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ADE 174.85
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Board and Management team

The Management Team

The Board

The board

 

According to corporate law, the Board is responsible for the overall management of the company, while the CEO is responsible for the day-to-day management. The Board has also established an audit and risk committee, a remuneration committee and an integration committee.

The role of the Board is to supervise the day-to-day management as carried out by the CEO and Adevinta’s general activities and ensure that appropriate management and control systems are in place. The Board appoints the CEO and stipulates the job instructions, powers of attorney and terms and conditions of employment for the CEO.

The Board has established internal rules of procedures that describe its responsibility, duties and administrative procedures. The rules of procedure also describe the duties of the CEO and his/her duties vis-à-vis the Board. The Board performs an annual self-assessment of its work which forms the basis for the nomination committee’s annual evaluation of the Board’s work.

The Articles of association define that the Board shall comprise from five to thirteen members.
Within this range, the number of directors is determined by the general meeting, provided that the general meeting elect a sufficient number of directors to ensure that a majority of directors at any time are elected by the general meeting.

As of today, the Board consists of ten (10) members, six of whom have been appointed by shareholders at the Annual General Meeting of the Company for a term of one year; the other four members have been appointed directly by the Company’s significant shareholders (Schibsted and eBay) in accordance with their rights under Article 6 of the Company’s Articles of Association.