EQT : Annual and Sustainability Report 2024 EQT AB Corporate Governance Report 2024 | MarketScreener India
#01 This is EQT
#03 Sustainability notes
#05 Additional information
Corporate governance
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Statements of purpose
Corporate governance report
Why we existWhat we strive for
Corporate governance practices refer to the decision-making systems through which owners, directly or indirectly, govern a company. Good corporate governance is not only important for EQT AB's organiza- tion, it is also integrated in EQT's business model as it is part of the core of EQT's value creation strategy when advising and future-proofing the portfolio companies of the EQT funds.
EQT AB is a Swedish limited liability company governed by the Swedish Companies Act. As a listed company on Nasdaq Stockholm, EQT AB further adheres to the Swedish Code of Corporate Governance (the "Code"). The Code is published on www.corporategovernance- board.se, where a description of the Swedish Corporate Governance model can be found.
This Corporate Governance Report is submitted in accordance with the Swedish Annual Accounts Act and the Code. It explains how EQT AB has conducted its corporate governance activities during the financial year 2024.
EQT AB did not breach or deviate from the Nasdaq Stockholm Rule Book for Issuers, the Code or good stock market practice during the financial year 2024.
The Corporate Governance Report has been reviewed by EQT AB's auditor, as presented on page 183.
EQT is a purpose-driven global investment organization focused on active ownership strategies, while responsibly investing in, owning and developing companies and real assets. As established in EQT's articles of association, EQT shall strive to conduct its business in a way that future-proofs companies and has a positive impact with everything we do.
EQT has an enduring commitment to responsible investment and has since inception had a multi-stakeholder approach, with the original concept from EQT's founding in 1994 of being "more than capital". This concept still embodies the fundamental mindset that defines EQT and our active ownership approach. With an entrepreneurial spirit and passion for future-proofing companies, EQT continues to further incorporate the long-term ownership philosophy of the Swedish Wallenberg family.
Today, EQT is a differentiated global investment organization with a near three-decade history of responsibly investing in, owning and developing companies and real assets. With a Nordic heritage and a global mindset combined with well-grounded values and a deeply rooted culture, EQT funds have a track
Conni Jonsson | ||
Founder and Chairperson | ||
Margo Cook | Brooks Entwistle | Richa Goswami |
Board Member | Board Member | Board Member |
record of consistent and attractive returns across geographies, sectors and strategies.
As EQT has grown, our philosophy has been further ingrained into the EQT way of doing business. By taking an active role and working closely with management and boards, EQT supports its investments with hands-on governance and expertise, leveraged from both within the EQT platform and the global network of EQT Advisors. Providing both capital and competence constitutes the essence of EQT's active ownership approach and is difficult to replicate. It allows us not only to invest but also to be part of the solution and make a positive impact that prevails during and after EQT funds' ownership period, all while creating attractive returns for EQT funds' investors.
Shouldering the role as an active owner is not done overnight. It requires trust from multiple stakeholders and such trust is earned over time. At EQT, we have always been dependent on our license to operate to continue carrying out our mission. This has meant a continuous quest to gain and preserve confidence from a broad set of stakeholders such as portfolio compa- nies' employees and customers, fund investors, unions,
Christian Sinding
CEO and Managing Partner
Diony Lebot | Gordon Orr | Marcus Wallenberg |
Board Member | Board Member | Deputy Chairperson |
"To future-proof | "To be the most |
companies and make | reputable investor |
a positive impact | and owner." |
for all." | VISION |
PURPOSE |
What we do and how
"With differentiated talent and the best
global network, EQT uses a thematic investment strategy and distinctive value creation approach to create superior returns for EQT's investors."
MISSION
the media, and politicians - and since the public listing, also EQT AB's shareholders.
Going forward, we will develop EQT and our investments to prosper and be sustainable. We do this by promoting regenerative processes and equitable business practices and by ensuring that leadership is held accountable. We believe this will ensure that EQT stays successful and relevant for its investors and society as a whole for the long term.
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AUTHORIZATIONS
At the Annual Shareholders' Meeting held on 27 May 2024, the following authorizations were granted to the Board.
