It is mandatory for a public limited company to appoint a managing director (verkställande direktör). For a private limited company this is optional.
Managing director being the chairperson of the board
The managing director can be a board member. In a private limited company the managing director can also be the chairperson of the board, whereas in a public limited company he or she cannot.
Requirements on managing directors
A managing director must be over 18 years of age. He or she must not be declared bankrupt, be prohibited to carry on business or have a guardian.
A managing director must reside within the European economic area (EEA). You can apply for exemption from this rule, see the page Apply for exemption from residency requirements.
A managing director has extensive responsibility for the company. He or she can be held personally liable for debts, for example if the company’s taxes have not been duly paid.