ADMINISTRATION REPORT

Corporate Governance Report

Getinge AB (publ) is a Swedish public lim- include Getinge AB’s Articles of Associa- Board members as well as the auditor’s ited liability company listed on Nasdaq tion, instructions and formal work plan for term of office Stockholm, Large Cap segment. Getinge the Board of Directors, Board committees • Adoption of the remuneration to applies the Swedish Corporate Gover- and CEO, various policies and guidelines Board members and auditor nance Code and hereby presents the as well and the Group’s Code of Conduct. • Reelection of all Board Members and Corporate Governance Report for 2016. The company’s Articles of Association are election of Johan Malmquist as a new available on the Group’s website: Board member Introduction www.getinge.com. • Reelection of Carl Bennet as Chairman Getinge Group is a global company in the of the Board medical device field with operations in 44 Shareholders • Reelection of Öhrlings Pricewater- countries and proprietary production in For information about shareholders and houseCoopers AB as auditor for Get- 11 countries. the Getinge share, see pages 40–41 inge until the conclusion of the 2017 The Group’s customers are found pri- and www.getinge.com. AGM marily in the healthcare, elderly care and • Guidelines for the remuneration to life science areas, and the Group’s prod- General Meeting of Shareholders senior executives ucts are often pivotal to the quality and Shareholders can exert their influence at • Establishment of the long-term share- efficiency of customers’ businesses. the Annual General Meeting (AGM) and, based incentive program, LTIP 2016, and Accordingly, confidence in Getinge and its when applicable, at an Extraordinary Gen- hedging activities in view of the pro- products is entirely decisive for continued eral Meeting, which are Getinge’s highest gram through amendments of the Arti- sales successes. decision-making bodies. cles of Association (entailing that the Corporate governance is aimed at All shareholders registered in the share- company shall be able to issue new con- ensuring the continued strong develop- holders’ register at a certain time before vertible and redeemable Class C shares ment of the company and, consequently, the Meeting and who have notified their with one (1) vote and not entitle to divi- that the Group fulfills its obligations to attendance to the Meeting before the time dends) and authorization for the Board shareholders, customers, employees, sup- given in the notice are entitled to partici- to resolve on a directed issue of Class C pliers, creditors and society. pate in the Meeting and exercise their vot- shares to a third party and the repur- Getinge’s corporate governance and ing rights in full. Shareholders who are not chase of such shares and transfer of internal regulations are consistently able to personally attend can be repre- Class B shares to the participants of the geared toward business objectives and sented by proxy. A shareholder who program strategies. The Group’s risks are well-ana- wishes to have a matter put forward at the lyzed and risk management is integrated General Meeting of Shareholders must Nomination Committee in the work of the Board and in operational submit a written proposal to the Board in a The Nomination Committee’s task is to put activities. timely manner so that the proposal can be forward proposals ahead of the AGM, Getinge’s organization is designed to be included in the notice of the AGM. regarding the election of the Chairman of able to react promptly to market changes. the AGM, the Chairman of the Board and Accordingly, operational decisions are 2016 Annual General Meeting other members of the Board, election of taken at a decentralized level, while over- The 2016 Annual General Meeting was auditors, as well as fees for Board mem- riding decisions concerning strategy and held on March 30 the Kongresshallen at bers and auditors. Pursuant to a resolu- direction are made by Getinge’s Board and Hotel Tylösand, in Halmstad, Sweden. A tion by Getinge AB’s 2005 AGM, the Nomi- the Getinge Executive Team. total of 1,005 shareholders, representing nation Committee comprises Getinge’s 61.3% of the number of shares and 75.9% Chairman and representatives of the five External and internal regulations of the total number of votes in the com- largest shareholders at August 31, 2016, as Getinge’s corporate governance is based on pany attended the AGM. Board Chairman well as a representative for minority Swedish legislation, as well as on the Swed- Carl Bennet was elected Chairman of the shareholders. Ahead of the 2017 AGM, this ish Corporate Governance Code (“the Meeting. All Board members elected by means that Getinge’s Nomination Com- Code”), Nasdaq Stockholm AB’s Rulebook the AGM were present. The minutes from mittee comprises: for Issuers and also the Swedish Securities the AGM are available at: www.getinge. • Carl Bennet, Carl Bennet AB Council’s opinions on good practice on the com. The decisions made by the AGM • Carina Lundberg Markow, Folksam Swedish stock market. This report summa- include: • Ossian Ekdahl, First Swedish National rizes how corporate governance is struc- Pension Fund tured and how it has been carried out and • Adoption of the income statements and • Per Colleen, Fourth Swedish National developed in the Group during the 2016 balance sheets presented for the Parent Pension Fund financial year. Getinge complies with the Company and the Group • Cecilia Marlow, Nordea and Code’s regulations and presents an expla- • Dividend in accordance with the • Viveka Ekberg, representing minority nation below for any deviation from the Board’s and the CEO’s proposal of SEK shareholders Code’s regulations in 2016. 2.80 per share for the 2015 financial year The internal steering documents relat- • Amendment to the Articles of Associa- The Nomination Committee conducts an ing to Getinge’s corporate governance tion regarding the highest number of evaluation of the Board and its work. A