An authorization to, during the period until the Annual Shareholders' Meeting 2025, on one or more occasions, resolve upon issuances of new shares, convertible bonds and/or warrants to be paid in cash, by way of set-off and/or in kind. Shares, convertible bonds and/or warrants may be issued without preferential rights for the shareholders of EQT AB. The number of shares, convertible bonds and/or warrants issued may not correspond to a dilution of more than 10 percent of the total number of shares as of the first exercise of the authorization, after full exercise of the authorization. The purpose of the authorization is to provide flexibility for acquisitions of companies, businesses or parts thereof, as well as to increase financial flexibility for EQT and broaden the shareholder base. Any issue of new shares resolved upon pursuant to the authorization shall be made at market terms and condi- tions, taking into account the transaction as a whole. Warrants may be issued free of charge.
An authorization to, during the period until the Annual Shareholders' Meeting 2025, on as many occasions as it deems appropriate, make purchases of the company's ordinary shares. The number of shares purchased must at no time result in the company's holding exceeding 10 percent of all the shares in the company. The purchases are to be made on Nasdaq Stockholm or in accordance with an offer to acquire shares directed to all shareholders of the same share class or through a combination of these two alternati- ves. Acquisition of shares on Nasdaq Stockholm shall be made at a price per share within the price interval applicable at the time of acquisition. Acquisitions of shares by way of offers to acquire shares directed to all the company's shareholders of the same share class
shall be made at an acquisition price which is no more than 15 percent above the prevailing market price and no less than SEK 0. The purposes of the authorization are to enable the Board to adjust the company's capital structure, enable acquisitions of companies and business operations where payment is made with own shares, deliver shares to Board members as Board fee as well as mitigate the dilution impact from the compa- ny's incentive programs and acquisitions made by EQT.
SHAREHOLDERS' MEETINGS AND THE ANNUAL SHAREHOLDERS' MEETING 2025
According to EQT AB's articles of association, sharehol- ders' meetings are convened by publication of the convening notice in the Swedish National Gazette (Sw. Post- och Inrikes Tidningar) and on EQT's website. At the time of the notice convening a shareholders' meeting, information regarding the notice shall be published in the Swedish daily newspaper Dagens Industri.
Shareholders who wish to participate in a sharehol- ders' meeting of EQT AB must be included in the share- holders' register maintained by Euroclear Sweden AB ("Euroclear") on the day falling six banking days prior to the meeting and notify EQT AB of their participation no later than on the date stipulated in the notice convening the shareholders' meeting. Shareholders may attend the shareholders' meetings in person or by proxy and may be accompanied by a maximum of two assis- tants. Typically, it is possible for a shareholder to register for the shareholders' meeting in several different ways as indicated in the notice of the shareholders' meeting. A shareholder may vote for all shares in EQT AB owned or represented by the shareholder, without restrictions on the number of votes.
The Annual Shareholders' Meeting 2025 (the "AGM 2025") of EQT AB will take place on 27 May 2025 at
15:00 CEST. All documents related to the AGM 2025 will be published on EQT's website.
SHARES
At year-end 2024, EQT AB had 51,659 shareholders according to the shareholders' register maintained by Euroclear. The only shareholder representing more than one tenth of the shares and votes in EQT AB as of 30 December 2024 was Investor Investments Holding Aktiebolag, an indirect subsidiary of Investor Aktiebo- lag, with 14.0 percent of the capital and 14.0 percent of the votes. By virtue of the authorizations granted by the Annual Shareholders' Meetings held on 30 May 2023 and 27 May 2024, respectively, to repurchase EQT AB ordinary shares, 2,154,000 ordinary shares were repurchased during the course of the repurchase program which ended on 24 May 2024 and 2,000,000 ordinary shares were repurchased during the course of the repurchase program which ended on 23 August 2024. For more information about the EQT AB share and its largest shareholders, see section "The EQT AB share". Information on EQT AB's shareholder structure is also available on EQT's website.
NOMINATION COMMITTEE
Under the Code, all companies whose shares are listed on a regulated market in Sweden must have a nomination committee to prepare proposals regarding certain appointments by the shareholders' meeting. The main task of the nomination committee is to propose candidates for election to the Board, including the chairperson of the Board, and, where applicable, propose auditors for election to the shareholders' meeting. When nominating persons for election to the Board, the nomination committee shall determine whether in its view the persons nominated for election are considered independent of EQT AB, its senior management and the major shareholders in EQT AB. In addition, the nomina-
tion committee shall propose a candidate for election as chairperson of the Annual Shareholders' Meeting. The nomination committee shall also submit proposals concerning the remuneration of the chairperson of the Board, the other Board members and the auditors.
