Overview

Corporate governance, management and control of Oriflame is apportioned between the shareholders / SDR holders at the General Meetings of shareholders, the Board of Directors and the CEO in accordance with Luxembourg law and Oriflame's Articles of Association. Oriflame complies with applicable areas of the Swedish Code of Corporate Governance. Read more in Corporate Governance Report 2012

Annual General Meeting
The Annual General Meeting (AGM) is the company's highest decision-making forum. The meeting elects Oriflame's Board and Auditors.
   
           
Nomination committee
The nominating committee presents candidates to the AGM for election of inter alia Board members and presents proposals on the size of the fees paid to Board members.
 
The Board
The Board is elected by the AGM and is responsible for the management of the company's affairs in accordance with Luxembourg law. The Board of Directors continuously evaluates company procedures and ensures that guidelines for management and investment of company funds are followed. The Board consists of 9 Members.
Auditors
Auditors are elected annually by the AGM based on the proposal of the nominating committee.
   
   
Audit committee
The Board has an audit committee comprising of three individuals. The Board as a whole is however responsible for the internal control system for the purpose of securing shareholders investments and Group assets. The Board works to ensure that proper accounts are prepared and that financial information used for internal purposes as well as for publication is reliable.
   
Remuneration committee
Prepares remuneration establishes and reviews remuneration and terms of employment for the company's executive directors, senior executives and other key personnel.
   
CEO and Executive Management
The CEO and the Corporate Committee are charged with the day-to-day management of the Oriflame Group in accordance with guidelines and instructions from the Board.