GETINGE ANNUAL REPORT 2016 45 ADMINISTRATION REPORT

proposal for the new Board is subse- cles of Association, Getinge’s Board of The Board held its statutory meeting on quently drawn up by the Nomination Com- Directors is to comprise not fewer than March 30, 2016 and convened nine times mittee together with a proposal on remu- three and not more than nine members, during the year, with an average atten- neration to the Board of Directors and is with not more than nine deputy members. dance rate of 95% of the elected mem- submitted with the notice of the forth- The Board members are elected annually bers. At its scheduled meetings, the Board coming AGM. Shareholders who would like at the AGM to serve for the period up to addresses fixed agenda items in accor- to submit proposals to Getinge’s 2017 and including the next AGM. dance with the Board’s formal work plan, Nomination Committee, can contact the Employees have the right to appoint two including the business situation, budget, Nomination Committee by e-mail at representatives and two deputy members annual accounts and interim reports. The [email protected] or by mail: to the Board. In 2016, Getinge’s Board board has addressed as well comprehen- Getinge AB, Att: Nomination Committee, comprised nine members elected at the sive issues related to the economy and Box 8861, SE-402 72 Gothenburg, Sweden. AGM up until August when Alex Myers left associated cost issues, corporate acquisi- Chairman of the Board Carl Bennet was his position as CEO and Board member of tions and other investments, long-term appointed Chairman of the Nomination Getinge AB. Alex Myers was not replaced strategies, financial matters, and struc- Committee ahead of the 2017 AGM, which on the Board during the year. tural and organizational changes. deviates from the rules of the Code. The The Group’s President & CEO and CFO Carl Bennet was reelected Chairman of reason for this is the Chairman of the participate at the Board meetings, with the the Board at the 2016 AGM. The Chair- Board is very well suited to lead the Nomi- latter also serving as Secretary. Other senior man’s role is to lead and manage the nation Committee in an effective manner executives also participate when needed. Board’s work and to ensure that this is to achieve the best results for the compa- The work of the Board is governed mainly by conducted in an organized and efficient ny’s shareholders. the Swedish Companies Act, the Code and manner. It involves ensuring that the the Board’s formal work plan. The Board’s Board fulfills its responsibilities and moni- Board of Directors formal work plan is approved each year at tors the development of the company, and Primarily, the Board is responsible for the the statutory Board meeting. According to ensuring that the Board continuously organization of the company and the man- the current applicable formal work plan, the receives the information required for the agement of its affairs. In carrying out its Board will have approximately seven sched- Board to perform its work while maintain- duties, the Board must safeguard the uled meetings during the financial year. In ing the same level of quality in accordance interest of all its shareholders. It is also addition, the formal work plan will also with applicable regulations. The Chairman the Board’s duty and responsibility to determine the distribution of work and of the Board does not participate in the ensure that this Corporate Governance responsibility between the Board, the Chair- operational management of the company. Report is prepared. According to the Arti- man, Board committees and the CEO. According to the Code, the majority of