The nomination committee of EQT AB shall be appointed in accordance with the principles for appointment of the nomination committee. Set forth below are the principles for appointment of the nomination committee, adopted by the Annual Shareholders' Meeting 2024.
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4. If a shareholder (pursuant to section 1 or section 2) that has appointed a member to the nomination committee is no longer one of the shareholders who is given such right, at any point in time up to three months before the annual shareholders' meeting: - the member appointed by such shareholder shall
resign; and
- the shareholder who is the next largest sharehol- der in the Company (that has not appointed a member) or EQT Foundation (pursuant to section
Unless specific reasons suggest otherwise, the existing composition of the nomination committee shall, however, remain unchanged if such change in the ownership in the Company is only marginal or occurs during the three-month period prior to the annual shareholders' meeting. If a shareholder/EQT Foundation otherwise should have the right to appoint a member due to a material change in the ownership of the Company at any time during the three-months period prior to the annual shareholders' meeting, such share- holder/EQT Foundation shall, in any event, have the right to take part in the work of the nomination committee and participate in its meetings.
The composition of the nomination committee meets the requirements concerning the independence of the nomination committee. All AGM documents related to the nomination committee will be published on EQT's website.
Nomination committee for the AGM 2025 | ||
% of the votes per | ||
Members | Appointed by | 31 December 2024 |
Jacob Wallenberg | ||
(Chairperson) | Investor AB | 14.0 |
Cynthia Lee | Jean Eric Salata | 9.6 |
Harry Klagsbrun | Conni Jonsson | 3.8 |
Joachim Spetz | Swedbank Robur Funds | 1.9 |
Conni Jonsson | Chairperson of the Board | 3.8 |
AUDITOR
EQT AB's auditor shall review EQT AB's annual report and accounting, as well as the management of the Board and the CEO. Following each financial year, the auditor shall submit an audit report and a consolidated audit report to the Annual Shareholders' Meeting.
Pursuant to EQT AB's articles of association, EQT AB shall have no less than one and no more than two auditors with no more than two deputy auditors. Since 2011, EQT AB's auditor is KPMG AB.
For details on remuneration to the auditors, see Note 8.
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The Board
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CONNI JONSSON
Born 1960. Chairperson of the board since January 20122). Founder of EQT.
Education:
Bachelor of Science with majors in Economic Analysis and Accounting
Other current assignments:
Chairperson of the Board of Qarlbo AB and Goldonder AB. Board member of EQT Foundation, Pophouse Entertainment Group AB, Qarlbo Biodiversity AB, Qarlbo Energy AB and Qarlbo Property AB.
Previous assignments:
Chairperson of the Board of EQT Partnership Association. Chairperson of the Board and Board member of EQT Partners Aktiebolag and Qarlbo Partners AB. Board member of Bark Partners AB.
Shareholding in EQT AB1): 47,388,552 ordinary shares (indirectly) .
Independent of EQT AB and executive management: No.
Independent of major shareholders: Yes.3)
MARCUS WALLENBERG
Born 1956. Deputy Chairperson since June 2021.
Education:
Bachelor of Science, Foreign Service, Georgetown University, Washington D.C USA.
Other current assignments:
Chairperson of the Board of SEB, Saab, FAM, Patricia Industries and Wallenberg Investments. Deputy Chairperson of Investor and the Knut and Alice Wallenberg Foundation. Board member of AstraZeneca and Navigare Ventures AB. Chair of The Royal Academy of Engineering Sciences.
Previous assignments:
Chairperson of Electrolux, International Chamber of Commerce and LKAB. CEO of Investor. Board member of Stora Enso and Temasek Holding.
Shareholding in EQT AB1): 27,673 shares (indirectly).
Independent of EQT AB and executive management: Yes.
Independent of major shareholders: No.
MARGO COOK
Born 1964. Board member since June 2021.
Education:
Executive MBA, Columbia Business School, Bachelor's, Finance, University of Rhode Island. Chartered Financial Analyst (CFA).
Other current assignments:
Chairperson of the Board of University of Rhode Island Board of Trustees. Independent Chairperson of MerQube. Co-chairperson of the Board of Bridgewater Associates. Advisory Board member of Legalist.
Previous assignments:
Advisory Board member of TIFIN and President of Nuveen Advisory Services. Vice Chairperson of the Board of All Stars Project Inc.
Shareholding in EQT AB1): 5,048 shares.
