With good corporate governance we want to ensure transparency and accountability
Our aim regarding good corporate governance is to ensure transparency and accountability and that we meet our obligations to shareholders, partners, employees, authorities and other key stakeholders to the best of our ability in order to maximize long-term value creation.
We have a two-tier management structure consisting of a Board of Directors and an Executive Management. Powers are distributed between the Board of Directors and the Executive Management. The two bodies are separate, and only the CEO serves as a member of both. All Board members are elected at the Annual General Meeting, serve a one-year term, and are eligible for re-election. The Executive Management is appointed by the Board. The Executive Management handles day-to-day management, while the Board supervises the work of the Executive Management and is responsible for the general strategic direction.
Board of Directors
The Board of Directors currently consists of five members. Currently, two of the five Board members are non-Danes. Our Board of Directors holds both ordinary and extraordinary meetings during the year.
The Board of Directors performs its duties in accordance with its rules of procedure, which include rules on the allocation of powers and duties between the Board of Directors and the Executive Management and rules on the keeping of minute books. Before each ordinary meeting, the Board of Directors receives a report from the Executive Management on the status of the business which may be of interest to the Board of Directors, including a status report on drug discovery and development projects, business development activities, budget and financial information, a risk assessment, and the organization.
Other duties include establishing policies and making decisions on, e.g., strategy plan, business plan, R&D plan, budgets, material collaboration agreements, incentive plans, treasury policy, annual report, and the appointment of executive officers.