Board of Directors and Committees in 2016 Committees Attendance Remune­ Remune­ Year Auditing ration Board Auditing ration Board members elected by the AGM elected Dependent1 Committee Committee meetings Committee Committee Carl Bennet, Chairman 1989 ■ Chairman 9/9 3/3 Johan Bygge 2007 Chairman 8/9 5/5 Cecilia Daun Wennborg 2010 Member 9/9 5/5 Carola Lemne 2003 Member 8/9 5/5 Joacim Lindoff* 2016 ▲ 3/4 Johan Malmquist** 2016 ▲ Member 7/7 2/2 Alex Myers*** 2015 ▲ 4/4 Malin Persson 2014 Member 9/9 3/3 Johan Stern, Vice Chairman 2004 ● Member Member 9/9 5/5 3/3 Maths Wahlström 2012 Member 8/9 3/3 Board members appointed by employees Peter Jörmalm (deputy) 2012 8/9 Rickard Karlsson 2013 9/9 Åke Larsson 2014 9/9 Maria Grehagen-Hedberg (deputy member) 2014 8/9

1. As defined by the Swedish Corporate Governance Code * Joacim Lindoff participated in his capacity as Acting CEO from August. ■ Representative for Getinge’s principal owner Carl Bennet AB ** Johan Malmquist, former CEO, was elected member at the AGM held on ▲ President and CEO March 30 and participated at all subsequent Board meetings. ● Board member of Getinge’s principal owner Carl Bennet AB ***Alex Myers stepped down as CEO in August.

46 GETINGE ANNUAL REPORT 2016 ADMINISTRATION REPORT

the elected Board members are to be inde- Remuneration Committee preparing questions concerning remuner- pendent in relation to the company and its In 2016, Getinge’s Remuneration Commit- ation principles and remuneration and management and at least two of these tee comprised Board members Carl Ben- other employment terms and conditions members are also to be independent in net (Chairman), Johan Stern, Maths Wahl- for the CEO and other members of the relation to the Group’s largest sharehold- ström, Malin Persson and Johan Getinge Executive Team. The Committee ers. The Nomination Committee believes Malmquist. Except for Johan Malmquist, also prepares proposals to the Board on that the Board’s composition in Getinge who is to be regarded as dependent in his the guidelines for the remuneration to meets the requirements for independent capacity as former CEO, all other mem- senior executives, which the Board sub- members as stipulated by the Code. The bers of the Remuneration Committee are mits for decision at General Meetings. In Nomination Committee has observed that to be regarded as independent in relation addition, the Committee follows and eval- Alex Myers (up until August), in his capac- to the company and the executive man- uates ongoing and completed variable ity as CEO, and Johan Malmquist, in his agement. The fact that Johan Malmquist remuneration programs for the Getinge capacity as former CEO, are to be is a member of the Remuneration Commit- Executive Team during the year and the regarded as dependent in relation to the tee even though he is not considered as application of the guidelines for remuner- company and executive management, and independent in relation to the company ation to senior executives resolved at the that Carl Bennet and Johan Stern, as rep- and the company’s management consti- AGM. resentatives and Board members of Get- tutes a deviation from the rules of the inge’s principal owner Carl Bennet AB, are Code. The reason for this deviation is that Auditing Committee to be regarded as dependent in relation to Johan Malmquist, having been the compa- In 2016, Getinge’s Auditing Committee the largest shareholders. Other Board ny’s CEO and board member for many comprised Board members Johan Bygge members are deemed to be independent years, is well acquainted with the compa- (Chairman), Cecilia Daun Wennborg, in relation to the company, executive man- ny’s conditions in terms of, amongst other Carola Lemne and Johan Stern. All mem- agement and the largest shareholders. things, employee situation, supply of com- bers of the Auditing Committee are inde- The Board members’ individual share- petence and remuneration structures. pendent in relation to the company, exec- holdings, their independence in relation to In 2016, the Committee held three min- utive management and the company’s the company, executive management and uted meetings, including informal contact largest shareholders, with the exception the largest shareholders as well as their when necessary. The attendance of mem- of Johan Stern, who is not considered to other assignments in other companies are bers at the Committee meetings are pre- be independent in relation to the compa- presented in the table on page 46 and in sented in the table on page 46. ny’s largest shareholders. In 2016, the the presentation of Board members on Following written instructions, the Committee held five minuted meetings, pages 50–51. Remuneration Committee’s duties include including informal contact when neces-

Board and Committee meetings in 2016

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Board of Directors 1 2 3 4 5 6 7 8 9

Auditing Committee ■ ■ ■ ■ ■

Remuneration Committee ■ ■ ■

Board meetings 1 Annual accounts 2 Annual General Meeting 3 Interim Report 4 Interim Report 5 Changes in management 6 Company visit and Review of operations 7 Interim Report 8 New President & CEO 9 Budget

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sary. The attendance of members at the and continuously consults and confers announced the appointment of Mattias Committee meetings are presented in the with the external auditors. Perjos as President & CEO. He will take table on page 46. office on March 27, 2017. It is the CEO’s The company’s auditors participated in External auditors responsibility to implement and ensure all meetings convened by the Auditing Getinge’s auditors are elected at the AGM. that the strategies, business plans and Committee. Jointly with the auditors, the The auditors will review the Annual report, operational objectives agreed on by the Committee discussed and established the financial statements and the consolidated Board are carried out. It is also the CEO’s scope of the audit. financial statements as well as the man- responsibility to keep the Board up to date The Auditing Committee is a standing agement by the Board and CEO in accor- with information and essential manage- committee in the contact between the dance with generally accepted auditing ment information, to submit reports at the Board and the auditors, and continuously standards. After every financial year an Board meetings while keeping the Board reports on its work to the Board. The auditor’s report is presented to the Parent and Chairman continually updated about Auditing Committee follows written Company and a Group auditor’s report is the Group’s and company’s financial posi- instructions and its activities are to meet presented to the General Meeting. At the tion and future development opportuni- the requirements of the Swedish Compa- 2016 AGM, the registered accounting firm ties. The CEO is supported by the Getinge nies Act and the EU Audit Regulation. The Öhrlings PricewaterhouseCoopers AB was Executive Team comprising presidents of Committee’s tasks include assisting the elected auditor with the authorized public the regions, Business Category Units, sup- Nomination Committee with preparing accountant Johan Rippe as the Auditor in ply chain and Group-wide support func- proposals for resolutions by the General Charge. The current mandate period tions. At year-end 2016, Getinge Executive Meeting on election of auditors and fees expires at the 2017 AGM. The auditors Team comprised 12 individuals. These are to auditors, for which the Committee is to report to the Auditing Committee and the presented on pages 52–53 in this Annual monitor that the auditor’s mandate period Board on their findings. In addition to report. The Getinge Executive Team met does not exceed applicable rules, procure standard audit assignments, Öhrlings 12 times in 2016. The focus of the meetings the audit and present a recommendation PricewaterhouseCoopers AB provides was mainly the Group’s strategic and in accordance with the EU Audit Regula- advisory services and performs investiga- operational performance and on monitor- tion. The Auditing Committee is also to tions. Such assignments take place in ing results. examine and monitor the independence of accordance with the regulations deter- the auditors and pay particular attention mined by the Auditing Committee for Operational business and to whether the auditors provide other approval of the nature and scope of the corporate staff functions non-audit services. The Auditing Commit- services and the fees for such services. Getinge’s business operations comprise tee is also to publish guidelines on non-au- The performed assignments are not the EMEA, APAC and the Americas sales dit services provided by the auditors and, deemed to have given rise to a conflict regions with sales companies, the Busi- in applicable cases, approve the provision of interest. Details about the amounts ness Category Units Surgical Workflows, of such services in accordance with these of remuneration paid to auditors are Acute Care Therapies and Patient & Post guidelines. The Auditing Committee is to presented in Note 5. Acute Care Business Category Units, examine and monitor the consolidated whose main task is to develop world lead- financial statements and provide recom- CEO and Getinge Executive Team ing technologies and products within their mendations and proposals on ensuring Alex Myers left his position as President & respective fields, as well as the group the reliability of the financial reporting CEO of Getinge in August 2016, and function supply chain. Each unit is headed and monitor the efficiency of the compa- Joacim Lindoff has served as Acting Presi- by an operational management team ny’s internal control and risk manage- dent and CEO of Getinge since August 22, responsible for the business activities of ment. In addition, the Auditing Committee 2016 and leads Getinge’s ongoing opera- each unit. The operational management is involved in planning the external audits tions. On 3 November 2016, the Board team is the function below the Getinge

Fees for Board and Committee work 2016 (SEK)

