Nomination & Remuneration Committee

The Nomination & Remuneration Committee is established in accordance with the Danish Corporate Governance Recommendations 3.4.4 and 4. Results of all meetings were reported to the Board.

 

Committee members:

 

All members possess the relevant qualifications and competencies needed to meet the requirements set forth in Danish law and Danish corporate governance recommendations.

 

The nomination main tasks, which have all been addressed and discussed during 2022, include:

  • Describing the required qualifications for a given member of the board of directors and the executive management, the estimated time required for performing the duties of this member of the board of directors and the competencies, knowledge and experience that is or should be represented in the two management bodies,
  • On an annual basis evaluating the board of directors and the executive management’s structure, size, composition and results and preparing recommendations for the board of directors for any changes,
  • In cooperation with the chairperson handling the annual evaluation of the board of directors and assessing the individual management members’ competencies, knowledge, experience and succession as well as reporting on it to the board of directors,
  • Handling the recruitment of new members to the board of directors and the executive management and nominating candidates for the board of directors’ approval,
  • Ensuring that a succession plan for the executive management is in place,
  • Supervising executive managements’ policy for the engagement of executive employees, and
  • Supervising the preparation of a diversity policy for the board of directors’ approval.

 

The remuneration main tasks, which have all been addressed and discussed during 2022, include:

  • Preparing a draft remuneration policy for the board of directors’ approval prior to the presentation at the general meeting,
  • Providing a proposal to the board of directors on the remuneration of the members of the executive management,
  • Providing a proposal to the board of directors on the remuneration of the board of directors prior to the presentation at the general meeting,
  • Ensuring that the management’s actual remuneration complies with the company’s remuneration policy and the evaluation of the individual member’s performance, and
  • Assisting in the preparation of the annual remuneration report for the board of directors’ approval prior to the presentation for the general meeting’s advisory vote.