Nomination and Remuneration Committee

The Board of Directors has formed a Nomination and Remuneration Committee.

Thomas Thune Andersen (Chairman), Lene Skole and Lynda Armstrong are the members of the Nomination and Remuneration Committee.

The committee assists the Board of Directors in preparing and implementing the remuneration policy. Moreover, the committee assesses and prepares recommendations on Group Executive Management’s salary adjustments, bonuses, the application of retention schemes for key employees, the use of one-off payments and introduction of new compensatory elements.

In 2018, the committee discussed, among other matters, payment of retention bonuses granted in connection with the planned divestment of our Danish power distribution, residential customer and city light businesses as well as retention bonuses to individual business-critical employees in companies acquired during the year.

Additionally, the committee discussed a share-based retention tool which was introduced in 2018 and targeted at a limited number of employees responsible for critical long-term projects.

The committee also reviewed an update of the compensation model and governance for our top 100 employees.

Three meetings have been held in 2018 in the Nomination and Remuneration Committee.

You can download the terms of reference of the Nomination and Remuneration Committee via the link above.
 

Group Executive Management

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