Name Board fee Committee fee Total Carl Bennet 1,150,000 125,000 1,275,000 Johan Bygge 575,000 240,000 815,000 Cecilia Daun Wennborg 575,000 120,000 695,000 Carola Lemne 575,000 120,000 695,000 Johan Malmquist 575,000 92,000 667,000 Malin Persson 575,000 92,000 667,000 Johan Stern 575,000 212,000 787,000 Maths Wahlström 575,000 92,000 667,000 Total 5,175,000 1,093,000 6,268,000

48 GETINGE ANNUAL REPORT 2016 ADMINISTRATION REPORT

Executive Team that is responsible for financial manager, who is responsible for financial reports on a monthly basis and ensuring and monitoring that the deci- the financial control of the business unit the company’s financial position is dis- sions made are carried out. and for ensuring that the financial state- cussed at every Board meeting. The effi- Getinge’s Group functions are located ments are accurate, complete and submit- ciency of the internal control activities is centrally to coordinate finance, IT, legal, ted in good time prior to consolidated regularly followed up at different levels in human resources, communication and reporting. the Group and comprises an assessment marketing, group operations (project man- Risk assessment. Risk assessment is of the formulation and operative function agement, shared services and indirect based on the Group’s financial targets. of key control elements that have been spend) as well as quality control and regu- The overall financial risks have been identified and documented. latory compliance. These functions are defined and are mostly industry specific. Self-assessment and validation: Since responsible for creating applicable Group- By conducting quantitative and qualitative 2006, Getinge Group works with a formal- wide strategies and activity plans within risk analyses based on the consolidated ized process for the follow-up and evalua- their respective areas of responsibility balance sheet and income statement, Get- tion of the effectiveness of documenta- and driving, supporting and monitoring inge can identify the key risks that could tion and control activities. The control the development of the company based threaten the achievement of business and consists of both a Group-wide IT-based on their specific skills. financial targets. In addition, several units tool for self-assessment and validation of in each sales region and supply chain are the self-assessments. The validations are Internal Control and risk manage- analyzed to gain a more detailed under- carried out by controllers from another ment of financial reporting standing of the actual application of the business category unit. Self-assessments Description: At Getinge Group, internal existing rules and regulations. Accordingly, were conducted at all of the most import- control over the financial reporting is an measures to minimize identified risks are ant operating units within the Group in integral part of corporate governance. It formulated centrally within the Group. 2016. In conjunction with the standard comprises processes and methods to Control activities: The identified risks audits, the auditors conducted a valida- safeguard the Group’s assets and accu- related to financial reporting are handled tion of the internal control. The self-as- racy in the financial reporting, and in this by the company’s control activities. For sessment and validation function encom- manner, protects the shareholders’ invest- example, there are automated controls in pass the processes relating to financial ment in the company. IT-based systems that manage authority reporting, production, inventories, sourc- Control environment: Getinge Group’s levels and rights to authorization, as well ing and revenues from products and ser- organization is designed to quickly as manual controls, such as duality in the vices. The system of self-assessment and respond to changes in the market. Opera- day-to-day recording of transactions and validation provides the Board with a tional decisions are thus made at decen- closing entries. Detailed financial analy- proper overview of how the Group man- tralized level, while decisions on strategy, ses of results and follow-ups against bud- ages different flows of information, how focus, acquisitions and overall financial gets and forecasts supplement the opera- the Group reacts to new information and issues are made by Getinge Group’s Board tion-specific controls and provide overall how the various control systems function. and the Getinge Executive Team. The confirmation of the quality of the financial Outcome 2016: The follow-up of the internal control over the financial report- reporting. The Group follows standardized internal control in 2016 indicated that doc- ing at Getinge is designed to manage templates and models to identify and doc- umentation and control activities were, in these conditions. The basis of the internal ument processes and controls. all material respects, established at the control over the financial reporting com- Information and communication: The validated companies. Based on the inter- prises the control environment, including Group has information and communica- nal control that was conducted, the Board the organization, decision-making chan- tion procedures to promote completeness has decided that there is no need to intro- nels, authorities and the responsibilities and accuracy in the financial reporting. duce a separate audit function (internal that are documented and communicated Policies, manuals and work descriptions audit function). in steering documents. Each year, the are available on the company’s intranet Follow-on work: Over the next year, the Board adopts a formal work plan that reg- and/or in printed form. Information chan- continuing work related to internal control ulates the duties of the Chairman and the nels to monitor the efficiency of the inter- in Getinge Group will principally focus on CEO. The Board has established an Audit- nal controls in the Group is regularly risk assessment, control activities and fol- ing Committee to increase knowledge of reported to the relevant parties within the low-up/monitoring. An update of the risk the level of transparency and control of organization via implemented reporting analysis as regards relevant control pro- the company’s accounts, financial report- tools. cesses and risk areas is conducted as a ing and risk management, and a Remuner- Follow-up and monitoring: The finance recurring annual activity. In the Control ation Committee to manage remuneration department and management perform activities area, resources will be used to to CEO and the Getinge Executive Team. monthly analyses of the financial report- document additional processes resulting Each sales region and supply chain has ing at a detailed level. The Auditing Com- from the annual risk analysis. Depending one or more administrative centers that mittee follows up the financial reporting at on the outcome of the implemented are responsible for the day-to-day han- its meetings and the company’s auditors self-assessment, it may be necessary to dling of transactions and accounting. report on their observations and provide address reported shortcomings. Each sales region and supply chain has a recommendations. The Board receives

