ARTICLES OF ASSOCIATION AND GOVERNING DOCUMENTS
Official statutes of the Gudrun Sjödén Foundation
§ 1 - The FOUNDATION's VISION shall align with the overarching objectives of the company (GSG AB) in the areas of design and craftsmanship, global sustainability within the textile field, and the support of women's entrepreneurship.
The PURPOSE of the Foundation shall be to promote the aforementioned areas concerning design and craftsmanship, sustainable environmental work within the textile field, and to encourage and contribute to global women's entrepreneurship.
The purpose shall be fulfilled through scholarships and contributions to selected activities for individuals or companies, as well as promoting scientific research within the field. Recommendations are made by a preparatory Scholarship Committee but are decided by the board.
§ 2 - The purposes of the Foundation are fulfilled by allocating the whole or parts of the proceeds in the form of interest, dividends, and the net value of capital gains for the purpose. (Add royalties from sales companies here regarding the use of the brand?)
§ 3 - The Foundation shall have its own administration and be managed by a board consisting of 3 (three) members appointed for a three-year period. Personal substitutes shall not be older than 75 years at the time of entry.
Board meetings and substitutes are appointed by the board of Gudrun Sjödén Group AB, except for a board meeting appointed by the Sjödén family. This right applies for 20 years forward, thereafter the foundation's board is appointed by the company board.
One of the members shall be a lawyer, and one member shall have specific knowledge of the company's ethical and brand policies.
The board appoints a chairman, who has the casting vote if only two members are present. (Demand that all should participate for the Board to be considered decision-making instead? What happens in the case of illness or death? In the case of prolonged illness (more than 3 months) / death, the board member should be replaced).
§ 4 - In its administration of the foundation's funds, the board shall consider both the need for good direct returns and the possibility of value growth. This shall be done in accordance with developed instructions.
§ 5 - The board has its registered office in Stockholm and meets twice a year.
§ 6 - The Foundation's financial year shall correspond to the calendar year.
§ 7 - The board's administration and the foundation's accounts shall be annually audited by an authorized auditor who simultaneously holds the position of auditor for Gudrun Sjödén Group AB.
§ 8 - The Foundation has the right to henceforth receive property through gift, will, or otherwise.
§ 9 - Changes to these articles can be made by a unanimous decision of the foundation's board. Changes to the foundation's purpose cannot be made without the approval of Kammarkollegiet or the competent authority.
§ 10 - The Foundation shall be under supervision according to the Foundation Act.
