The company has a two-tier management structure consisting of the Board of Directors and Executive Management.
The Board of Directors supervises the performance of the company, its management and organisation on behalf of the shareholders. It also participates in determining the company strategy.
Executive Management, in turn, has responsibility for the company's daily operations.
The two bodies are separate, and no person serves as a member of both.
Executive Management is responsible for the day-to-day management of the company. It consists of the President and chief executive officer (CEO) and eight executives. Executive Management’s responsibilities include overall conduct of the business and all operational matters, organisation of the company as well as allocation of resources, determination and implementation of strategies and policies, direction-setting and ensuring timely reporting and provision of information to the Board and Novo Nordisk’s stakeholders. Executive Management is also responsible for oversight, implementation and audit of environmental, social and related policies.
Executive Management meets at least once a month and often more frequently.
The Board appoints members of Executive Management and determines its remuneration.
The Chairmanship reviews the performance of the executives. As part of the Organisational Audit process, the Chairmanship identifies successors to executives and presents the names of such candidates to the Board for approval.
The Executive Management has established a number of executive committees to assist or implement Executive Management's decisions. Such committees include the Research Portfolio Committee responsible for management of the research portfolio and the early device portfolio, the Product Development Committee responsible for management of the product development and device portfolios and the Disclosure Committee overseeing Novo Nordisk’s disclosures to the capital markets.