The governance of the Kindred Group lies with the Board
The Board is responsible for setting the overall Group strategy and direction, including budget, capital structure, material contracts, acquisitions, disposals, joint ventures, corporate governance and Group policies.
The Board and its committees have written terms of reference, which include working procedures.
At least once a year, the Board reviews the relevance and appropriateness of the terms of reference and the reporting structure and instructions.
The Board has a standard agenda, including receiving and considering reports from the Chief Executive Officer and the Chief Financial Officer (CFO) and from the Audit and Remuneration Committees.
Sustainability
The Board of Directors has established relevant guidelines on the topic of sustainability for the Group, with the aim of ensuring its long-term capacity for value creation. Sustainability for Kindred Group has a number of different aspects:
- Responsible gambling
- Maintaining integrity
- Running a compliant business
- Being Kindred
- Contributing to our communities
The Board’s work during 2021
The Board and its Committees usually meet every second month throughout the year. The number of Board and Committee meetings attended by each of the Directors during the year can be seen in the table on the next page.
At all meetings, the CEO reports on the business developments and operations. The Chief Legal and Compliance Officer reports on legal trends in the gaming market and the Group Risk Manager reports annually on the risk aspects of the business. Quarterly, the Head of Internal Audit reports any key findings and recommendations to the Audit Committee. The Chair of the Audit Committee shares these findings with the Board each quarter. Members of the Executive Committee and other senior managers also attend meetings, when relevant, to update the Board on their areas of responsibility and to discuss future plans.
The key items arising at Board meetings in 2021 were matters related to innovation, information technology, product management, strategy and business plans, budgets, forecasts, key policies and the new regulations in the Netherlands and the USA. To closer monitor the development in the USA, the Board has appointed Peter Boggs, Gunnel Duveblad and Evert Carlsson to its US Committee. Over the course of 2021 and following the shareholders’ approval at the Extraordinary General Meeting (EGM) held on 10 June 2021, the Board has begun rolling out and implementing the Group’s share buy-back programme.
|
|
Board |
Audit Committee |
Remuneration Committee |
|
Number of meetings held during the year |
22 |
5 |
4 |
|
Name |
|
|
|
|
Anders Ström, (outgoing) Chairman1 |
10/22 |
– |
– |
|
Evert Carlsson, (incoming) Chairman2 |
12/22 |
– |
3/4 |
|
Peter Boggs |
21/ 22 |
– |
4/4 |
|
Gunnel Duveblad |
22/22 |
5/5 |
– |
|
Erik Forsberg |
22/22 |
5/5 |
– |
|
Heidi Skogster2 |
12/22 |
– |
– |
|
Carl-Magnus Månsson Heidi Skogster2 |
21/22 |
– |
4/4 |
|
Fredrik Peyron2 |
12/22 |
– |
– |
1. Anders Ström resigned from the Board of Directors at the 2021 AGM in May.
2. Evert Carlsson, Heidi Skogster and Fredrik Peyron were appointed to the Board of Directors at the 2021 AGM in May.
