Board of directors

All OPRA employees, managers and executives conduct its business under the direction of the Chief Executive Officer (CEO) and the oversight of the Board of Directors, to enhance the long-term value of the Company for its shareholders.

Responsibilities of the Board of Directors

Appointed by the shareholders at the General Meeting, the Board of Directors is the central governing mechanism between shareholders and executive management.

According to the Norwegian Public Limited Companies Act, the Board of Directors has the ultimate reponsibility for the management and supervision of the company.  The Board’s fundamental objective is the creation of shareholder value, including the protection and enhancement of the value of the company’s assets

The Board also assesses and ensures that systems are in place to manage the risks of OPRA’s business and sets the attitude and disposition of OPRA towards compliance with appliccable laws, environmental, safety and health policies, financial practices and reporting.

In fulfilling its primary responsibilities, the Board ensures that OPRA has:

• Established long-term goals and strategic planning processes
• Identified the principal risks of OPRA’s business and implemented appropriate systems to monitor and manage those risks
• Established processes to manage and measure executive management’s performance in achieving stated objectives, including accounting and financial reporting systems
• Established internal controls to effectively monitor OPRA’s operations, financial position and ensure compliance with appliccable laws, regulations and policies
• Adopted a communications program for effectively communicating with and receiving feedback from shareholders, employees, other stakeholders and the public

Information about remuneration and shareholdings of the Board of Directors is disclosed in the annual Consolidated Financial Statements of OPRA Technologies ASA.