The Board of Directors and the Executive Management are responsible for managing the company’s affairs.
The Board of Directors consists of six to eight members elected by the shareholders at the general meeting and such additional number of members as are elected by the employees under the Danish Companies Act.
The chairman and deputy chairman of the Board of Directors are also elected by the shareholders at the general meeting.
The Board of Directors conducted its latest annual board evaluation in November 2020. The basis for the evaluation was a questionnaire that the individual members of the Board of Directors and Executive Committee had been asked to complete, and individual interviews conducted by an external advisor. At the evaluation, all members of the Board of Directors and the Executive Board expressed that the board is strong, aligned, well-functioning, and possesses the right competencies to govern the company. Moreover, all members found board discussions inclusive and open to the viewpoints of all members. As the company expands to new markets and technologies, there are some development areas that need to be further explored and evaluated, e.g. ensuring that the Board of Directors has the right competency coverage in the long-term and prioritizing succession as a more important part of the board agenda.
