Nomination Committee

The overarching objects of the Nomination Committee are to improve the efficiency and quality of the work performed by the Board of Directors, including to ensure that the Executive Board and Board of Directors at all times have the appropriate qualifications, knowledge and experience to perform their tasks.

The Nomination Committee is tasked with assessing which qualifications are required on the Board of Directors and Executive Board, as well as assessing the structure, size and composition of the Board of Directors, etc. In addition, the Nomination Committee’s tasks include making an annual evaluation of the work performed by the Executive Board and Board of Directors and nominating and recommending candidates for approval by the Board of Directors prior to the General Meeting.

The Nomination Committee meets as and when required, but at least once a year, and prepares proposals to be considered and decided by the Board of Directors.

Members: Peter Thorsen (Chairman) and Arne Gerlyng-Hansen.

According to the current terms of reference, the Nomination Committee should be composed of three members. In June 2018, one of the members of the Board of Directors resigned from the Board, and thereby also from the Nomination Committee. As a consequence, the Board of Directors is now composed of four members and following a decision made by the Board of Directors, the Nomination Committee will be composed of two members until a composition of the Committees takes place following the General Meeting in April 2019.

All members are independant, thus complying with the Recommendations of Corporate Governance.

For a more detailed description, please see the terms of reference of the Nomination Committee.