Board of Directors

The Board of Directors consist of 4-10 individuals elected by the annual general meeting. The directors hold office until the next general meeting. (Link: Articles of Association)

 

The Board maintains a number of committees which assist the Board with its tasks. Among the shareholders directly, a Nomination Committee is formed with the purpose of assisting the Board and the general meeting with selection, assessment and compensatory matters related to the Board. 

 

The Board compensation primarily consists of warrants. There is some flexibility to Scandinavian directors to substitute a portion of the warrants with cash remuneration if the tax rules of their domestic country is unfavorable towards equity compensation instruments.

 

The Board believes that remuneration in the form of warrants best strikes the balance between preserving cash, adhering to good corporate governance recommendations and director expectations. Warrants granted to directors are issued with 12 months vesting reflecting the compensation over 12 months of service between the annual general meetings.

 

The Board members do not receive additional payment for the work performed as committee chairpersons or members. 

 

It is the Nomination Committee that proposes the compensation of the Board for approval by the annual general meeting.

Members:


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Sam Szteinbaum - Chairman of the Board, USA

Sam Szteinbaum brings more than 20 years of international management and technology industry experience to Asetek. Much of his career was spent at Hewlett Packard where he served …

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Chris J. Christopher - Member, USA

Chris Christopher brings over 40 years of leadership, management and technology industry experience. During his long career with Hewlett Packard he served in a variety of leadersh…

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Peter Gross - Member, USA

Peter Gross is recognized as a thought leader in the mission-critical information and infrastructure design realm, has published numerous technical papers in the field, and is a f…

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Jim McDonnell - Member, USA

Jim McDonnell has a 36 year career of growth and accomplishment at Intermec Technologies, Hewlett-Packard and General Electric Co. where he had held leadership roles in sales and …

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Jorgen Smidt - Member, USA

Jørgen brings to Asetek more than 25 years of international operational and business management experience from the mobile telecoms industry. His business development expertise includes the…

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Knut Øversjøen - Member, Norway

Knut Øversjøen is an independent advisor/private investor with extensive experience from management positions within several industries: Partner in Carnegie Investment Banking, CE…

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