Independent of EQT AB and executive management: Yes.
Independent of major shareholders: Yes.
BROOKS ENTWISTLE
Born 1967. Board member since June 2022.
Education:
Master of Business Administration, Harvard Business School, A.B., History, Dartmouth College.
Other current assignments:
Board member of Aspen Institute, The John Sloan Dickey Center for International Understanding at Dartmouth College and Young Life.
Previous assignments:
Managing Director and Senior Vice President International at Ripple. CEO Goldman Sachs India and Chairman Goldman Sachs SouthEast Asia. Board member of Global Synergy Acquisition Corp. and Chief Business Officer International at Uber.
Shareholding in EQT AB1): 4,010 shares.
Independent of EQT AB and executive management: Yes.
Independent of major shareholders: Yes.
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The Board, continued
RICHA GOSWAMI
Born 1972. Board member since May 2024.
Education:
Master of Science in International Marketing from University of Strathclyde. BS in Pharmaceutical Sciences from Goa College of Pharmacy.
Other current assignments:
Board member of the Mobile Marketing Association (APAC Chapter).
Previous assignments:
Group Chief Marketing Officer at Fidelity International, Chief Customer and Marketing Officer at HSBC, Global Chief Digital Officer at Johnson & Johnson and Global Head, Next Generation Banking at Standard Chartered Bank.
Shareholding in EQT AB1): -
Independent of EQT AB and executive management: Yes.
Independent of major shareholders: Yes.
DIONY LEBOT
Born 1962. Board member since June 2020.
Education:
Masters in Finance and taxation from University Pantheon Sorbonne.
Other current assignments:
Board member of Alpha Bank and Ayvens.
Previous assignments:
Deputy Chief Executive Office of Societe Generale, in charge of ESG policies, the group's financial services (ALD & SGEF) and Insurance activities of the Group.
Shareholding in EQT AB1): 10,096 shares.
Independent of EQT AB and executive management: Yes.
Independent of major shareholders: Yes.
GORDON ORR
Born 1962. Board member since October 2018.
Education:
Master in Engineering from Oxford University. MBA, Baker Scholar, Harvard Business School.
Other current assignments:
Chairperson of the Board of Westchel Ltd. Board member of China Britain Business Council, Lenovo Group Ltd, Meituan Ltd, Swire Pacific Ltd, and Fidelity China Special Situations PLC.
Previous assignments:
Board member of Sondrel Ltd, BioProducts Laboratory Ltd and PCH Ltd.
Shareholding in EQT AB1):
36,059 shares.
Independent of EQT AB and executive management: Yes.
Independent of major shareholders: Yes.
1) Shareholding as per 30 December 2024. Updated shareholding can be found on eqtgroup.com.
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According to EQT AB's articles of association, the Board members elected by the shareholders' meeting shall be no less than three and no more than ten without any deputy members.
Since the Annual Shareholders' Meeting held on 27 May 2024, the Board has consisted of seven members
and no deputy members or employee representatives. Six of the seven members elected at the Annual Share- holders' Meeting 2023 were re-elected at the Annual Shareholders' Meeting 2024, Johan Forssell declined re-election. Richa Goswami was elected as a new Board member at the Annual Shareholders' Meeting 2024.
The composition of EQT AB's Board meets the Code's requirements concerning independence. In the nomination committee's work for the AGM 2025, the nomination committee will apply rule 4.1 of the Code as diversity policy in its nomination work with the aim to achieve a well-functioning composition of the Board when it comes to diversity and breadth, as regards inter
alia gender, nationality, age and industry experience. Three of the seven members elected at the Annual Shareholders' Meeting 2024 are women (43%). All Board members, except Conni Jonsson, are considered independent in relation to EQT AB and the executive management (86%). All Board members, except Marcus Wallenberg, are considered independent in relation to the major shareholders (86%).
Evaluation of the Board and the CEO
The Board applies written rules of procedure, which are revised annually and adopted by the inaugural Board meeting each year. On an annual basis, the Chairperson of the Board initiates an evaluation of the performance of the Board. The objective of the evaluation is to provide insight into the Board members' view about the performance of the Board and identify measures that could make the work of the Board more effective. A secondary objective is to form an overview of the areas the Board believes should be afforded greater scope
and where additional expertise might be needed within the Board. All Board members participated in the 2024 evaluation. In addition, the Chairperson of the Board held individual conversations with each Board member to discuss the results of the evaluation to gain a better understanding of the Board's work during the year. As part of the annual evaluation process, the Chairperson reports the results to the nomination committee. The Board continuously evaluates the performance of the CEO by monitoring the development of the business in relation to the established objectives. A formal performance review is carried out once a year.
