Board of Directors

The General Assembly elects the Board of Directors.
The Board of Directors has nine members, six members elected by the shareholders and three members elected by employees in accordance with the Danish Company Act.
The Board of Directors meets minimum four times a year with additional meetings when necessary. In addition, there are monthly meetings between the Chairmanship and the Executive Board.
In order to ensure the well-functioning of the Board, the Board of Directors elects among its members a chairman and a vice chairman and adopts rules of procedures defining the main responsibilities. The Chairman supervises the work of the Board and facilitates an annual performance evaluation of the work in the Board of Directors.
The Chairman proposes to the General Assembly the election of new board members with the relevant and required knowledge and professional experience enabling the company to address the challenges. All members of the Board of Directors are up for annual re-election at the General Assembly. There are no special provisions in the articles of association concerning the Board of Director's authority to approve distribution.