Telia Company’s group-wide governance framework has been approved by the Board of Directors. It is designed to ensure that operational results correspond to decisions made, and is structured to encourage all employees to strive, within set boundaries, towards the same goals, with a common clear understanding of purpose, set of values, roles, responsibilities and authority to act.

Deciding what we shall achieve


In order to provide overall guidance to the employees, the Board of Directors has approved a Telia Company purpose statement. Further, the Board yearly adopts a strategy, setting more specific directions for the coming three-year period as well as yearly operational and financial targets.

Purpose: Bringing the world closer − on the customer’s terms

Our ambition is to take Telia Company to the next level, to become a New Generation Telco. To grow our business and to stay inspired in our daily work, we need to be truly relevant to our consumer and business customers. Our purpose that shows us how we will get there is therefore from the customer perspective.

Strategic priorities

Our strategic priorities are:

  • Value through superior network connectivity – secure the transition from voice to data through future proof network access to end customers
  • Customer loyalty through convergence – create a seamless experience across technologies, services and channels
  • Competitive operations – simplify operations and transform legacy to create agility and cost efficiency
  • Explore opportunities in adjacent areas close to the core in internet of things, e-healthcare, security and media

Operational and financial targets

Operational and financial targets are set for the group as a whole and for each region, country and business unit.

Setting the boundaries for how we act


The Board of Directors sets the boundaries on how the employees shall act. Key elements are Telia Company’s set of values, the code of reponsible business conduct, governance of the sustainability work, group policies, organizational structure and delegation of obligations and authority.

Set of values

Telia Company’s set of values – Dare, Care and Simplify – is the compass that leads us in how we act and behave in our daily work.

  • We dare to − innovate by sharing ideas, taking risk and continuously learn; lead by engaging with our customers and challenging ourselves; speak up by expressing opinions and concerns
  • We care for − our customers by providing solutions that are adapted to their needs; each other by being supportive, respectful and honest; our world by acting responsibly and in accordance with our ethical standards
  • We simplify − execution by taking actionable decisions and deliver with speed; teamwork by transparent communication, active collaboration and knowledge sharing; our operations by efficient processes and clear ownership

Code of Responible Business Conduct

Telia Company launched a new Code of Responsible Business Conduct in September 2016, replacing the previous code of ethics and conduct. The Code, issued by the Board of Directors, provides guidance on Telia Company’s framework of policies and instructions. It helps create a Telia Company way of doing business by defining a common ethical compass, setting clear standards and expectations on how to act and helps in recognizing that doing business with integrity is a shared responsibility. The 17 chapters of the Code reflect group policies and instructions and provide practical and instructional information with respect to its interpretation. The Code applies to all Telia Company employees, directors and board members. All contractors and consultants working as part of Telia Company’s operations must also follow the Code. The Code is available in 12 languages in a printed newspaper format document and on the intranet.

The Telia Company Code of Responsible Business is available at:
(Information on the Telia Company website does not form part of this Statement)

Sustainability governance

Sustainability in Telia Company covers how the company accounts for its long-term impact on society and the environment. The work is focused on ensuring ethical, responsible business practices and on creating shared value by aligning core business with solving societal challenges as laid out by the UN Sustainable Development Goals. The approach is guided by international guidelines and frameworks, such as the UN Universal Declaration of Human Rights, the UN Guiding Principles on Business and Human Rights, the UN Global Compact principles, the core conventions of the ILO (International Labour Organization) and the OECD Guidelines for Multinational Enterprises.

Group Executive Management and GREC are the decision-making forums, with oversight by the Board of Directors’ Sustainability and Ethics Committee. The Head of Sustainability Strategy and the Chief Ethics and Compliance Officer are responsible for coordination and development of the sustainability work.

Policy framework

The heads of group functions and departments secure that necessary group policies and instructions are issued within their respective area of responsibility.

Group policies are relatively short and mainly principle-based. Group instructions are normally more detailed and operational. All group policies and instructions are binding for all entities in which Telia Company has management responsibility.

Group policies are approved by the Board of Directors, at least on an annual basis, after a preparatory review by the relevant board committee. Group instructions are approved by the CEO or the head of the relevant group function or department, after being reviewed at a group GREC or GEM meeting. All valid policies and instructions on group level are published on a common governance documents database available to all employees. The database provides a complete audit trail of the entire document lifecycle.

In addition to the overall policy document Telia Company Code of Responsible Business Conduct, the Board has currently issued the group policies presented in the table above.

Certain group policies are public documents available at:
(Information on the Telia Company website does not form part of this Statement)

Group policies issued by the Board – area and purpose

Financial management

To set the rules for managing financial risks and for counterparty credit ratings

Financial accounting 
and reporting

To require that proper accounting and reporting standards are prepared, regularly updated and made available to consolidated entities and applied by the entities when reporting to the group


To provide a single point of reference and direction for procurement activities and a clear understanding of the procurement principles

Enterprise risk management

To define the enterprise risk management framework


To ensure pro-active management of environmental impacts throughout the full life cycle of delivering products and services

Electromagnetic fields (EMF)

To define the elements of the serious approach towards EMF-related health concerns


To ensure that security measures are characterized by appropriate security and risk awareness, prevention, preparedness, and the ability to respond to, and recover from, incidents and environmental changes

Customer privacy

To set high and consistent standards to respect and protect customer privacy


To ensure that all communication is accurate and provided in a professional and timely manner

Freedom of expression 
in telecommunications

To reduce human rights risks, and to ensure that customers feel confident that we will, whenever possible, support, respect and safeguard their freedom of expression when we receive requests or demands from governments regarding surveillance of communications