GETINGE ANNUAL REPORT 2016 49 ADMINISTRATION REPORT

Getinge’s Board of Directors

Carl Bennet (1951) Johan Bygge (1956) Cecilia Daun Wennborg (1963) Chairman of the Board Board member elected by AGM Board member elected by AGM M.Sc. (Economics), Dr. Tech. h.c. M.Sc. (Economics) M.Sc. (Economics) Assignments on Getinge’s Board: Chairman Assignments on Getinge’s Board: Chairman of Assignments on Getinge’s Board: Member of of the Board since 1997. Chairman of the the Auditing Committee. Board member since the Auditing Committee. Board member since Nomination Committee. Chairman of the 2007. 2010. Remuneration Committee. Board member Current assignments: Chairman of EQT Asia Current assignments: Board member of compa- since 1989. Pacific and member of the Executive Team, Vice nies including ICA Gruppen AB, Loomis AB, Current assignments: CEO of Carl Bennet AB, Chairman of Swiss Smile AG, Board member of Bravida Holding AB, Hotell Diplomat AB, Atvexa Chairman of the Board of Elanders and Lifco. Anticimex International AB, Chairman of PSM AB and Sophiahemmet. Board member of Holmen and L E Lundbergs­ International, China, and Board member of Previous assignments: Vice President of Ambea företagen. I-Med Radiology Network, Australia. AB, President of Carema Vård och Omsorg AB, Previous assignments: President and CEO of Previous assignments: CFO of Investor AB, acting President of Skandiabanken, Head of ­Getinge. Executive Vice President of Electrolux and CFO Swedish Operations at Skandia and President Shareholding: Holds 15,940,050 Class A shares of Electrolux. of Skandia Link. and 27,153,848 Class B shares through companies. Shareholding: Holds 5,000 Class B shares. Shareholding: Holds 750 Class B shares.

Åke Larsson (1966) Carola Lemne (1958) Johan Malmquist (1961) Board member, representative of Board member elected by AGM Board member elected by AGM Swedish Association of Graduate Engineers M.D, Ph.D., associate professor M.Sc. (Economics) Engineer, Research & Development Assignments on Getinge’s Board: Member of the Assignments on Getinge’s Board: Member of Assignments on Getinge’s Board: Deputy Auditing Committee. Board member since 2003. the Remuneration Committee. Board member representative since 2014. Current Assignments: CEO of the Confederation since 2016. Employed by Maquet Critical Care AB. of Swedish Enterprise. Associate professor at Current assignments: Chairman of Tingstad Shareholding: Holds no shares. Karolinska Institute. Chairman of Uppsala Pappers AB. Board member of Elekta AB (publ.), University. Board member of AFA Försäkringar. Mölnlycke Health Care AB, the Dunker Founda- Co-owner of CALGO holding company. tions, SCA AB and Trelleborg AB. Board member Previous assignments: President and CEO of of Chalmers University of Technology Founda- Praktikertjänst AB, Board member of the tion. Confederation of Swedish Enterprise, Investor Previous assignments: President and CEO of AB, MEDA AB, the Swedish Foundation for Getinge Group from 1997 to 2015, Business Area Strategic Research and Apoteket AB. CEO of Director within Getinge Group, President of Danderyds Sjukhus AB. Clinical Research Getinge Group’s French subsidiary, President Manager at Pharmacia & Upjohn AB. of subsidiaries in the Electrolux Group. Shareholding: Holds 2,300 Class B shares. Shareholding: Holds 55,555 Class B shares.

