Corporate governance
Annual general meetings
The shareholders' meeting is SkiStar's highest decision-making body. The Annual General Meeting shall be held within six months of the end of the financial year. All shareholders who are listed in the register of shareholders and who have notified the Company of their intention to attend within the prescribed time are entitled to participate and vote according to the total number of shares owned.
Nomination committee
The Nomination Committee consists of representatives appointed by SkiStar's shareholders and prepares some of the resolutions of the Annual General Meeting in accordance with the instructions for the Nomination Committee approved by the Annual General Meeting.
Board of directors
SkiStar AB's board of directors is chaired by the chairman Anders Sundström.
Principal education and professional experience:
Bachelor of Arts. Former chairman of Swedbank and KF. Many years of operational experience in industry as well as the financial sector, including CEO of Folksam. Has held several ministerial posts and other political assignments.
Other significant professional committments:
Chairman of the Board, Chairman of the Remuneration Committee
Holding:
15,000 B-shares
Dependent in relation to larger shareholders in the company and dependent in relation to the company and the management of the company.
Principal education and professional experience:
University studies and SEB Higher internal bank training. Extensive experience in consumer and services market through her role as founder and owner and previously CEO and executive chairman of listed Collector AB and Collector Bank.
Other significant professional committments:
Board member of Dragon Invest AB. Chairman of Redlocker AB and NordicCredit Sweden AB and Board member of Helichrysum Gruppen AB.
Holding:
10 000 B-shares
Independent of the Company and its management. Independent of major shareholders.
Principal education and professional experience:
Secondary education. Experience as CEO and board member of Kranpunkten Skandinavien AB and Ekhaga Utveckling AB.
Other significant professional committments:
CEO and Director of Kranpunkten Skandinavien AB and Ekhaga Utveckling AB. Board member of Peab AB and Board member of Mats Paulssons Stiftelse and Stiftelsen Stefan Paulssons Cancerfond.
Holding:
Fredrik Paulsson with relatives:
- Mats and Fredrik Paulsson with families 145,690 B shares, corresponding to 0.2% of the capital and 0,1% of the votes
- Ekhaga Utveckling AB 3,648,000 A shares and 15,343,150 B shares, corresponding to 24.2% of the capital and 46.6% of the votes.
Dependent of the Company and its management. Dependent of major shareholders.
Principal education and professional experience:
MBA. Many years of broad experience from the experience industry. Former CFO of Scandic Hotels, Cision, Parks & Resorts Scandinavia, Mandator and TUI Nordic.
Other significant professional committments:
Member of the board of Ambea AB (publ), NCAB Group AB (publ), Scandic Hotels Group AB (publ) and Swedish Space Corporation (SSC, Svenska Rymdaktiebolaget).
Holding:
1 900 B-shares
Independent in relation to the company, the company management and to larger shareholders.
Principal education and professional experience:
Bachelor in Business Administration. Former vice president of ICA Gruppen AB, CEO of ICA Sverige AB and board member of Svensk Dagligvaruhandel Ekonomisk förening and ICA Banken AB. Before that senior vice president of Arla Foods Consumer Nordic and CEO of Arla Foods Sweden as well as various roles in Procter & Gamble Nordic and Procter & Gamble UK, including as logistics director Nordic and sales director Sweden.
Other significant professional committments:
Chairman of the Board of Svensk Handel AB and Stadium AB and a board member of Svenskt Näringsliv, Reocean AB and Midsona AB.
Holding:
3 000 B-shares
Independent in relation to the company, the company management and to larger shareholders.
Principal education and professional experience:
Master's degree in accounting and business administration, MBA in finance. Previously inter alia CIO and portfolio manager at ODIN Fonder, Investment Director at Seatankers Management Norway and auditor at PwC.
Other significant professional committments:
Partner and investment director of Aeternum Management AS, which manages Aeternum Capital AS. Other significant professional commitments: Board member of ITAB Shop Concept AB, Aeternum Management AS and Søraunet Invest SA.
Holding:
Represents Aeternum Capital AS, which holds 15,060,000 Series B shares, corresponding to 19.2% of the capital and 13.5% of the votes and 1,600 B shares through family.
