Corporate governance

Corporate governance 

A key feature of the Trelleborg Group’s culture and core values is effective corporate governance with the purpose of supporting the Board of Directors and management in their efforts to increase customer benefits and achieve greater value and transparency for shareholders.
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Governance model

The responsibility for management and control of the Trelleborg Group is distributed between the shareholders, the Board of Directors, its elected committees and the President, as illustrated below. 

Accounting principles

Accounting principles

The Parent Company, Trelleborg AB (publ) is a limited liability company with its registered office in Trelleborg, Sweden. The Parent Company is listed on Nasdaq Stockholm.

The Trelleborg Group’s financial statements have been prepared in accordance with the Swedish Annual Accounts Act, RFR 1 Supplementary Accounting Rules for Corporate Groups and the International FinancialReporting Standards (IFRS) and IFRIC interpretations, as approved by the EU.

The Group’s financial statements have been prepared in accordance with the cost method, with the exception of certain financial instruments that were measured at fair value.

The Parent Company applies the same accounting policies as the Group, except in the instances stated below under “Parent Company’s accounting policies.” The differences arising between the Parent Company and the Group’s accounting policies are attributable to limitations on the ability to apply IFRS in the Parent Company, primarily as a result of the Swedish Annual Accounts Act.

Amendments to IAS 1 Presentation of Financial Statements are being made within the framework of the IASB’s Disclosure Initiative, a project aimed at improving disclosures in financial statements. The amendments clarify a number of issues, including materiality, separate disclosure and subtotals, and the order of notes. For Trelleborg, this has involved a rearrangement of the note structure, with certain applicable accounting policies now presented under the respective notes in the annual report. In addition, general accounting policies were applied that are presented in the pdf below.

These policies were applied consistently for all years presented, unless otherwise stated.

Trelleborg's accounting principles in the Annual Report 2016 note 1 (pdf)

Articles of Association 

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Annual General Meeting 

The Annual General Meeting of Trelleborg AB (publ) will be held on Thursday, April 27, 2017, in Söderslättshallen in Trelleborg, Sweden.

Board of Directors and Auditors 

Remunerations 

Internal Control

Internal Control

Trelleborg has defined internal control as a process that is influenced by the Board of Directors, the Audit Committee, the President, Group Management and other employee.

Risk Management

All business activities involve risk. Risks that are effectivly managed may lead to opportunities and value creation, while risks that are not managed correctly could result in damage and losses. 

Organization and group management