Novo Nordisk prepares an annual Corporate Governance Report that,
among other, describes Novo Nordisk’s compliance with and explanations
to the applicable corporate governance codes designated by Nasdaq
Copenhagen and the New York Stock Exchange. The statutory Corporate
Governance Report is prepared in accordance with Section 107 b of the
Danish Financial Statements Act (in Danish: "Redegørelse for
virksomhedsledelse, jf. årsregnskabslovens § 107 b").
Novo Nordisk’s Corporate Governance Reports can be found below:
Novo Nordisk adheres to all Danish Corporate Governance Recommendations (2017) designated by Nasdaq Copenhagen except the five recommendations outlined below, where Novo Nordisk instead explains its approach:
A detailed review of Novo Nordisk's compliance with and explanations to all applicable Danish Corporate Governance Recommendations can be found below:
Novo Nordisk will report on the new Danish Corporate Governance Recommendations (2020) in 2022 in connection with the Annual Report for 2021.
Novo Nordisk’s B-shares are listed on the New York Stock Exchange (NYSE) as American Depository Receipts (ADRs). As a foreign private issuer, Novo Nordisk is required to comply with the US securities law, including the Sarbanes–Oxley Act and the NYSE Corporate Governance Standards except that these standards allow Novo Nordisk to continue to apply Danish corporate governance practices with few exceptions. Foreign private issuers following the practice in their home countries are, however, required to describe significant differences between NYSE’s and the foreign companies’ corporate governance standards.
A description of the significant differences between Novo Nordisk's corporate governance standards and those imposed by the NYSE on US companies can be found below: