Good corporate governance is about ensuring that companies are
managed as efficiently as possible in the interests of the shareholders.
H&M applies the Swedish Corporate Governance Code (the Code)
and has therefore prepared this corporate governance report in
accordance with the Annual Accounts Act and the Code. H&M has
applied the Code since 2005. This corporate governance report for
2014 describes H&M’s corporate governance, management and
administration as well as internal control over financial reporting.
The report was prepared by the company’s board of directors and
has been reviewed by the company’s auditors.
H&M has chosen to have the corporate governance report as a separate
document to the annual report in accordance with chapter 6 § 8
of the Swedish Annual Accounts Act. The information that must be
provided under chapter 6 § 6 items 3–6 of the Annual Accounts Act
is included in the administration report on page 64 of H&M’s annual
report for 2014 and is therefore not included in this corporate governance
report. In accordance with chapter 6 § 9 of the Annual Accounts
Act the company’s auditors have issued a statement on the corporate
governance report that can be found on page 104.
PRINCIPLES OF CORPORATE GOVERNANCE
H & M Hennes & Mauritz AB is a Swedish public limited company.
H&M’s class B share is listed on Nasdaq Stockholm. The H&M group
is managed in accordance with both external regulations and internal
control documents.