In accordance with MIPS’s Articles of Association, the Board of Directors shall consist of three to eight members. The Board of Directors currently consists of five members who were elected at the 2020 AGM. No member of the Board of Directors elected by the shareholders’ meeting is employed by MIPS. All of the members elected by the shareholders´ meeting are considered to be independent of the company and its management and in relation to the company’s major shareholders.
Thus, MIPS meet the requirements of the Code regarding the independence of the Board in relation to the company, the senior management and the company’s major shareholders.