Board of directors

Alexander af Jochnick
Chairman of the Board

Born in 1971.
Elected to the Board in 2007.
Elected Chairman in 2014.

Member of the Remuneration Committee. Member of the Audit Committee. Member of the Nomination Committee.

BSc Stockholm School of Economics (Sweden).

Chairman of Oriflame Foundation. Board member of CL Intressenter AB, Credus Management AB, Postkodstiftelsen, NC Holding AB and Af Jochnick BV. Founder and board member of Serious Nature.

Shareholding in Oriflame as at 31 December 2015*: 418,884.
Not independent from the Company nor its major shareholders.

Mona Abbasi
Board Member

Born in 1973.
Elected to the Board in 2016.

University education from Umeå University, York University Toronto, Stockholm University as well as University College London, where she wrote a Master's thesis in Human Geography. She also has additional education from the Stockholm School of Economics.

Has no other Board assignments and holds no shares in Oriflame.
Independent from the Company and its major shareholders.

Magnus Brännström
Chief Executive Officer, CEO & President

Born in 1966.
Elected to the Board in 2005.

MSc Uppsala University (Sweden).

Chairman of Seldia, European Direct Selling Association, Vice Chairman of World Federation of Direct Selling Associations. Board member of Ferronordic Machines AB.

Shareholding in Oriflame as at 31 December 2015*: 303,000.
Not independent from the Company being CEO & President.

Anders Dahlvig
Board Member

Born in 1957.
Elected to the Board in 2010.

BSc Lund University (Sweden), MA Economics University of California (US).

Chairman of the Board of Inter Ikea Holding BV. Board member of Kingfisher plc, Hennes & Mauritz AB, Axel Johnsson AB, Resurs Bank AB and Pret à Manger.

Shareholding in Oriflame as at 31 December 2015*: 13,650.
Independent from the Company and its major shareholders.

Jonas af Jochnick
Board Member

Born in 1937.
Co-founder of Oriflame.
Elected to the Board in 1970.

LLB Stockholm University (Sweden), MBA Harvard Business School (US), Dr h c Stockholm School of Economics (Sweden).

Chairman of Medicover Holding S.A. and Celox S.A. Board member of Oresa Ventures S.A.

Shareholding in Oriflame as at 31 December 2015*: 4.367.190
Not independent from the Company or its major shareholders.

Robert af Jochnick
Board Member

Born in 1940.
Co-founder of Oriflame.
Elected to the Board in 1970.

LLB Stockholm University (Sweden), BSc Stockholm School of Economics (Sweden).

Chairman of Credus Management AB, Mint Capital Ltd and the af Jochnick Foundation. Board member of Medicover Holding S.A., Goodcause Foundation, Goodcause Holding AB and Research Institute of Industrial Economics.

Shareholding in Oriflame as at 31 December 2015*: 5.142.735**
Not independent from the Company nor its major shareholders.

Anna Malmhake
Board Member

Born in 1966.
Elected to the Board in 2014.

BSc Stockholm University (Sweden).

Chairman and CEO of Irish Distillers Pernod Ricard.

Shareholding in Oriflame as at 31 December 2015*: 0.
Independent from the Company and its major shareholders.

Christian Salamon
Board Member

Born in 1961.
Elected to the Board in 1999.

Member of the Audit Committee.

MSc Royal Institute of Technology (Sweden), MBA Harvard Business School (US).

Chairman of the Board of OSM Holding AB and NCAB Holding AB. Board member of Lamiflex Group AB, Oresa Ventures S.A and the Sweden America Foundation. Advisory board member of Sustainable Technologies Fund. Investment Committee member of Fagerberg & Dellby and eEquity.

Shareholding in Oriflame as at 31 December 2015*: 14.500.
Independent from the Company and its major shareholders.

Karen Tobiasen
Board Member

Born in 1965.
Elected to the Board in 2016.

BA in Business Economics from Copenhagen Business School, an E*MBA from SIMI and a Msc in Gestalt psycho therapy from Gestalt Akademin, Stockholm.

Has no other Board assignments and holds no shares in Oriflame.
Independent from the Company and its major shareholders.

In accordance with Swiss law, the Board is ultimately responsible for the management of the Company's affairs. The Board also monitors the performance of the obligations of the CEO, CFO and Deputy CEO, is responsible for ensuring that the Company's organisation fulfils its purpose, and conducts continuous evaluations of the Company's procedures and guidelines for management and investment of the Company's funds.

The Board has established rules of procedure which set forth how and when the Board convenes, and include instruction for the allocation of duties and responsibilities within and between the Board and the Executive Management. The rules of procedure also contain instructions for financial reporting and set forth how reporting to the Board is to proceed.

Oriflame's Board members are appointed at the Annual General Meeting and, unless re-elected, remain in office for a term of one year.

In accordance with Oriflame's Articles of Association, the Board shall consist of not less than two Board members without deputies. Currently, the Board consists of ten members. The Board consists of principal shareholders and persons independent of such shareholders. The CEO is also a member of the Board. For a transitional period the CFO is also a Board member (in order to facilitate administration related to the recent domicilation of the Oriflame Group in Switzerland). Remuneration to the Chairman of the Board and the Board members is determined by resolution adopted by the Annual General Meeting.

According to the rules of procedure, the Board shall convene no less than six times per year. At least one of the meetings each year is a strategy meeting, where the strategy of the Company Group for the coming years is reviewed.

The Board meetings usually begin with a discussion of the business and financial performance of the Group. The various financial reports and the Annual Report are reviewed and approved before being published. Other topics discussed at Board meetings include general strategies, overall business reviews, long and short-term targets, human resources, investments, capital distribution, compliance and remuneration. At the end of each year, the CEO and the CFO present the target and budget proposition for next year to the Board, who then reviews and discusses the proposal during one or several Board meetings. Following discussions and eventual adjustments, the Board approves the target.

The Board members participate in all discussions. Board members may however not vote or deliberate on any motion in which they have a conflict of interest. A Board member is not counted in the quorum of a meeting if a conflict of interest disallows him/her from voting on a particular motion. Board members shall declare the nature of any conflict of interest prior to deliberating and voting on the issue.

The CFO is generally invited to all Board meetings, and always to the Board meetings approving the quarterly results. Other members of the Oriflame Management are from time to time invited to meetings with the Board in order to present issues related to their specific areas of responsibility. Auditing and Internal Control issues are carefully considered by the Audit Committee and then reported to the Board of Directors. The auditors are invited to all regular Audit Committee meetings. At least once per year the Board meets with the auditors without the CEO or other members of senior management being present.