At the 2002 AGM the Chairman of the Board announced that a nominations committee would be introduced. The committee was formed by the Chairman contacting larger shareholders during the autumn before the AGM to establish three shareholders willing to be members of the nominations committee.
Committees set up according to this procedure worked ahead of the AGMs for 2003-2008 and presented candidates for election to the Board and the position of auditor. They also proposed fees for Board members and auditors.
Ahead of the 2005 AGM the name of the nominations committee was changed to elections committee.