Corporate governance principles
Good corporate governance ensures that Skanska is managed responsibly, efficiently and in a sustainable way on behalf of all of our stakeholders including but not limited to shareholders, customers, suppliers, society and employees. Corporate governance describes how rights and responsibilities are distributed among corporate bodies according to applicable laws, rules and regulations as well as internal rules and processes. The purpose of corporate governance is also to ensure oversight by the Board of Directors and management, guide our employees in good business conduct and ensure a sound risk culture.
Skanska’s Class B shares are listed on Nasdaq Stockholm in the Large Cap segment. As a Swedish public limited company with shares listed on Nasdaq Stockholm, Skanska is subject to a variety of external rules that affect our corporate governance. In addition, Skanska has adopted internal rules to govern the Group as well as processes for monitoring compliance with external and internal rules by all business units and functions in the Group.
Key internal governing documents
- Articles of Association
- Procedural Rules for the Board and its Committees
- Instructions for the President and CEO
- Group steering documents, including Group policies, standards and procedures, guidelines, and business processes for approval, control and risk management
- Skanska’s Code of Conduct
Key external governing documents
- Swedish Companies Act
- Nasdaq Nordic Main Market Rulebook for Issuers of Shares
- Swedish Corporate Governance Code
- Swedish Annual Accounts Act
- Swedish Securities Market Act
- EU Market Abuse Regulation
- International Financial Reporting Standards (IFRS) and other accounting rules
- Non-Financial Reporting Directive (NFRD)
- EU Taxonomy
- Global Reporting Initiative (GRI) Standards
Skanska operates with a decentralized governance model that recognizes the local characteristics of the construction and development markets, empowering the business units to develop their business and deliver according to plan, while retaining the profit and loss responsibility. Skanska's strategy and targets are set at Group level to ensure effective financial capacity and conduct proper follow-up on business unit performance and compliance. In the decentralized governance structure, as a rule, requirements are established at Group level, while the business units are responsible for how requirements are met. Each business unit is headed by a president and has its own administrative functions and other resources to conduct its operations effectively. Aside from day-to-day operations managing projects, the business units deal with matters such as their strategic development, business plans, investments, divestments and organization. Further information about Skanska's strategy is available in the Annual and Sustainability Report.
Further information about Skanska's corporate governance is available in the Corporate Governance Report.