9.2.3 The removal or suspension of supervisors

This subsection addresses the issue about the removal or suspension of supervisors, which name refers to SNEDs in a Swedish board structure. This issue is important for the discussion about independence. If a certain person, group of persons or corporate body is responsible for the removal or suspension of the supervisor, this certain person, group of persons or corporate body has a certain power over the supervisor and this might influence the supervisor’s independence.

The general meeting may remove a member of the board of directors. The board of directors shall convene an extraordinary general meeting for this purpose if shareholders, who do not have less than ten per cent of all the shares in the company, demand such a meeting (Unger 2006: 5). The adoption of a resolution to remove a director appointed by the general meeting may not be subject to provisions in the articles of association of the company that require more than a single majority, according to sections 7: 40 SCA and 7: 59 SCA.