The Board of Directors of WeSC has primarily acted according to what is in accordance with Swedish law, particularly the Companies Act (2005:551). The Company shall also function according to the rules specified in the WeSC's Articles of Association.
The Board of Directors of WeSC has established a procedure for its activities, instructions for work between the Board and the CEO, who treats his duties and reporting obligations, and has established instructions for financial reporting. The Rules are reviewed annually. WeSC is not covered by the Swedish Code of Corporate Governance ("Code"). The Board, by contrast, intends to progressively implement the parts of the Code as the Board deems appropriate in light of WeSC's size and activity, ownership structure, board members, etc.The general meeting of WeSC has as of January 8, 2008 decided to establish a Nomination Committee. The introduction of an election is part of the company's decision to adapt to selected sections of the Code. The Nominating Committee shall consist of one representative from each of the three largest shareholders. Chairman of the Nominating Committee shall be decided by the committee. The Nominating Committee shall prepare proposals in particular regarding matters to be presented during the next AGM for decision: proposal on the Chairman for the meeting, the Chairman of the Board and other Board members; proposals for remuneration of the non-employed board members distinguishing between the Chairman and other Board members together with decisions regarding any remuneration for committee work; proposed procedure for appointing the Nominations Committee, and proposed principles for remuneration for the Company's auditors, when the election of auditors shall be made and proposals for the appointment of the auditor.