Lifco AB
At the general meeting 24.04.2026 Folketrygdfondet voted against the following items for the following reasons:
Item 15.01 Elect Carl Bennet
We vote against the re-election of this board member due to concerns regarding board independence and role overlap. The individual serves as both Chair of the Board and Chair of the Nomination Committee, which is not aligned with best practice under the Swedish Corporate Governance Code. While not prohibited, this structure raises concerns regarding the independence of the nomination process, particularly given the individual’s affiliation with the Company’s controlling shareholder and extended tenure on the board. We therefore do not believe the board composition sufficiently safeguards independence and vote against the re-election.
Item 15.04 Elect Erik Gabrielson
In Folketrygdfondet’s view, board members should not undertake assignments for the company outside of their duties to the board. Folketrygdfondet’s concern is that such assignments may negatively affect the board member’s independence and ability to perform his or her supervisory functions properly. For this reason, we voted against this item.
Item 15.08 Elect Per Waldemarson
Folketrygdfondet opposes the election of the CEO to the board of directors as a matter of principle. One of the board’s main tasks is the supervision of company management, which includes appointment and dismissal of the CEO. Folketrygdfondet considers that board members can only supervise company management adequately if they are not recruited from among management. For this reason, we voted against this item.
Item 15.10 Election of Carl Bennet as Chair
We vote against the re-election of this board member due to concerns regarding board independence and role overlap. The individual serves as both Chair of the Board and Chair of the Nomination Committee, which is not aligned with best practice under the Swedish Corporate Governance Code. While not prohibited, this structure raises concerns regarding the independence of the nomination process, particularly given the individual’s affiliation with the Company’s controlling shareholder and extended tenure on the board. We therefore do not believe the board composition sufficiently safeguards independence and vote against the re-election.
Item 17.00 Remuneration Report
Folketrygdfondet’s decision to vote against the executive Remuneration Report is based on a cumulative assessment. Folketrygdfondet’s expectations related to board and executive remuneration is that the total amount of remuneration should not entail an unreasonable transfer of value from shareholders to executives. In this case, we note that the increase in CEO compensation is significant and excessive. For this reason, we voted against this item.