The Corporate Assembly is a distinctly Norwegian body. It is primarily a supervisory body that supervises the Board of Directors and the management of the company by the President and CEO. The duties of the Corporate Assembly are set out in the Public Limited Liability Companies Act, Section 6-37 and the Articles of Association of Telenor ASA Section 7. The Corporate Assembly has adopted instructions that apply to the work and administration of the Corporate Assembly.
The composition of the Corporate Assembly is determined to ensure representation of a broad cross section of Telenor shareholders. The Corporate Assembly consists of a total of 15 members. The members and deputies are elected for terms of two years. Ten members and three deputies are elected by the General Meeting. Five members and two observers, with deputies, are elected by and from the employees pursuant to the rules in the regulations relating to the provisions of the Norwegian Public Limited Companies Act concerning the employees’ right to representation on the board of directors, corporate assembly, etc.