50 GETINGE ANNUAL REPORT 2016 ADMINISTRATION REPORT

Maria Grehagen Hedberg (1958) Peter Jörmalm (1959) Rickard Karlsson (1970) Deputy representative of the Swedish Metal- Deputy representative of Unionen Board member, representative of the Swedish workers’ Union Assembly Service Product Specialist. BCU Service Metalworkers’ Union Assembly Assignments on Getinge’s Board: Deputy Excellence Surgical Workflow. Assignments on Getinge’s Board: Board mem- representative since 2014. Assignments on Getinge’s Board: Deputy ber since 2014. Deputy 2013–2014. Employed Employed by Maquet Critical Care AB. 2012–2013. Board member 2014–2015. Deputy by Getinge Sterilization AB. Shareholding: Holds no shares. 2016–2017. Shareholding: Holds no shares. Employed by Getinge Infection Control AB. Shareholding: Holds no shares.

Malin Persson (1968) Johan Stern (1951) Maths Wahlström (1954) Board member elected by AGM Board member elected by AGM, Vice Chairman Board member elected by AGM M.Sc. in Industrial Engineering & Management of the Board M.Sc. (Economics) Assignments on Getinge’s Board: Member of M.Sc. (Economics) Assignments on Getinge’s Board: Member of the the Remuneration Committee. Board member Assignments on Getinge’s Board: Member of Remuneration Committee. Board member since elected by AGM since 2014. the Auditing Committee. Member of the Remu- 2012. Current assignments: CEO and owner of neration Committee. Board member since 2004. Current assignments: Chairman of KMG Capital Accuracy AB, Board member of companies Current assignments: Chairman of Healthinvest Partners, LLC, Surefire Medical, Inc. and in Tri- including Mekonomen, Hexatronic, Hexpol AB, Partners AB, Rolling Optics AB, Fädriften Invest omed AB. Board member and independent lead Konecranes Plc and Peab. AB, Skanör Falsterbo Kallbadhus AB and Harry director of Coherus Biosciences Inc, Board mem- Previous assignments: CEO of the Chalmers Cullberg’s Fund Foundation. Board member of ber of Alteco Medical AB, PCI HealthDev, LLC and University of Technology Foundation, many Carl Bennet AB, Elanders AB, Lifco AB, Circuit Clinical, Inc. years’ experience in major Swedish industrial RP Ventures AB, Swedish-American Chamber Previous assignments: More than 30 years’ interna- enterprises such as the Volvo Group. of Commerce, Inc. and Estea AB. tional experience in preventive care and healthcare Shareholding: Holds 2,000 Class B shares. Previous assignments: Active within SEB’s from such positions as CFO of the Gambro Group operations in Sweden and the US. and as CEO of Gambro Healthcare Inc. He has also Shareholding: Holds 30,104 Class B shares. served as CEO of Fresenius Medical Services and was a member of the Group management for Fre- senius Medical Care AG & Co KGaA. Shareholding: Holds 9,000 Class B shares.

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Getinge Executive Team

Joacim Lindoff (1973) Reinhard Mayer (1967) Carsten Blecker (1966) Acting President & CEO CFO President EMEA – M.Sc. (Economics) Diploma in Business Engineering and – PhD in Dentistry, Doctorate in Business – Swedish citizen Economics Administration – Employed at Getinge Group since 1999 – German citizen – German citizen – Shareholding: Holds no shares – Employed at Getinge Group since 2002 – Employed at Getinge Group since 2014 – Shareholding: Holds no shares – Shareholding: Holds no shares Previous experience: Executive Vice President of Getinge’s former Infection Control business Previous experience: CFO of Getinge’s former Previous experience: President WEMEA in Med- area. He has previously held senior positions at Medical Systems business area. He has previ- ical Systems and President Middle East & Africa NIBE and was Chairman of the medical technol- ously held senior positions in the finance func- for Getinge. Carsten’s previous experience ogy industry organization, Swedish Medtech, tion of companies including Lexware GmbH & includes positions at Biomet, McKinsey & Com- from 2010 to 2014. Co. and Dow Chemical. pany, Kimberly-Clark, Medtronic and Palex Medical.

