In the composition of the Board of Directors, the Nomination Committeeconsiders, among other things, necessary experience and competence but alsothevalue of diversity, gender balance and renewal, and assesses theappropriatenessof the number of members of the Board.
In its appraisal of qualifications and performance of the individual Boardmembers, the Nomination Committee takes into account the competence andexperience of each individual member along with the individualmember'scontribution to the Board work as a whole. The Nomination Committeeconsiders itimportant that Board members can devote the necessary time and carerequired tofulfill their tasks as Board members in Ericsson, and has therefore alsofamiliarized itself with the proposed Board members' engagements outside ofEricsson and the time they require.
The Nomination Committee has further thoroughly familiarized itself withtheBoard work and the work of individual Board members. The NominationCommittee isof the opinion that the current Board is well functioning and that theBoardfulfils high expectations in terms of composition and expertise. All Boardmembers contribute meritoriously with their respective expertise. NancyMcKinstry. Anders Nyrén and Michelangelo Volpi have however notifiedtheirintention to leave the Board after several years on Ericsson's Board ofDirectors.
The Nomination Committee proposes that Nora Denzel, Kristin Skogen Lund andPärÖstberg be elected new Board members. Information regarding theproposed Boardmembers is presented in Exhibit 2 to the Nomination Committee's proposal.It isthe Nomination Committee's assessment that each of the proposed Boardmembers,with their respective experiences, will add valuable expertise to the Boardandthat they are therefore well suited as Board members in Ericsson. It couldbespecifically mentioned that Nora Denzel has industrial experience ofrelevanceto Ericsson within among other things software and technologicaldevelopment,that Kristin Skogen Lund has broad experience, of value for Ericsson,within themedia industry, among other things with respect to content distribution,andthat Pär Östberg has solid financial experience and knowledgewith focus inAsia, an important market for Ericsson.
Information regarding proposed Board members
Information regarding all the proposed Board members is presented inExhibit 2to the Nomination Committee's proposal.
Independence of Board members
The Nomination Committee has made the following assessments in terms ofapplicable Swedish independence requirements:
i. The Nomination Committee considers that at least the following Board members are independent of the Company and its senior management: a. Roxanne S. Austin b. Sir Peter L. Bonfield c. Nora Denzel d. Börje Ekholm e. Alexander Izosimov f. Leif Johansson g. Ulf J. Johansson h. Kristin Skogen Lund i. Pär Östberg ii. From among the Board members reported in (i) above, the Nomination Committee considers that at least the following are independent of the Company's major shareholders: a. Roxanne S. Austin b. Sir Peter L. Bonfield c. Nora Denzel d. Alexander Izosimov e. Leif Johansson f. Ulf J. Johansson g. Kristin Skogen Lund
Moreover, the Nomination Committee considers that at least the followingBoardmembers are independent in respect of all applicable independencerequirements: