The CEO is subordinated to the board of directors and is responsible for the everyday management and operations of the company. The division of work between the board of directors and the CEO is set out in the rules of procedure for the board of directors and the CEO’s instructions. The CEO is also responsible for the preparation of reports and compiling information for the board meetings and for presenting such materials at the board meetings.

According to the instructions for the financial reporting, the CEO is responsible for the financial reporting in the company and consequently must ensure that the board of directors receives adequate information for the board of directors to be able to evaluate the company’s financial condition.

The CEO must continuously keep the board of directors informed of developments in the company’s operations, the development of sales, the company’s result and financial condition, liquidity and credit status, important business events and all other events, circumstances or conditions which can be assumed to be of significance to the company’s shareholders.

The board of directors appoints the company’s CEO. The board of directors follow written rules of procedure, which are revised annually and adopted by the inaugural board meeting every year. Among other things, the rules of procedure govern the practice of the board of directors, functions and the division of work between the members of the board of directors and the CEO. At the inaugural board meeting, the board of directors also adopts instructions for the CEO, including instructions for financial reporting. In addition to board meetings, the Chairman and the CEO have a continuous dialogue concerning the management of the company.

Actic’s executive management team consists of the CEO, CFO and IR-director. In addition to the executive management team, the two segments Nordics and Germany have separate operational management teams. These teams consist of the CFO, the IR-director, the managers of the group-wide support functions Human Resources, Sales and Market, New Establishment, Business Development and Concept, as well as the segment’s country managers and Germany’s regional managers. The CEO directs the work within the operational executive management teams.

Actic operates with a de-centralised structure, where club managers are responsible for budgeting and reaching the decided EBITDA targets, as well as creating action plans, in line with the group’s strategic plan, to locate areas of improvement and construct market plans which ensure that budget targets are met. Club budget targets are decided in conjunction with the group’s strategic plan and with support and guidance from the management team. The active planning of operations at club level enables Actic to maximise both efficiency and profitability.