Board of Directors

The board decides in all significant matters and has overall responsibility for the strategy and management of the company.

Board members are trained every 3^rd year through classroom training.  In addition, new board members receive ethics and compliance training as part of the on-boarding.

Compensation Committee

The Compensation Committee is appointed by the Board of Directors (Board) of KONGSBERG and assists the Board and the CEO in matters related to for compensation, leadership development and diversity.

The purpose of the committee is to assist the board and provide an oversight function with respect to the following:

a) Reviewing, evaluating and preparing issues related to the compensation of the CEO as well as adjustments thereto
b) Reviewing, evaluating and preparing issues related to salary, incentives, pensions and employment agreements for senior management in KONGSBERG
c) Reviewing, evaluating and preparing KONGSBERG`s leadership development plans, leadership assessments and leadership replacement plans

Audit and Sustainability Committee

The Audit and Sustainability Committee consists of at least three board members who supervise corporate accounts, our financial reporting and internal audit, Enterprise Risk Management and the work of the external auditor.

The Audit and Sustainability Committee is appointed by the Board and perform an oversight function with respect to the following:

a) Monitoring KONGSBERG`S financial progress
b) Reviewing KONGSBERG`s consolidated financial statements and internal control with management and the auditor
c) Monitoring KONGSBERG`s compliance with its internal accounting and control policies
d) Monitoring KONGSBERG`s compliance with its Code of Ethics and Business Conduct as well as its compliance program