Leif Johansson
AUTOLIVAbout Leif Johansson
Independent director of Autoliv (ALV) since 2016; age 73. He serves on the Leadership Development and Compensation Committee (member) and is Chair of the Nominating and Corporate Governance Committee. He holds an M.Sc. in Engineering from Chalmers University of Technology. The Board classifies him as independent under NYSE and SEC rules and reported that all directors met at least 80% attendance of applicable Board/committee meetings in 2024.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Volvo Group | President & Chief Executive Officer | 1997–2011 | Led global OEM; deep automotive and manufacturing oversight experience |
| AB Electrolux | President & Chief Executive Officer | 1994–1997 | Consumer/industrial operator background |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| AB Aphrae (family company) | Chairman | Current | Private/family company role |
| Ecolean AB (private) | Chairman | Current | Private Swedish company |
| Knut and Alice Wallenberg Foundation | Board Member | Current | Major Swedish foundation; governance experience |
| Skansen Technologies (private) | Board Member | Current | Private Swedish company |
| Royal Swedish Academy of Engineering Sciences | Member | Current | Technical/engineering society |
| AstraZeneca PLC | Chairman of the Board | Prior | Chair between June 2012 and June 2023 |
| Telefonaktiebolaget LM Ericsson | Chairman of the Board | Prior | Chair 2011–March 2018 |
| SCA AB | Director | Prior | 2010–2016 |
Other current public company directorships: 0
Board Governance
- Committee assignments: Nominating & Corporate Governance Committee (Chair); Leadership Development & Compensation Committee (Member). In 2024, NCGC met 4 times; LDCC met 4 times.
- Independence and attendance: Board determined all nominees except the CEO are independent; each director attended at least 80% of aggregate Board/committee meetings in 2024. Board met 4 times; independent directors held executive sessions at least four times.
- Board leadership/evaluations: Independent, non-CEO Chair of the Board; as NCGC Chair, Johansson leads the Board’s annual self-evaluation process. No Lead Independent Director appointed for 2024–2025.
- Governance policies: Prohibitions on hedging/short-selling/pledging for directors; robust recoupment/clawback framework; double-trigger vesting on change-in-control for equity; no stock options outstanding since 2015.
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash (Leif Johansson) | $165,833 | As reported in 2024 Non-Employee Director Compensation table |
| Stock Awards (Grant-Date Fair Value) | $152,500 | RSUs granted; vest in one installment on May 8, 2025, subject to continued service |
| Total | $318,333 | Sum of cash + equity |
| Non-Employee Director Compensation Policy (Effective May 2024) | Cash | RSUs (Grant-Date Value) |
|---|---|---|
| Annual Base Retainer (All Non-Employee Directors) | $132,500 | $152,500 |
| NCGC Chair (Supplemental) | $20,000 | — |
| LDCC Member (Supplemental) | $7,500 | — |
- Stock ownership guideline for non-employee directors: 5x the cash component of the annual Board retainer; all non-employee directors elected prior to 2020 have achieved the guideline (Johansson joined 2016).
- No director meeting fees; semi-annual payments; directors may defer equity under the 2004 Non-Employee Director Stock-Related Compensation Plan (none deferred in 2024).
Performance Compensation
| Component | Performance-linked? | Details |
|---|---|---|
| Annual bonus | No | Non-employee directors do not receive performance-based cash bonuses |
| Equity awards | No (time-based) | Annual RSUs vest on the earlier of next annual meeting or one-year anniversary for the 2024 grant; 2024 vest date May 8, 2025 |
Director pay is a mix of cash retainer and time-vested RSUs; there are no director PSUs/options or performance metrics for directors.
Other Directorships & Interlocks
| Company | Type | Role | Interlock Notes |
|---|---|---|---|
| AstraZeneca PLC | Public | Chairman (prior) | No LDCC interlocks reported; Company states no compensation committee interlocks exist. |
| Ericsson | Public | Chairman (prior) | Same as above |
| SCA AB | Public | Director (prior) | Same as above |
Expertise & Qualifications
- Education: M.Sc. in Engineering, Chalmers University of Technology (Gothenburg, Sweden).
- Board skills (skills matrix): Public company leadership/board; automotive industry; manufacturing/operations; international business; corporate governance/sustainability; strategic leadership.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Leif Johansson | 11,980 | <1% | As of March 12, 2025; includes RSUs/PSUs vested Feb 21, 2025 |
- Policy prohibits hedging and pledging by directors; director stock ownership guidelines in place.
Governance Assessment
-
Strengths
- Independent director with deep OEM operating experience; chairs NCGC and sits on LDCC, directly implicating board refreshment, sustainability oversight, succession, and pay governance.
- Strong shareholder support on say-on-pay (97.0% in 2024; 97.1% in 2023; 97.6% in 2022) suggests confidence in compensation governance.
- Robust governance practices: independent committees, executive sessions, ownership guidelines, no options granted/outstanding, anti-hedging/pledging, double-trigger CoC vesting, and a broad clawback policy.
- Attendance: Board-wide compliance with 80%+ attendance threshold and formal annual board/committee evaluations led by NCGC Chair.
-
Potential watch items
- Age and retirement policy: Company policy sets retirement at 75 without waivers; Johansson is 73, implying potential turnover within two years absent a waiver.
- Related-party/independence: Board highlighted only one transactional relationship (Volvo Group) in its independence review for a different director (Lundstedt); Johansson’s independence was affirmed and no specific relationships were cited. Continued monitoring appropriate.
- Activist/Shareholder agreement context: Board includes a Cevian-nominated director under a cooperation agreement; NCGC oversight of board composition heightens the importance of balanced refreshment.
-
Shareholder engagement context: Management met with investors representing >70% of shares in 2024, with sustainability oversight routed through NCGC (which Johansson chairs).
No specific related person transactions involving Johansson were disclosed; the Audit & Risk Committee pre-approves any related person transactions under policy.