The Company shall have a nomination committee consisting of three members.
The Company’s current nomination committee was elected for one year on the annual general meeting 18 May 2020 and consists of Leiv Askvig (chair), Nils Erling Ødegaard (member) and Georg Johan Espe (member).
The members of the nomination committee shall be shareholders or representatives of shareholders.
The general meeting elects the members of the nomination committee, including its chair. These members will serve for one year unless the general meeting decides otherwise. This term commences from the date of election unless otherwise decided. It terminates at the end of the annual general meeting in the year when the term expires. Even if the term has expired, the member must remain in their post until a new member has been elected.
Remuneration for members of the nomination committee is determined by the general meeting.
The nomination committee shall have the following responsibilities:
- To provide the general meeting with recommendations on directors to be elected by the shareholders, subject to the provision that the manager has the right to recommend up to two directors
- To provide the general meeting with recommendations on the remuneration of directors
- To provide the general meeting with recommendations on members of the nomination committee
- To provide the general meeting with recommendations on the remuneration of the members of the nomination committee.
The general meeting may issue further guidelines for the nomination committee’s work.
Currently, the full board serves as the audit committee.