Per Löfgren
NeonodeAbout Per Löfgren
Per Löfgren, age 61, has served as an independent director of Neonode Inc. since August 2014. He is an audit committee financial expert and currently chairs the Board’s Audit Committee. Professionally, he is Vice President and Chief Financial Officer for Segment Networks at Telefonaktiebolaget LM Ericsson since 2017 and has served as President of Ericsson AB since January 2015, with prior CFO roles across Ericsson globally; the Board has determined all directors, including Mr. Löfgren, are independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| Telefonaktiebolaget LM Ericsson | VP, CFO Segment Networks | 2017–present | Senior finance leadership at a Nasdaq Nordic-listed telecom company |
| Ericsson AB | President | Jan 2015–present | Corporate leadership role; aligns with extensive operational oversight |
| Ericsson (Global Services) | VP, Global Sales and CFO, Segment Global Services | Jan 2015–May 2017 | Finance and sales leadership for global services segment |
| Ericsson North America | VP & CFO | Feb 2011–Dec 2014 | Regional CFO; oversight of finance in North America |
| Ericsson (various business units) | Division CFO, Sales, management positions | Pre-2011 | Multiple international finance/operational roles |
External Roles
| Organization | Role | Type | Committees/Impact |
|---|---|---|---|
| Telefonaktiebolaget LM Ericsson | VP, CFO Segment Networks | Public company (Nasdaq Nordic) | Financial stewardship of Networks segment |
| Ericsson AB | President | Subsidiary of Ericsson | Executive leadership role |
Board Governance
- Board leadership: Chairman is Ulf Rosberg; no Lead Independent Director; CEO and Chair roles are separated .
- Independence: The Board determined all current directors are independent under Nasdaq rules .
- Committees and roles:
- Audit Committee: Per Löfgren (Chair), Peter Lindell, Ulf Rosberg; Audit Committee met 8 times in 2024 (5 times in 2023) .
- Compensation, Nomination & Governance (CNG) Committee: 2025 members—Peter Kruk (Chair), Peter Lindell, Ulf Rosberg; 2024 members—Cecilia Edström (Chair), Peter Lindell, Ulf Rosberg .
- Executive sessions: Independent directors regularly meet in executive sessions .
- Attendance: Board met 9 times in 2024 (14 in 2023); each director attended at least 75% of Board and committee meetings; only one director attended the 2024 and 2023 annual meetings .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Annual cash retainer (Fees Earned or Paid in Cash, $) | $21,077 | $24,083 |
| Stock awards ($) | — | — |
| All other compensation ($) | — | — |
| Notes (FX rate disclosed for conversion) | SEK→USD 10.6130 | SEK→USD 10.5691 |
- Directors do not receive per‑meeting fees; expenses for attending meetings are reimbursable .
- As of year-end, none of the directors held stock or option awards (i.e., no annual director equity grants outstanding) .
- Company’s Non‑Employee Director Compensation Policy example: newly appointed director Didier Schreiber receives $25,000 per year (indicative of baseline director cash compensation) .
Performance Compensation
- No performance-based compensation disclosed for directors (no RSUs/PSUs/options or performance metric frameworks for director pay; none outstanding at year-end 2024) .
- Hedging policy prohibits officers, directors, and employees from hedging or monetization (e.g., zero-cost collars, forward sales) .
Other Directorships & Interlocks
- No other public company board directorships disclosed for Mr. Löfgren in Neonode’s proxy .
Expertise & Qualifications
- Audit committee financial expert designation under SEC rules; serves as Audit Committee Chair .
- 30+ years in communications and technology industry with senior finance and operational roles at Ericsson .
- Board independence affirmed by the Board .
Equity Ownership
| Metric | As of Apr 22, 2024 | As of Apr 21, 2025 |
|---|---|---|
| Shares beneficially owned | 1,500 | 1,500 |
| Ownership % of common stock | <1% | <1% |
| Options/RSUs (vested/unvested) | None outstanding | None outstanding |
| Shares pledged as collateral | Not disclosed; no pledging noted | Not disclosed; no pledging noted |
Governance Assessment
-
Strengths
- Financial oversight: As Audit Chair and SEC “financial expert,” Löfgren enhances board effectiveness in audit, internal controls, and reporting integrity .
- Independence and structure: Board affirms independence; separation of Chair and CEO promotes governance checks and balances .
- Risk controls: Prohibition on hedging; adoption of clawback policy for executives indicates strong compensation governance infrastructure .
-
Alignment and engagement signals
- Ownership alignment: Personal holding of 1,500 shares (<1%) suggests limited “skin-in-the‑game”; no director equity awards outstanding as of year‑end .
- Attendance: At least 75% attendance standard met; however, only one director attended the annual meeting in both 2023 and 2024, a potential engagement concern .
- Shareholder sentiment: 2025 Say‑on‑Pay received overwhelming support (For: 4,513,433; Against: 5,159; Abstentions: 1,842,285; Broker non‑votes: 548,144), indicating investor confidence in compensation oversight .
-
Compensation committee process
- The CNG Committee did not retain an external compensation consultant in 2024 or 2025; chair transitioned from Cecilia Edström to Peter Kruk on April 10, 2025, reflecting Board refresh dynamics .
-
Related-party and conflicts
- No related party transactions since January 1, 2023 (2024 proxy) / January 1, 2022 (2023 proxy); independent directors assessed under committee charters and Nasdaq rules .
-
Red flags
- Low director share ownership for Mr. Löfgren (<1%) may be viewed as limited economic alignment .
- Limited annual meeting attendance (only one director present in 2023 and 2024) may indicate lower shareholder-facing engagement .
Say‑on‑Pay & Shareholder Feedback (Context)
| Item | 2025 Vote Result |
|---|---|
| Advisory vote on NEO compensation – For | 4,513,433 |
| Advisory vote – Against | 5,159 |
| Advisory vote – Abstain | 1,842,285 |
| Broker non‑votes | 548,144 |
Notes on Committee Assignments and Attendance
- Audit Committee: Per Löfgren (Chair) in 2024 and 2025; committee met 5 times in 2023 and 8 times in 2024 .
- Board meetings: 14 in 2023; 9 in 2024; all directors ≥75% attendance; annual meeting attendance low (one director in each year) .
Additional Policies
- Insider Trading Policy: Company policy governs securities transactions; hedging prohibited for directors .
- Clawback Policy: Adopted consistent with SEC/Nasdaq listing standards for executive incentive-based compensation restatements .