Corporate governance report

Good corporate governance is vital to ICA Gruppen’s positive development and is essential in order to maintain and develop confidence in the Company. The governance of ICA Gruppen is characterised by openness, reliability and a genuine concern that every aspect of ICA Gruppen must be sustainable. The Company has an effective organisa-tional structure, transparency and a system for sustainable development, internal control and risk management.

Claes-Göran Sylvén, Chairman of the Board

Good corporate governance within ICA Gruppen is based on clear goals, strategies and values that are well known throughout the organisation. Ultimately, corporate governance is about how we create a healthy corporate culture that effectively contributes to developing the Group.

During ICA Gruppen’s first year of operation the Board has worked intensively, with noticeable activity and commitment. The work has been conducted through Board meetings and in various committees. All the Board members sit on one or more committees, which means they are involved and in continual contact even between Board meetings.

During the year considerable effort has been put into following up the implementation of ICA Gruppen’s new Group-wide strategy and the strategic priorities decided on previously. The strategy, the priorities and the new ownership structure create a clarity and long-term thinking that allows the Company and its leadership to focus on future operations. Our core business will remain grocery retail. Other operations are to support the core business, but may also be developed on their own merits.

Other important areas have included decisions on our long-term financing and new financial goals. The new goals focus clearly on continued – and long-term – growth with good profitability. Building on a strong cash flow and healthy capital structure, we want to create room both for continued investments and for good and stable returns to shareholders.

Good corporate governance within ICA Gruppen is based on clear goals, strategies and values that are well known throughout the organisation.

In order to make critical, sustainable decisions, we need knowledge and insights into day-to-day work as well as the changes that are driving the markets. In my opinion, the current Board has all of the expertise that ICA Gruppen needs. To help us we have efficient systems, routines and processes to follow up goals, internal control and risk management.

One of the Board’s most important tasks is to support members of Executive Management and critically evaluate their work. To succeed in this, it is necessary to have an open and constructive dialogue between the Board and Executive Management. On behalf of the Board I would therefore like to take this opportunity to thank Per Strömberg and the rest of the Executive Management for excellent cooperation in 2013. I would also like to express our appreciation for the hard work of management, retailers and other employees in our first year as a new group of companies. It is both impressive and inspiring to see the energy and drive that permeates everyone’s efforts. We will take that with us as we enter a new fiscal year.
Stockholm, February 2014

Claes-Göran Sylvén
Chairman of the Board

Further information:

ICA Gruppen AB (publ) | Svetsarvägen 16 | SE-171 93 Solna, Sweden | Tel. +46 8 561 500 00 | | Corp. ID no. 556048-2837