Work of the Board in 2024
During 2024, the Board held 10 Board meetings. The Board members' are expected to attend board meetings and the attendance during 2024 is shown in the table below. The Head of Business Development has been the secretary of Board meetings. Prior to each meeting, the Board members were provided with
written information on the matters that were to be discussed. Furthermore, there have been Board meetings where the Board members have had the opportunity to discuss matters without representatives of EQT AB's management being present. The main focus areas for the Board's work during 2024 have been on EQT's strategic priorities, including the performance of the company, the brand and marketing agenda and global leadership position. During the year, a temporary marketing and brand committee was established and Richa Goswami (Chairperson), Margo Cook, Suzanne Donohoe and Ricardo Reyes were appointed as members of the committee. The purpose of the marketing and brand committee is to develop and strengthen EQT's global brand within private markets.
Committee work is an important task performed by the Board. For a description of the work conducted by the committees during 2024, see the summary below.
In addition to participating in meetings of the audit committee, EQT AB's auditor also attended a Board meeting during which Board members had the opportunity to pose questions to the auditor without repre-
Attendance at board meetings and board remuneration in 2024
Attendance record, board and Committee meetings 2024 | Remuneration resolved by the annual shareholders' meeting 2024 (EURk) | |||||||||
Board | AudCo | RemCo | SustCo | Board | Audit | Remuneration | Sustainability | |||
Member | meetings1) | meetings | meetings | meetings | fee | committee | committee | committee | Total3) | |
Conni Jonsson (Chairperson) | 10/10 | 1/12) | - | - | 304.5 | - | - | - | 304.5 | |
Marcus Wallenberg (Deputy Chairperson) | 10/10 | - | 2/4 | - | 138.5 | - | 20 | - | 158.5 | |
Margo Cook | 10/10 | - | 4/4 | 3/4 | 138.5 | - | 40 | 20 | 198.5 | |
Brooks Entwistle | 10/10 | 3/3 | 4/4 | - | 138.5 | 20 | 20 | - | 178.5 | |
Johan Forssell | 4/4 | 3/3 | - | - | - | - | - | - | - | |
Richa Goswami | 6/6 | - | - | - | 138.5 | - | - | - | 138.5 | |
Diony Lebot | 10/10 | 6/6 | - | 4/4 | 138.5 | 40 | - | 20 | 198.5 | |
Gordon Orr | 10/10 | 3/3 | - | 4/4 | 138.5 | 20 | - | 40 | 198.5 | |
Total3) | 1,135.5 | 80 | 80 | 80 | 1,375.5 |
sentatives of EQT AB's management being present.
Board committees
In order to increase the efficiency of its work and enable a more detailed analysis of certain issues, the Board has formed an audit committee, a remuneration committee and a sustainability committee. The members of the committees are normally appointed at the inaugural Board meeting and the committees' duties and decision-making authorities are regulated in annually approved committee instructions. The primary objective of the committees is to provide preparatory and administrative support to the Board. The matters considered at committee meetings are recorded in minutes and reported at the following Board meeting.
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Representatives from EQT AB's central functions typically participate in committee meetings.
Diony Lebot (Chairperson), Gordon Orr and Brooks Entwistle were appointed as members of the audit committee at the inaugural Board meeting following the Annual Shareholders' Meeting 2024. The audit committee shall perform the tasks set out in applicable EU rules, the Swedish Companies Act and, to the extent appropriate, the Code. The audit committee shall monitor EQT's financial and sustainability reporting and the efficiency of EQT's internal controls and risk management as well as keep itself informed regarding the audit of the Annual and Sustainability Report and EQT's accounts and the review of the semi-annual report and preparation of the quarterly statements. The audit committee shall also review and monitor the impartiality and independence of the auditor.
Margo Cook (Chairperson), Brooks Entwistle and Marcus Wallenberg were appointed as members of the remuneration committee at the inaugural Board meeting following the Annual Shareholders' Meeting 2024. The purpose and aim of the remuneration committee is to address remuneration matters and ensure a comprehensive and well prepared and supervised remuneration model for the EQT AB Group's employees. The remuneration committee shall prepare the Board's decisions on principles for remuneration, including sustainability considerations, and other terms of employment for the executive management and monitor and evaluate the current remuneration structures and levels.