Paul Lyon (1962) Markus Medart (1970) Raoul Quintero (1956) President Asia/Pacific Acting President Supply Chain and Chief Pur- President Americas – B.Sc. Engineering, degree in Business chasing Officer – B.A. Political Science Administration – Degree in Business Engineering – American citizen – Australian citizen – German citizen – Employed at Getinge Group since 2008 – Employed at Getinge Group since 2007 – Employed at Getinge Group since 2004 – Shareholding: Holds no shares – Shareholding: Holds no shares – Shareholding: Holds no shares Previous experience: President Maquet North Previous experience: Acting Executive Vice Previous experience: Chief Operating Officer America at Getinge. Raoul’s previous experi- President for Getinge’s former Extended Care at Getinge’s former Medical Systems until year- ence from the medical technology industry business area. He has more than 20 years of end 2015/2016. Prior to that, he held senior posi- including leading positions at Boston Scientific international experience from many different tions in Medical Systems, including President and Guidant Corporation. markets and has previously held senior posi- Surgical Workplaces and Purchasing Manager. tions at listed companies in both South-East Asia and Australia.

52 GETINGE ANNUAL REPORT 2016 ADMINISTRATION REPORT

Lena Hagman (1965) Felix Lara (1969) Magnus Lundbäck (1969) Executive Vice President Quality Regulatory President Patient & Post-Acute Care Executive Vice President Human Resources & Compliance – B.Sc. in Mechanical Engineering and MBA Sustainability – B.Sc. Chemistry and Textile Engineering – American citizen – PhD in Strategy and Organization and – Swedish citizen – Employed at Getinge Group since 2014 Licentiate of Science – Employed at Getinge Group since 2010 – Shareholding: Holds no shares – Swedish citizen – Shareholding: Holds no shares – Employed at Getinge Group since 2017 Previous experience: Senior Vice President – Shareholding: Holds no shares Previous experience: Until year-end 2015, Lena Marketing and Business Development at Hagman was Senior Vice President, Group Getinge’s Extended Care business area. He Previous experience: SVP Human Resources & ­Quality & Regulatory Compliance for Getinge has more than 15 years of experience from the Sustainability at Gunnebo Group. He has previ- Group. Lena has a broad background from the heathcare industry and has held senior posi- ously served as Executive Vice President field of quality and her experience includes tions in marketing and business development Human Resources and Sustainability at Getinge working at companies including Capio, at companies including Grünenthal Group and as Vice President of Human Resources at Neoventa Medical AB and Mölnlycke and Bristol-Myers Squibb. Volvo Car Corporation. Healthcare.

Frédéric Pette (1973) Kornelia Rasmussen (1977) Jens Viebke (1967) Acting President, Surgical Workflows Executive Vice President Communications & President Acute Care Therapies – B.Sc. in Economics, a Master’s degree in Brand Management – Executive MBA, PhD in Polymer Technology HR Management and an MBA. – International Business School, IHM Business and MSc Chemical Engineering – French citizen School and Communications at Jönköping – Swedish citizen – Employed at Getinge Group since 2013 University – Employed at Getinge Group since 2010 – Shareholding: Holds no shares – Swedish citizen – Shareholding: Holds no shares – Employed at Getinge Group since 2012 Previous experience: Frédéric Pette served as – Shareholding: Holds no shares Previous experience: Jens Viebke served as Chief Strategy Officer of Surgical Workflows at Chief Technology Officer of Acute Care Thera- Getinge until August 2016. He has previously Previous experience: Head of Group Commu­ pies at Getinge until June 2016. He had previ- held senior positions at companies including nications for Getinge Group. Prior to joining ously held positions at GE Healthcare Life Zimmer, Stryker and American Medical Getinge in 2012, she held several senior posi- Sciences. Systems. tions in communications at Volvo Car Corporation, including responsibility for global internal and external communication.

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