In laying down the management principles for Novozymes, the Board of Directors has followed the Corporate Governance Recommendations that form part of the disclosure requirements applicable to companies listed on NASDAQ OMX Copenhagen A/S.
The Board of Directors considers that Novozymes complies with the recommendations, with three exceptions:
A detailed review of Novozymes’ positions on the individual recommendations can be found under Corporate Governance/The Nørby Report at www.novozymes.com.
Novozymes also acts within the parameters of the Charter for companies in the Novo Group, which Novozymes has adopted and reformulated in The Novozymes Touch. This lays down our values, commitments, and fundamentals. Within this framework, we have also committed ourselves to principles derived from other international charters and standards as listed below:
In 2009, the election of employee representatives to the Board of Directors took place. As a result of this, Michael Munksø has replaced Arne Juul Hansen as one of the three employee representatives. Arne Juul Hansen did not run for election. The employee representatives are elected for a period of four years.