Gordon Orr (Chairperson), Margo Cook and Diony Lebot were appointed as members of the sustainability committee at the inaugural Board meeting following the Annual Shareholders' Meeting 2024. The sustainability committee provides a platform for debate on EQT's sustainability agenda between the Board and
executive management, uniquely positioning the firm to deliver positive impact and long-term performance for its clients. The committee convenes on a quarterly basis and shall act as a sounding board to the Board on EQT's sustainability strategy, ambition level and objectives, review the performance and progress as well as discuss emerging topics within the sustainability area.
Remuneration to the Board
Board fees, including fees to the Chairperson of the Board, are resolved by the shareholders' meeting. The shareholders' meeting has also resolved that the Board fees shall be paid in shares in EQT AB. Detailed information about remuneration, pensions and other benefits for the Board is set out in Note 7 and on EQT's website. The Board members are not entitled to any benefits following termination of their assignments as members of the Board. To the extent a Board member conducts work for EQT, in addition to the Board work, consulting fees and other compensation for such work may be paid.
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The Executive Committee
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CHRISTIAN SINDING
Born 1972. CEO and Managing Partner since January 2019. Deputy Managing Partner 2015-2019. Employed by EQT since 1998.
Education:
Bachelor of Science in Commerce with Distinction,
University of Virginia.
Other current assignments:
Board member of EQT Foundation, Baggins AG and Vidsjaa AS.
Previous assignments:
Board member of Cimbria A/S, Findus AB, Flexlink AB, Gambro AB, ISS AB, Plantasjen AS, Vaasan & Vaasan Oy, VTI Technologies, XXL ASA and EQT Partnership Association.
Experience:
Christian Sinding joined EQT in 1998 and became CEO and Managing Partner in 2019. Previously, he served as Deputy Managing Partner (2015-2018) and Head of EQT Equity (2011-2018) and worked across several key offices, including Stockholm, Munich, and Copenhagen. Before joining EQT, Christian worked for AEA Investors Inc., a U.S. based private equity firm.
Shareholding in EQT AB1): 26,250,000 ordinary shares directly and indirectly.
LENNART BLECHER
Born 1955. Deputy Managing Partner and Chairperson of EQT Real Assets. Employed by EQT since 2007.
Education:
Master of Laws, Lund University. Academy of American and International Law, University of Dallas.
Other current assignments:
Board member of White Mill AG, Nordkap Holding AG, Volito Aktie- bolag, Volito Fastigheter Aktiebolag and Volito Industri Aktiebolag.
Previous assignments: -
Experience:
Managing Director and Senior Banker in the investment bank of Unicredit/HypoVereinsbank, Munich. Managing Director at GE Commercial Finance, London. Various positions in the ABB Group, Zurich, such as General Counsel for the ABB Financial Services Group, President and Business Area Manager for ABB Structured Finance and ABB Equity Ventures.
Shareholding in EQT AB1): 25,000,000 ordinary shares.
SUZANNE DONOHOE
Born 1970. Chief Commercial Officer and Global Head of EQT-Ext (CXO). Employed by EQT since 2023.
Education:
B.A. in Government magna cum laude from Georgetown University. M.B.A. from the Wharton School at University of Pennsylvania.
Other current assignments:
Vice Chair of the Board and Member of the Executive Committee as well as Chair of the Finance Committee for Georgetown University's Board. Suzanne also serves as a Vice Chair of Georgetown's Wall Street Alliance which creates endowed scholarships for Georgetown University students.
Previous assignments:
Board member of Global Atlantic Financial Group, KKR Capital Markets and PAAMCO Prisma Holdings. Chairman, trustee and president of the Board of trustees of KKR Income Opportunities Fund.
Experience:
Before joining EQT, Suzanne was a Partner at KKR & Co from 2009- 2022. In that capacity, she founded and led the Global Client & Partner Group for over eleven years and then served as the firm's Global Head of Strategic Growth. Suzanne's experience prior to KKR included an extensive career at Goldman Sachs where she served from 1992-2009. During this period, she worked in both the Investment Banking and Investment Management Divisions and worked in both New York and in London. She became a Partner in 2000. Further, Suzanne has been involved in various philanthropic work, including serving as Board Member for the New York State
chapter of the Nature Conservancyand also serving on the Board of Fertile Hope, a charity which focused on delivering fertility resources to cancer patients.
