Operational management
The task of the
President is to manage operations in accordance with the guidelines and
instructions of the Board of Directors. In connection with this, the President
shall ensure, through necessary control systems, that the Company conforms to
applicable laws and regulations. The President reports at Board meetings and
shall ensure that the Board receives factual, complete and relevant information
which is required for the Board to be able to make decisions which are soundly
based. Additionally, the President has a continual dialogue with the Chairman of
the Board and keeps the Chairman of the Board informed about the development and
financial position of the Company andthe Group.
AAK’s Group Management consists of six persons from three
countries; the Group CEO, the Finance Director, and four Business Area Heads.
The Group Management meets monthly, dealing with the Group’s financial
developments, investments, synergy and productivity projects, acquisitions,
joint Group development projects, management and competence provision and other
strategic matters. The Board meetings are headed by the President, who makes
decisions in consultation with the other members of the Group Management. The
Group has a small number of employees in the Group staff, who are responsible
for general Group activities, such as economy, finance, taxes, IT, internal
control, strategy, investor relations, information and law.
AAK’s business areas is Chocolate & Confectionery Fats (incl.
Lipids for Care), Food Ingredients (Food Ingredients Continental Europe, Food
Ingredients UK & Americas) and Technical Products & Feed. The heads of
the business areas are responsible for goals, strategies, roduct development,
and earnings, cash flow and balance sheet of their respective units. The
business areas are in turn organised in various sectors responsible for ongoing
business matters. Control is exercised through internal boards, which meet four
times a year. AAK’s President and group CEO then functions as Chairman of the
Board and also the Group’s CFO participates. Other holders of positions, such as
the Group’s Controller and Strategy Manager are co-opted as required.
In all countries where AAK has subsidiaries, there is a legal
Country Manager. The task of the Country Manager includes representing AAK in
respect of authorities in the country, coordination of the operational location
and joint Group processes/projects, and ensuring that joint Group guidelines are
conformed to.
For each such country, a member of the Group Management has been
appointed with general responsibility for operations (Group Management
Representative). These are superior country managers, and in most cases they
function as board members of the local legal boards.