The General Meeting elects the Supervisory Board. The Supervisory Board has eight members elected by the General Meeting and four members elected by Carlsberg employees in accordance with the Danish Companies Act.
The members elected by the employees hold the same rights and obligations as the members elected by the General Meeting and are elected for a term of four years. The most recent employee elections took place in 2006 and the 2010 elections are scheduled for March 2010.
Thus the Supervisory Board has a total of 12 members. The Supervisory Board finds this number of members appropriate.
Five of the members elected by the General Meeting are affiliated to the Carlsberg Foundation, the Company’s principal shareholder, and have an academic background, while three members have a business background. This composition ensures appropriate diversity and breadth in the members’ approach to their duties, and the Supervisory Board believes that this helps to ensure due deliberation and well-considered decisions.
The members of the Supervisory Board are elected individually. At each Annual General Meeting the four longest-serving members elected by the shareholders step down but may be reelected. Members must step down at the first General Meeting after they reach the age of 70.
Prior to recommending candidates for election at the General Meeting, the Supervisory Board distributes a presentation of each candidate’s background, relevant competences and any managerial positions or positions of responsibility, and the Supervisory Board justifies its recommendations on the basis of the recruitment criteria it has laid down.
A description of the composition of the Supervisory Board and the individual members’ particular competences with respect to the work of the Supervisory Board is found on page 156. None of the members of the Supervisory Board are involved in the executive management of the Group.