Independent in relation to the company and the management of the company. Dependent in relation to larger shareholders of the company.
Principal education and professional experience:
Law degree. Employed at Handelsbanken since 1986, where she has held a number of different managerial positions with results responsibility.
Other significant professional committments:
Currently Board Member and resigning President and CEO of Svenska Handelsbanken. Other significant professional commitments: Board Member in Holmen AB, the Swedish Bankers' Association, as well as in the World Childhood Foundation.
Holding:
Independent in relation to the company and company management as well as to major shareholders.
Principal education and professional experience:
Senior high school. Employed by SkiStar since 1998.
Other significant professional committments:
Holding:
Principal education and professional experience:
Secondary school education. BAC School of Economics. Employed by SkiStar since 2023. Previous work experience from Saint-Gobain, Riksbyggen and TeliaSonera. Worked internationally for 20 years.
Other significant professional committments:
Holding:
Independent
Management
SkiStar's Group Management is headed by CEO Stefan Sjöstrand.
Principle education and professional experience:
Marketing Diploma IHM. 13 years of experience from IKEA, inter alia from positions as Commercial & Digital Manager for Ingka Centres (IKEA), Commercial Manager for IKEA Group and member of Group Management and the Management Board, CEO of IKEA Canada, Deputy CEO of IKEA France and Business Area Manager at IKEA of Sweden (IKEA’s product development company in Älmhult). Stefan also has experience from various CEO and management roles at Weibulls, OLW, Malaco and Marabou.
Significant professional commitments outside the company:
Board Member of Derome AB.
Holding:
37 100 B-shares
Principle education and professional experience:
Master of Business Administration. Former business area manager within Medtech at AddLife AB. He had the position as CFO at AddLife AB during the years 2015-2021. Experience from work as group controller at Addtech AB, from various controller positions within Nefab as well as from work as an auditor.
Significant professional commitments outside the company:
Holding:
10 000 B-shares
Principle education and professional experience:
Degree of Master both in Economics and Tourism and Hospitality Management. CEO of Hotel Diplomat and Villa Dagmar during the years 2012–2022. Prior to that, active in the group of Clarion Hotels, with responsibility for sales and operations. Also experience from Langley Travels with responsibility for hotel operations in the Alps, Corsica, and Crete.
Significant professional commitments outside the company:
Holding:
307 B-shares
Principle education and professional experience:
Marketing Diploma IHM. Various management positions within the SkiStar Group.
Significant professional commitments outside the company:
Holding:
22 259 B-shares
Principle education and professional experience:
Master of Laws. Former associate and lawyer at law firms Lindahl and Ramberg Advokater, district court service as law clerk.
Significant professional commitments outside the company:
Holding:
2 000 B-shares
Principle education and professional experience:
Bachelor of Economics. Former Nordic Marketing Manager Fritidsresor, Sales and Marketing Manager Langley Travel.
Significant professional commitments outside the company:
Holding:
17 609 B-shares
Principle education and professional experience:
Personnel and working life program, Stockholms Folkuniversitet, marketing economist IHM Business School. Previous experience from Ving within the foreign organization as well as various management and leadership positions within the SkiStar Group.
Significant professional commitments outside the company:
Holding:
2 000 B-shares
Principle education and professional experience:
MBA. Former Administrative head of business development at Diös, head of the Swedish commercial business of Riksbyggen. Former member of the board of directors in SBC and SkiStar.
Significant professional commitments outside the company:
Holding:
3 350 B-shares
Organisational chart
Additional documents
At the annual general meeting on 10 December 2022 Deloitte AB accounting firm was elected for a period of one year.
The audit is lead by authorized public accountant, Kent Åkerlund.
The audit is reported regularly during the year to executive management and the audit committee. At least once a year the auditor meets the company’s board of directors. The external auditor's independence is governed by separate rules of procedure for the audit committee adopted by the company's board of directors, which sets out the areas in which the external auditor may be engaged in affairs alongside the regular audit work.
Fees to the auditor is paid on an on-account basis.
