8. Corporate assembly
NextGenTel does not have a corporate assembly. NextGenTel Holding ASA has no employees and the employees of NextGenTel AS are represented on the board of directors of the parent company. The company aims to ensure a balanced composition of the board of directors taking into account the competence, experience and relevant background of the individuals. The composition of the board of directors complies with the requirements stated in the Norwegian Code of Practice for Corporate Governance with respect to the directors’ independence towards the company’s management and towards the company’s material business contacts.
The directors’ independence is further demonstrated by the fact that there are few cases of disqualification of members in cases considered by the board of directors. There are no representatives from executive personnel on the board of directors.
The board consists of six members: Lars B. Thoresen (chairman), Kari Mette Toverud, Ellen M. Hanetho, Espen Fjogstad, Linn Anette Husøy (employee repr.) and Vidar Skogedal (employee repr.). All board members are considered to be independent of the company’s management and material business contacts. The directors are elected for two-year terms. Board members are encouraged to own shares in the company.
Additional information on each of the directors, their experience, qualifications and ownership of options/shares in NextGenTel is available at www.nextgentelholding.com.