styrelsens

Styrelsen is the Swedish term for the board of directors in a company, organization, or association. In Swedish corporate governance, styrelsen is the governing body responsible for oversight, strategic direction, and the supervision of management. The possessive form styrelsens is used to describe something belonging to the board, such as styrelsens beslut (the board’s decisions) or styrelsens ansvar (the board’s responsibilities).

Composition and appointment: In Swedish aktiebolag (limited companies), board members are typically elected by the general meeting for a defined period. The number of directors is set by the articles of association and commonly ranges from three to nine. A chair (ordföranden) leads the board’s work and presides over meetings, while other members contribute to governance, risk oversight, and strategy.

Responsibilities and authority: The styrelsen has fiduciary duties to the shareholders or members. Its core tasks include setting and monitoring strategic goals, approving budgets and major investments, appointing and supervising the CEO or managing director, and ensuring effective risk management and internal controls. The board oversees management performance, ensures compliance with applicable laws and regulations, and prepares material for the annual general meeting.

Legal framework: In Sweden, the board’s scope and duties are primarily defined by the Swedish Companies Act (Aktiebolagslagen) and related governance rules. Similar governance structures exist in nonprofit organizations, where the governing documents determine board composition and authority. Outside Sweden, boards operate under national corporate law and governance codes that shape their responsibilities.

See also: corporate governance, board of directors, chairperson, CEO, annual general meeting.