Board of Directors
Board of Directors
The Board of Directors is in charge of the organisation of the company and management of the company's long-term operations. The Board shall also issue guidelines and instructions to the CEO. In addition, the Board shall ensure that the company's organisation in respect of accounting, management of funds and the company's financial position in general includes satisfactory control.
Board members
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Ebba Ljungerud
Chair of the Board
Swedish citizen
Born 1972
Background add
Ebba Ljungerud was elected Chair of the Board of Nelly in 2023. She is Chair of the Board of Canucci AB and a board member of Kjell Group AB (publ) and Goal AB. Ebba is also Chief Executive Officer and Group CEO of RugVista Group AB (publ). She has previously served, among other roles, as CEO of Paradox Interactive AB (publ), a Swedish listed gaming company, and has held several senior positions at Kindred Group PLC and Betsson AB (publ). She has also been a board member of Paradox Interactive AB (publ) and Bingo.com Ltd. Ebba holds a degree in Business Administration from Lund University.
Independent in relation to the company, executive management and major shareholders.
Shareholding (including related parties): 121,667 shares.
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Lennart Sparud
Board Member
Swedish citizen
Born 1969
Background add
Lennart Sparud was elected Board Member of Nelly in 2023. Lennart is CFO of Tollsbo Group AB. He is also a board member of SETEK Group AB, Spencer Invest AB and DPJ Workspace AB. He has previously served as a board member of Alelion Energy Systems AB (publ) and as CFO of, among others, Hexatronic Group AB (publ), Thunderful Group AB (publ), Salinity Group AB, Vagabond International Aktiebolag, Profura AB and Hjo Installation AB. Lennart holds a Bachelor’s degree in Business Administration and Law from the University of Gothenburg.
Independent in relation to the company, executive management and major shareholders.
Shareholding (including related parties): 5,000 shares.
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Lars Axelsson
Board member
Swedish citizen
Born 1979
Background add
Lars Axelsson was elected Board Member of Nelly in 2025. Lars Axelsson is COO of STC Training Club. He has more than 20 years of experience from multinational companies such as H&M, where he has served as Head of Merchandising and held several global roles, including Managing Director of Arket and Sales Director at & Other Stories, as well as working with business development. Lars holds a Bachelor’s degree in Business Administration from Bond University, Australia, and has studied Economics and IT at IHM Business School in Gothenburg.
Independent in relation to the company, executive management and major shareholders.
Shareholding (including related parties): 1,000 shares.
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Stefan Palm
Board Member
Swedish citizen
Born 1970
Background add
Stefan Palm was elected Board Member of Nelly in 2022. Stefan has more than 30 years of experience in the fashion and textile industry and is the founder, board member and CEO of Lager 157 AB. He is also a board member of W Sportsmedia AB.
Independent in relation to the company and executive management, but not independent in relation to major shareholders.
Shareholding (including related parties): 5,106,605 shares.
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Josephine Bernadotte
Board member
Swedish citizen
Born 1984
Background add
Josephine Bernadotte was elected Board Member of Nelly in 2020. She is Managing Partner and board member of Rite Ventures, and Chair of the Board of Söder Sportfiske AB. She has previously served, among other roles, as Chair of the Board of Skincity and as a board member of Paradox Interactive AB and CDON AB. Josephine holds a Master of Science in Business and Economics from the Stockholm School of Economics.
Independent in relation to the company and executive management, but not independent in relation to major shareholders.
Shareholding (including related parties): Rite Ventures holds 10,461,570 shares.
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Mikaela Willman
Board member
Swedish citizen
Born 1989
Background add
Mikaela Willman was elected Board Member of Nelly in 2025. She is also a board member of CDON AB, Frank Dandy Holding AB and Pros Mexico AB. She has previously served as Chief of Staff and board member of Cardo Health AB, worked as an Engagement Manager at McKinsey & Company, and driven business development for H&M’s e-commerce division. She holds a Bachelor’s degree in International Business from the University of Warwick.
Independent in relation to the company and executive management, but not independent in relation to major shareholders.
Shareholding (including related parties): Rite Ventures holds 10,461,570 shares.
Responsibilities and duties of the Board of Directors add
The Board has overall responsibility for the organization and management of Nelly Group. The Board has adopted working procedures for its internal activities that include rules pertaining to the number of regular Board meetings, which issues are to be handled at regular Board meetings, the duties of the Chairman and instructions regarding division of duties between Nelly Group’s Board, the Board’s committees and the CEO.
The work of the Board is also governed by rules and regulations, including the Swedish Companies Act, Articles of Association and Swedish Code of Corporate Governance.
In order to carry out its work more effectively, the Board has appointed a Remuneration Committee and an Audit Committee with special tasks. These committees handle business within their respective areas and present recommendations and reports on which the Board may base its decisions and actions. However, all members of the Board have the same responsibility for decisions made and actions taken, irrespective of whether issues have been reviewed by such committees or not.
The Board has also issued instructions to be followed by the CEO. The instructions require that major investments in fixed assets must be approved by the Board. The Board must also approve major transactions, including acquisitions and divestments or closure of businesses. In addition, the Board has also issued written instructions specifying when and how information that is required for the Board to evaluate the Group’s and its subsidiaries’ financial positions should be reported.
The rules of procedure that are adopted annually by the Board include instructions on which financial reports and what financial information shall be submitted to the Board. In addition to the year-end report, interim reports and the annual report, the Board also examines and evaluates extensive financial information related to both the Group and various entities within the Group. The Board also examines, primarily through the Audit Committee, the most significant accounting policies applied in the Group regarding financial reporting, as well as any key changes to these policies. The Audit Committee is also tasked with examining reports on internal controls and the processes for financial reporting, along with internal audit reports com-piled by the Group’s external function for internal auditing. The Group’s auditor reports to the Board as required, but at least once a year. At least one of these reporting occasions occurs without the CEO or any other member of executive management being present. The Group’s auditor also participates in the meetings of the Audit Committee. The Audit Committee meetings are minuted and the minutes are made available to all Board members and the auditors.