Anti-bribery and corruption

To set common standards regarding compliance with the zero tolerance policy towards any form of bribery and corruption, and compliance with local laws


To define employer expectations on the employees as well as what expectations employees should have on each other

Occupational health 
and safety

To make the health and safety culture part of all employees’ everyday working life and to achieve a safe and legally compliant workplace for employees, vendors and visitors


To set the strategic direction and clarify the approach on designing and implementing remuneration practices for employees at all levels


To ensure that all recruitments are based on respect for the individual, that demands stated in job profiles are based on our common values and that the selection processes are fair


To assist in providing pension benefits by clarifying the structure, design and management of pension plans


To set the principle of not engaging in any practices or conducting business activities that are in breach of relevant competition or antitrust legislation

Inside information and insider trading

To ensure correct handling of inside information and a high standard of ethical behaviour towards the capital markets


Telia Company’s largest businesses are mobile, broadband, TV and fixed-line operations in the Nordics and Baltics, and mobile operations in Eurasia.

The guiding principle for Telia Company’s organizational structure is to provide clarity, accountability and to support a customer-centric operating model. The operating model is country-based with strong commercial and technology functions on group level. Countries are grouped in three geographical regions.

Note that the organization structure changed as of January 1, 2017. For further information see

Region Sweden

The region comprises Telia Company’s mobile, broadband, TV and fixed-line operations in Sweden. The region Head reports to the CEO and is a member of Group Executive Management.

Region Europe

The region comprises Telia Company’s mobile, broadband, TV and fixed-line operations in Finland, Norway, Denmark, Lithuania, Latvia and Estonia (the operation in Spain was divested during 2016). The region Head reports to the CEO and is a member of Group Executive Management.

Region Eurasia

The region comprises Telia Company’s mobile operations in Kazakhstan, Azerbaijan, Uzbekistan, Georgia and Moldova (the operation in Nepal was divested and an agreement was signed to divest Tcell in Tajikistan during 2016). The region Head reports to a Steering Board, headed by the CEO (for additional information, see section “CEO and Group Executive Management”).

Group functions

The group functions assist the CEO in setting the framework for the activities of the countries and provide the countries with process development support and common platforms within the areas communication, corporate development (including M&A), finance (including procurement and real estate), human resources, legal affairs, group-wide commercial (including the international carrier operations) and technology (including IT) issues, CEO Office (also responsible for the holdings in MegaFon and Turkcell), Ethics and Compliance Office and Internal Audit.

Delegation of obligations and authority

The CEO has issued a Delegation of Obligations and Authority (the DOA), which defines the obligations imposed on the heads of regions and group functions, and within which limits they may make decisions. Within this framework, obligations and decision authorities are further delegated person-to-person via solid reporting lines based on the roles in the operational organization.

Follow-up of our performance


Performance follow-up is essential in order to be able to take corrective measures and plan for the future. Performance follow-up is applied on organizational units as well as on individuals.

Business reviews

The CEO sets goals for the operations based on the decisions of the Board of Directors. To ensure performance, managers have annual targets for their respective operation. The plan for each business is documented in annual operating plans and follow-up is conducted on a monthly basis, complemented with quarterly forecasts.

Business reviews are meetings held on a monthly basis and include financial and business reviews for the reporting period and forecast period as well as reviewing of risks and operations performance metrics on customer service levels, network quality, etc. The business reviews allow for frequent follow-up of operational key performance indicators (KPIs) on country and region level. The operational KPIs are a key part of the follow-up and consist of several measurements which give management a good overview of current state and progress over time. The Net Promoter Score (NPS®) framework is used to monitor and improve the customer experience that Telia Company provides. At the region review meetings, the CEO, CFO, Head of Corporate Control, Head of Investor Relations and selected members of Group Executive Management attend, in addition to the respective region management.

The Board of Directors receives reports on operational performance on a monthly basis, and at each ordinary Board meeting the group’s operational and financial performance is presented in detail by the CEO and the CFO, respectively (see also the Board’s annual work cycle as described in section “Board of Directors”).

Individual performance management - key components



The Board of Directors’ Remuneration Committee reviews the individual performance of Group Executive Management members on a yearly basis.


Risk and compliance reviews

GREC meetings on group, region and country level are the primary governing bodies for risk and compliance follow-up. For further information, see section “Governance, Risk, Ethics and Compliance (GREC) meetings.”

Individual performance management – YouFirst

Telia Company is developing a purpose and value based performance culture in order to outperform competition and reach challenging goals. Setting individual objectives linked to strategic business goals and providing frequent feedback are crucial activities for managers at all levels. Telia Company applies a group-wide model for individual performance management – YouFirst – where what you do and how you do it are equally important.

Telia Company’s performance management approach is a key component to drive the right objectives and behaviours towards becoming a New Generation Telco, where everyone’s performance matters and all activities support the strategic direction. The shift is from an annual event-driven process to a dynamic, ongoing set-up, integrated with the daily work through frequent dialogue meetings. These frequent “check ins” are held in an environment of recognition, coaching and feedback with self-leadership as a key component.

To ensure execution of strategy and cultural change, the individual objectives are connected to the strategic areas and to the key behaviours stated in Telia Company’s values – Dare, Care and Simplify. Total contribution is assessed and it is equally important that expectations are met regarding both objectives and behaviours. The assessment of the total contribution is integrated in all relevant processes such as development activities, salary review and variable pay.

The frequent coaching and feedback enable and reinforce a more dynamic and business oriented way of working with expectations and priorities to ensure focus on what matters most: to challenge and stretch performance and create accountability for key results.