Shareholding in EQT AB1): 56,250 ordinary shares.
CHRISTINA DREWS
Born 1970. COO since 2022. Employed by EQT since 2022.
Education:
MA from Cambridge University.
Other current assignments: -
Previous assignments:
COO of Helios Investment Partners LLP. Global CAO of Investment Banking Division. EMEA CFO and COO of Investment Banking Division.
Experience:
Global CAO for the Investment Banking Division (IBD), COO and CFO for IBD in EMEA. COO and on the Executive Committee of Helios Investment Partners LLP, with oversight for the firm's strategy development and implementation.
Shareholding in EQT AB1): 4,119 class C shares.
1) Shareholding as per 30 December 2024. Updated shareholding can be found on eqtgroup.com.
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The Executive Committee, continued
PER FRANZÉN
Born 1976. Deputy Managing Partner since January 2022.
Head of Private Capital since June 20211). Employed by EQT since 2007.
Education:
M.Sc in Economics and Business Administration from the Stockholm School of Economics with exchange studies at the University of St Gallen in Switzerland.
Other current assignments:
Chairperson of the Board of Browne Invest AB and Browne Invest 2 AB. Board member of Anticimex Group AB, Independent Vetcare Limited, Lago Invest AB and Lago Holding AB.
Previous assignments:
Board member of Academedia, Bark Partners AB, Duni, Securitas Direct, SSP, Automic, Evidensia, IFS and Eton.
Experience:
Per has worked in the Stockholm and Munich offices at EQT Partners and has been involved in a number of investments including IFS, Automic, SSP, AcadeMedia, Securitas Direct, IVC, Anticimex, Eton, Duni, Karo Pharma and Piab.
Shareholding in EQT AB2): 24,596,291 ordinary shares (indirectly).
BAHARE HAGHSHENAS
Born 1979. Global Head of Sustainable Transformation since 2021.
Education:
BS. Social Science from Mid-University in Sweden and a mini MBA from University of Chicago Booth School of Business in the UK.
Other current assignments: -
Previous assignments: Partner at Deloitte and Monitor Deloitte Nordic.
Experience:
Before joining EQT, Bahare worked at Deloitte Consulting for 10 years, with focus on Sustainability strategy and innovation as Partner and Executive Director of Acacia, Deloitte's Sustainability Innovation Hub. She has experience in the field of strategy, innovation and sustainability and has worked within purpose led ventures for 5 years as well as working in multi-stakeholder environments such as Red Cross and humanitarian sector, both as elected president and volunteer for 15 years.
Shareholding in EQT AB2): 5,190 class C shares.
KIM HENRIKSSON
Born 1968. CFO since October 2018.
Education:
Master of Science in Economics from Hanken School of Economics.
Other current assignments: -
Previous assignments: -
Experience:
Kim started his career at Morgan Stanley in 1994 and left the Nordic M&A team as a Managing Director in 2008. Between 2010 and 2015 Kim held the position as CFO at Munksjö and subsequently, he was a Partner and Corporate Finance Advisor at Access Partners.
Shareholding in EQT AB2): 247,676 ordinary shares and 12,394 class C shares.
MASOUD HOMAYOUN
Born 1980. Partner, Head of Infrastructure and Head of EQT Value-Add Infrastructure. Employed by EQT since 2008.
Education:
M.Sc. degree in Industrial Engineering and Management from Chalmers University of Technology.
Other current assignments: -
Previous assignments: NORD, Mongstad Group, Tampnet, Hector Rail, GB Railfreight, GlobalConnect and IP-Only.
Experience:
Masoud Homayoun joined EQT Partners in 2008 and is Partner and Head of Infrastructure and Head of EQT Value-Add Infrastructure. Masoud is a member of the Infrastructure Partners' Investment Committee, Infrastructure Portfolio Performance Review Committee and has been a board member in portfolio companies across digital infrastructure, energy & environmental, and transport sectors. Prior to joining EQT, Masoud worked at Bain & Company in Stockholm.
Shareholding in EQT AB2): 1,636,520 shares and 19,064 class C shares.
- On 17 February 2025, EQT announced that Per Franzén will succeed Christian Sinding as CEO and Managing Partner, effective as of the Annual Shareholders' Meeting on 27 May 2025.
- Shareholding as per 30 December 2024. Updated shareholding can be found on eqtgroup.com.
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