Company and decisions taken.
Evaluation of the work of the Board
The Board complies with an annual performance review process to assess how well the Board, its committees and processes are functioning and how they might be improved. In certain years and upon request by the Board or Nomination Committee, a more extensive Board evaluation is undertaken either by an independent Board member or an external consultant. The evaluation of the Board’s work during 2025 was conducted by way of a questionnaire, covering areas such as the Board’s performance against its key duties, the Board’s composition and process, information and reporting, culture, strategy as well as the performance of individual Board members. The results of the questionnaire were presented to and discussed by the Board, and were also shared with the Nomination Committee. The Nomination Committee performed their own interviews with the Board members.