The general meeting of shareholders resolves on fees to the members of the board of directors and on guidelines for remuneration to the company's senior management.
FEES TO THE MEMBERS OF THE BOARD OF DIRECTORS
The annual general meeting 2022 resolved, in accordance with the nomination committee's proposal, that total fees for the board of directors, including committee fees, shall amount to SEK 2,810,000, of which SEK 650,000 to the chairman of the board of directors and SEK 300,000 to each of the other members of the board of directors that are not employed by the company.
Fees to the members of the audit committee shall amount to SEK 240,000 in total, of which SEK 120,000 to the chairman of the committee and SEK 60,000 to each of the other two members of the audit committee. Fees to the members of the remuneration committee shall amount to SEK 120,000 in total, of which SEK 60,000 to the chairman of the committee and SEK 30,000 to each of the other two members of the remuneration committee.
GUIDELINES FOR REMUNERATION TO THE SENIOR MANAGEMENT OF SKISTAR AB
The annual general meeting 2022 adopted the Guidelines for Remuneration to company management in accordance with the board of director's proposal.
The Board's Remuneration Report regarding 2021/22
Former guidelines etc
Guidelines for Remuneration to company management adopted 2021.
The Board's Remuneration Report regarding 2020/21
The Auditor's report on compliance with guidelines for company management SkiStar AGM 2021
INCENTIVE PROGRAM
There are no share related incentive programs in the company.
The Articles of Association of SkiStar AB were adopted by the AGM on December 12, 2020.
The Articles of Association of SkiStar AB can be found here.
Description of SkiStar's governing documents
*Red box = Policy (overarching governing document expressing minimum requirements. Determined by SkiStar's board). Gray box = Directive (more detailed governing document that clarifies application. Determined by SkiStar's group management).
For more information on internal and external regulations that affect SkiStar's operations and governance, refererence is made to the corporate governance reports that can be found on this page.
All policies and other governing documents are available for all employees on the intranet SkiStar Hub. The governing documents deemed to be of most external relevance are also available below.
Code of Conduct
SkiStar continuously meets the outside world in the form of, among other things, guests, suppliers and partners. The purpose of SkiStar's Code of Conduct is to gather the guidelines and values that form the basis for how we expect employees, partners, elected representatives and business partners to act towards each other and the outside world, and to provide support in daily work.
Sustainability Policy
Sustainability and responsible business are of utmost priority for SkiStar. This is fundamental to building a company that is well equipped to take on future challenges and opportunities in a rapidly changing world. Therefore, we have developed long-term goals in line with Agenda 2030 and the Paris Agreement. In order to ensure a common endeavour in the work ahead and in order to reduce the exposure to identified risks linked to sustainability, this policy clarifies SkiStar’s overall view of the group’s sustainability issues and responsibilities.
Supplier and Partner Code of Conduct
Supplier and Partner Code of Conduct
SkiStar’s Supplier and Partner Code of Conduct applies to all suppliers and partners of the company. These are expected to act on the basis of provisions in this Code of Conduct. The supplier/partner shall in its agreements with subcontractors transfer these obligations to its subcontractors. In the event of any deviations from the Code of Conduct, SkiStar will take measures which, if correction is not possible or not taken, may mean that the supplier's business relationship with SkiStar is terminated.
Diversity Policy
This policy has been adopted to ensure that SkiStar has employees with the right competence and to ensure that SkiStar's employees have the opportunity for relevant further training by promoting equal development opportunities within the company. SkiStar shall be an employer where people with different backgrounds, abilities and experiences work together and have an open and affirmative culture where everyone is treated equally regardless of age, gender, transgender identity or expression, ethnicity, religion, political views, functional variation or sexual orientation.
Quality Directive
This directive is intended to be a benchmark, both for management and all employees, in the daily work of creating memorable mountain experiences, developing sustainable destinations, offering accommodation, activities, products and services of the highest quality with our guests in focus.
Corporate governance reports including the auditor's statement on these for the past ten fiscal years.
SkiStar’s sustainability work is based on the critical sustainability areas that have been identified as part of a materiality analysis.
