AAK Annual Report 2019

42 42 Chairman of the Board: Another strong year for AAK As Chairman of the Board, it is with great pleasure I look back at another strong year for AAK, during which the company has further strengthened its position as a leading company within the world of speciality vegetable oils and fats. AAK has continued to deliver profitable growth and three strategic acquisitions have expanded both the company’s geographic footprint and its ingredient portfolio. Another important milestone during the year has been to develop a new strategic direction which was launched in November. With this strategic direction in place and with a clear ambition of further accelerating growth organically combined with carefully selected mergers and acquisitions, I look upon the future of AAK with great enthusiasm. Corporate governance AAK is a very well-run company made up by competent and highly motivated colleagues. How to continue to achieve profitable and sustainable growth are goals that characterize all discussions and decisions by the Board and all AAK units. Working toward these goals, it is important that our decision-making processes and responsibilities comply with relevant rules and regula- tions and with the company’s business principles. With this report we want to illustrate our effective and clear corporate governance and show that we always work in the shareholders’ best interest. 2019 saw two changes to the Board of Directors. In connection with the Annual General Meeting, we welcomed Patrik Andersson as new board member, and at the end of the year Lillie Li Valuer decided to leave her position as board member due to new external commitments. On behalf of the Board, I would like to thank Lillie for her engagement during her time as board member of AAK. Encouraging sustainability work There has been good progress within AAK’s sustain- ability work as well, which is very encouraging. Sustainable products and solutions have been devel- oped and put to market, we have seen improvements within resource efficiency, and the company has reduced its carbon dioxide emissions. Furthermore, there are strong engagements in AAK’s supply chains. A great example is the company’s Kolo Nafaso program in West Africa which now involves more than 230,000 shea-collecting women. At the end of last year, I had personally the opportunity to observe the program first- hand in West Africa and the impact it has on the women and their communities is nothing less than tremendous. On behalf of the Board of Directors, I would like to thank AAK’s management team and all employees around the organization for great contributions during 2019. Your hard and dedicated work has been, and will continue to be, integral to the company’s growth and success. Georg Brunstam, Chairman of the Board