The representatives of two major Swedish funds resigned from Scania's nomination committee on Friday, citing a disagreement with the truck maker's main owner, Volkswagen.
The two fund groups, Swedbank Robur and Alecta, are Scania's fourth and fifth largest owners, with a 0.9 and 0.7 percent voting stakes, respectively.
Alecta representative Ramsay Brufer told Reuters he and Swedbank's KG Lindvall were not happy with the Scania board proposed by VW and MAN, nor with the way the nominations had been handled.
"The main owners have not been prepared to consider views which we as minority owners believe to be of advantage for the company and for all 120,000 shareholders," the two representatives said in a statement.
They said they would resign from the committee because there was "no basis to agree on a unanimous proposal" with the representatives from Volkswagen and MAN.
Volkswagen, Scania's largest owner, has a voting stake of around 71 percent, and MAN -- in which VW holds just under 30 percent -- a 17.4 percent stake in the Sweden-based truck maker.
"The only thing we can say is that we strictly (adhere) to the rules of the corporate governance codex, which applies to Sweden as well," said Volkswagen spokesman Michael Brendel.