The materiality analysis gives SkiStar the opportunity to live up to the expectations placed on the company by its stakeholders and enables it to meet the opportunities and challenges linked to aspects of sustainability. Read more about our materiality analysis on this page.
SUSTAINABILITY GOVERNANCE
SkiStar’s sustainability work is based on the critical sustainability areas that have been identified as part of a materiality analysis. The materiality analysis gives SkiStar the opportunity to live up to the expectations placed on the company by its stakeholders and enables it to meet the opportunities and challenges linked to aspects of sustainability.
INTERNAL CONTROLS
SkiStar is guided by several policies and regulatory documents that clarify the company’s risks, risk management strategy and approach to achieving its objectives. All policies are reviewed annually and constitute a basic tool to ensure each employee at SkiStar can easily access information regarding how they are expected to act, when and for what reason.
RISK MANAGEMENT
SkiStar is exposed to various risks related to the business and the business model. In order to manage and work with the risks faced by the company, SkiStar engages systematically with risk assessment and risk management, covering all its business areas. SkiStar’s Board of Directors has overall responsibility for ensuring risk management is conducted, as well as managed efficiently and purposefully. In addition, sustainability risks are evaluated separately, including the following areas: environment, human rights, labour law and anti-corruption. SkiStar’s risk management relates to all risks associated with the company’s sustainability work and the company’s materiality analysis. SkiStar’s risk management is described in detail here.
CODE OF CONDUCT
SkiStar’s Code of Conduct has been determined by the company’s Board of Directors. The Code clarifies SkiStar’s guidelines and values, creates transparency and functions as a blueprint for how SkiStar’s employees should behave towards one another and the people they meet. It also explains that SkiStar supports the ten principles of the UN Global Compact regarding human rights, working conditions, the environment and anti-corruption, as well as the ILO’s eight fundamental conventions concerning minimum standards for working conditions. SkiStar’s Code of Conduct is reviewed annually and is available to all employees via the intranet.
POLICIES
In addition to the overall Code of Conduct, SkiStar also operates according to several policies. The purpose of these policies is to create transparency and clarify how we intend to pursue operations with a long-term, sustainable approach to generate growth and develop the company. Annual online training is provided to increase awareness and understanding of how SkiStar is expected to act and respond to its operating environment. The training is also aimed at increasing understanding of how sustainability aspects should be observed in all areas of the business, and how they should be a natural consideration for every employee at all levels and in all decisions. All the company’s policies are available to SkiStar’s employees via the intranet. A review of all policies is carried out each year and they are covered in the annual training, alongside the Code of Conduct.
COMPLIANCE AND REPORTING
SkiStar aims to achieve full compliance with the company’s policies. For everyone to feel confident that the company is working towards shared goals, and to pick up on any possible policy breaches, SkiStar has established a whistleblower service. The service is designed to give all employees the opportunity to anonymously report any suspicions of serious irregularities. The whistleblower service is a warning system aimed at reducing risks, preferably at an early stage in the chain of events. A whistleblower service is an important aspect of effective corporate governance and maintains public confidence in us as a company. Directives and procedures for reporting are available to all employees. No cases of SkiStar’s policies being violated were reported during the year.
SUPPLIER CODE OF CONDUCT
Effective partnerships and responsible procurement of suppliers are an important factor in the ongoing sustainable development of operational activities. SkiStar works with many different suppliers within the company’s various business areas. Both price and the length of the business relationship with each supplier consequently vary. SkiStar applies a Supplier Code of Conduct, which sets out the expectations SkiStar has of its suppliers. SkiStar’s Supplier Code of Conduct includes respect for human rights, among other areas. It states that suppliers are to be familiar with basic human rights and labour conditions, and to respect them and comply with them. All SkiStar’s suppliers and business partners are expected to accept this Code of Conduct. SkiStar will act on any breaches. Find more information on the Supplier Code of Conducts on this page.
To ensure responsible procurement, SkiStar works based on established directives for purchasing, which take account of various perspectives during procurement and purchasing processes, including accessibility, price and quality, along with sustainability aspects.
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