Maintaining the confidence and trust of all our stakeholders.
Corporate governance structure.
Framework for corporate governance.
The Board is the highest decision-making body in Klarna’s structure for management and control. The Board is responsible for the company’s organization and for the management of the company’s operations.
The Board members are elected by the shareholders at the annual general meeting (AGM) for a one-year term of office extending through the next AGM. The external framework does not require Klarna to have a nomination committee. The Board has not adopted a recruitment policy, and in practice, Board members are proposed and appointed by the shareholders holding a majority of the votes as well as the capital of the company. The Board has adopted Rules of Procedure that regulate the Board’s role and ways of working as well as special instructions for the Board’s committees. The Board has overall responsibility for the activities carried out within Klarna and has the following duties, among others:
- deciding on the nature, direction, and strategy of the business as well as the framework and objectives of the activities,
- regularly following up and evaluating the operations in relation to the objectives and guidelines established by the Board,
- ensuring that the business is organized in such a way that the accounting, treasury management, and financial conditions in all other respects are controlled in a satisfactory manner and that the risks inherent in the business are identified, defined, measured, monitored, and controlled in accordance with external and internal framework, including the Articles of Association,
- deciding on major acquisitions and divestments as well as other major investments,
- selecting, monitoring, and planning the succession of the Board members,
- appointment or dismissal of the CEO, the Chief Risk Officer, the Chief Compliance Officer, and the Chief Information Security Officer
- deciding which external party will perform the Internal Audit, and
- deciding on remuneration to the CEO, members of the CXO team as well as the heads of the control functions Risk Control and Compliance.
The reputation, experience, and assignments of the Board and the CEO.
The Board brings many years of professional experience from various sectors that are relevant to Klarna, for example, banking and finance including venture capital, e-commerce, technologies, payments, capital procurement, risk control, and compliance, accounting, international sales, entrepreneurship, and leadership. The Board composition also meets the need for knowledge and insight regarding the conditions and prerequisites for business in the various geographic markets where Klarna operates.
Meetings and attendance.
|Number of meetings||7||8|
|(of which per capsulam)||(0)||(0)|
|Roger W. Ferguson Jr.**||5||-|
*CEO and Board member
**Elected to the Board on 20 May, 2021
***Resigned from the Board on 20 May, 2021
The Chief Executive Officer.
Klarna’s Chief Executive Officer (CEO) is responsible for the day-to-day management of the Group’s activities in accordance with the external and internal frameworks. The CEO reports to the Board and submits at each board meeting a report on the performance of the business in relation to decisions made by the Board, among other things. The Board has adopted an instruction for the CEO’s work and duties which also regulates the division of responsibilities and the interaction between the CEO and the Board.
The CEO appoints the heads of corporate functions (CXOs) and the heads of the control functions. The Chief Risk Officer and the Chief Compliance Officer’s appointment and replacement are also approved by the Board.
The CEO is Sebastian Siemiatkowski. He works together with the CXOs in Klarna’s Group Management Team. They discuss matters of common concern to several corporate functions, strategic issues, business plans, financial forecasts, and reports, and usually meet on a weekly basis or when the CEO convenes a meeting.
The CXO team.
Chief Executive Officer
Chief Financial Officer
Chief Product Officer
Chief Technical Officer
Chief Marketing Officer
Chief Commercial Officer
Chief Operating Officer
Chief Expansion Officer
The CEO has, besides the CXO team, three separate committees at his disposal for the purpose of managing the operations:
Klarna's remuneration structure.
Statement of remuneration in Klarna in accordance with the Swedish Financial Supervisory Authority’s regulatory framework.
Here you find Klarna’s annual statements for the Klarna Group according to the Swedish Financial Supervisory Authority’s regulatory framework. Since 2020, this information is found in the Annual Report.
|Ersättningssystem 2019 (SV)||Ersättningssystem 2015 (SV)|