Board Committees

The members of the Remuneration Committee are Magdi Batato (Chair), Bob Kunze-Concewitz, Søren-Peter Fuchs Olesen and Henrik Poulsen. Magdi Batato, Bob Kunze-Concewitz and Henrik Poulsen qualify as being independent of the Company as defined in the Danish Corporate Governance Recommendations.

The Remuneration Committee is responsible for the Remuneration Policy (including the general guidelines for incentive programmes) for all members of the Supervisory Board and the Executive Board, for recommending proposals on changes to the Remuneration Policy, and for obtaining the approval of the Supervisory Board prior to seeking shareholders’ approval at the Annual General Meeting.

The Committee is responsible for making proposals to the Supervisory Board on the actual structure and content of the remuneration packages of the members of the Supervisory Board and the Executive Board, in accordance with the policy approved by the shareholders.

The Committee monitors and advises the Supervisory Board on any major changes to the policy on senior employee remuneration structures for the Group, including for the Executive Committee. The Remuneration Committee works according to Terms of Reference, which are reviewed and approved annually by the Supervisory Board.

The specific activities and key focus points of the Committee in a given year are further described in the remuneration report section of the relevant Annual Report.