The nomination committee consists of up to five members elected by the Board of Directors from among its members. One member is designated as chair and one member is an employee representative.
The Board of Directors has in March 2020 elected the following members to the Nomination Committee:
The Nomination Committee assists the Board of Directors with oversight of a) the competence profile and composition of the Board of Directors, b) nomination of members of the Board of Directors, c) nomination of members of the Board committees, d) the Corporate Governance of the company and e) other tasks on an ad hoc basis as specifically decided by the Board of Directors.
The Nomination Committee consists of two members who are independent as defined in the Danish Corporate Governance Recommendations, including the chair, and two members who are non-independent. One member is an employee representative.
According to the Danish Corporate Governance Recommendations a
majority of the members of a board committee should qualify as
independent. Hence, the composition of the Nomination Committee does
not conform to the Danish Corporate Governance Recommendations. This
is due to the fact that the Board of Directors finds that the
composition of the Nomination Committee allows for a representative of
the main shareholder, who qualifies as a non-independent Board member,
as well as an employee representative, who also qualifies as a
non-independent Board member, being on the Nomination Committee while
maintaining an operational structure of the Nomination Committee with
relative few members.
The Nomination Committee conducted three meetings in 2019. All Nomination Committee members attended all committee meetings within the member’s term in 2019. Please refer to the Annual Report 2019 on p. 39 for a detailed attendance overview.
The Nomination Committee works according to an Annual Work Plan with fixed agenda items. In addition, the Nomination Committee conducts a search process for potential candidates for the Board. In 2019 the Nomination Committee met three times and dealt with the following matters: