The Nominating Committee’s proposal for Board of Directors of Axfood

Axfood’s Nominating Committee has proposed re-electing Caroline Berg (to continue as Chairman), Björn Annwall, Mia Brunell Livfors, Christian Luiga, Peter Ruzicka, Kristofer Tonström and Sara Öhrvall ahead of the Annual General Meeting on 18 March 2026; director Fabian Bengtsson has declined re‑election. The committee — chaired by Marie Ehrling (Axel Johnson AB) with representatives from Swedbank Robur, Handelsbanken Funds and Lannebo Funds, and with Caroline Berg as a co‑opted member — will publish its full proposals, reasoned statements and biographies in the AGM notice on axfood.com. The slate maintains board continuity for the Stockholm‑listed food group (owner Axel Johnson AB) that runs Willys, Hemköp and City Gross and reports roughly SEK 90 billion in sales, ahead of the shareholder vote next March.

Analysis

The Nominating Committee of Axfood has proposed re-electing Caroline Berg as Chairman and directors Björn Annwall, Mia Brunell Livfors, Christian Luiga, Peter Ruzicka, Kristofer Tonström and Sara Öhrvall ahead of the Annual General Meeting on 18 March 2026; director Fabian Bengtsson has declined re-election. The committee states that its complete proposals, reasoned statements and biographical information will be published in the AGM notice on axfood.com, creating a clear timetable for investor review.

The Nominating Committee is chaired by Marie Ehrling (Axel Johnson AB) and includes representatives from Swedbank Robur Funds, Handelsbanken Funds and Lannebo Funds, with Caroline Berg as a co‑opted member. That composition and the principal ownership by Axel Johnson AB point to a controlled, continuity‑oriented slate rather than a contested governance outcome.

Axfood operates Willys, Hemköp and City Gross along with Snabbgross, Dagab, Urban Deli and partly owned Apohem and Eurocash, reporting close to SEK 90 billion in sales and more than 15,000 employees; maintaining the incumbent board signals limited immediate strategic change. Investors should therefore treat this as a governance continuity event while awaiting the published biographies to assess any shifts in board expertise or committee oversight resulting from Bengtsson’s departure.

Key Decisions for Investors

• Monitor the AGM notice and the published reasoned statements and biographies on axfood.com as soon as they are released to evaluate the replacement for Fabian Bengtsson and any changes to committee memberships
• Treat this nomination slate as near‑term neutral for shares given board continuity and the influence of principal owner Axel Johnson AB, and avoid adjusting core positions based solely on this announcement
• If governance or stewardship is part of your mandate, review the board’s independence and skill mix with attention to procurement, logistics and B2B oversight (Dagab and Snabbgross) and consider voting/engagement if material gaps appear
• Watch for follow‑up disclosures on committee assignments or unexpected departures ahead of the 18 March 2026 AGM as potential catalysts for a re‑rating