The Board of Directors has formed a Nomination & Remuneration Committee.
Thomas Thune Andersen (Chair), Lene Skole, and Julia King are the members of the Nomination & Remuneration Committee.
The committee assists the Board of Directors in matters regarding the composition, remuneration, and performance of the Board of Directors and the Group Executive Team.
In 2022, the committee reviewed the remuneration policy for the Board of Directors and the Executive Board and proposed certain updates to the policy, which were approved at our annual general meeting in April 2022. The updates of the remuneration policy include an amendment of the short-term incentive scheme (STI) for the Executive Board by increasing the weight of shared KPIs, including an explicit link to our sustainability ambitions, an extension of the shareholding build-up period in respect of our share-based long-term incentive scheme from three to five years, and a board authorisation to temporarily deviate from the remuneration policy by offering a compensation to new external executives for any former incentive-based remuneration forfeited upon joining Ørsted.
The committee also discussed the appointments of Daniel Lerup as new CFO, of CHRO Henriette Fenger Ellekrog as new member of the Executive Board, and of a new ‘Group Executive Team’ replacing the previous ‘Executive Committee’.
Six meetings have been held in the committee in 2022.
You can download the terms of reference of the Nomination & Remuneration Committee via the link above.