The committees prepare decisions and recommendations for review and approval by the Board of Directors as well as supervise the implementation of the various principles and policies.
Audit Committee
The purpose of the Audit Committee is to assist the Board of Directors in fulfilling its oversight responsibility in relation to, as a minimum, monitoring the financial reporting process, NORDEN’s internal control systems, the statutory audit of annual report as well as monitoring and checking the auditor’s independence.
At least one member of the Committee is independent and has qualifications within accounting and auditing as required by the Auditors Act. The Board of Directors will each year evaluate and record the fulfilments of the requirements for the independent and qualified member/members of the Committee. The Audit Committee consists of Vibeke Bak Solok (Chair), Karsten Knudsen, Klaus Nyborg and Johanne Riegels Østergård (observer).
In 2023, the Committee held four meetings with a participation rate of 100%.
Charter of the Audit Committee
Risk Committee
The purpose of the Risk Committee is to assist the Board of Directors in its oversight of the Company’s overall risk-taking tolerance and management of market, credit and liquidity risks. The Risk Committee is tasked with discussing and evaluating the general risk culture of the Company.
The Risk Committee consists of Karsten Knudsen (Chair), Robert Hvide Macleod and Ian McIntosh.
In 2023, the Committee held four meetings with a participation rate of 100% for all members.
Remuneration Committee
The purpose of the Remuneration Committee is to supervise the implementation of the Company’s remuneration policy.
The Remuneration Committee consists of Klaus Nyborg (committee Chair), Karsten Knudsen, Robert Hvide Macleod and Ian McIntosh.
In 2023, the Committee held six meetings with a participation rate of 100% for all members.
Nomination Committee
The Nomination Committee is responsible for describing the qualifications required in i.a. the Board of Directors and the Executive Management, and the committee is also in charge of an annual assessment of the competences, knowledge and experience present in the 2 management bodies.
The Nomination Committee consists of Klaus Nyborg (committee chair) and Johanne Riegels Østergård.
In 2023, the Committee held five meetings with a participation rate of 100% for both members.
