Item 12(v): Re-election of Ulf Larsson to the Board of Directors
Rationale:
Folketrygdfondet opposes the inclusion of the CEO on the board of directors as a matter of
principle. One of the board’s main tasks is the supervision of company management, which
includes appointment and dismissal of the CEO. Folketrygdfondet considers that board members
can only supervise company management adequately if they are not recruited from among
management.