To support the Board in its duties, the Board has established and appointed an Audit Committee, a Remuneration Committee, a Nomination Committee and a Business, Research and Development Committee. These committees will be charged with reviewing issues pertaining to their respective fields that are due to be considered at board meetings.
The Audit Committee is established with the purpose of assisting the Board of Directors with the monitoring of the financial reporting process, the statutory audit of the Company’s financial reports (including the process for presentation of accounts), control and risk management systems and the Company’s whistleblowing procedures and complaints. The Audit Committee shall also assess the external auditor’s independence and provision of services and the procedure for the election of the external auditor, and annually consider whether there is a need for an internal audit and if so, submit a recommendation to the Board of Directors in this respect including recommendations regarding the appointment, employment and dismissal of the chairman of any internal audit and the budget of the internal audit. The Audit Committee is expected to comply with the Danish Corporate Governance Recommendations Sections 3.4.2 and 3.4.3.
- Continuous monitoring of the company’s internal control and risk management systems and procedures.
Christian Vinding Thomsen
Chairman of the Audit Committee
Nomination and Remuneration Committee
The Nomination and Remuneration Committee has as its objective, to improve the quality of the work of the Board of Directors by contributing to the preparation of the basis for the Board’s decisions regarding nomination and appointments of new members of the Board of Directors and the Executive management.
The Nomination Committee is expected to comply with the Danish Corporate Governance Recommendations Sections 3.4.2 and 3.4.5.
The specific assignments of the Nomination and Remuneration Committee are:
The nomination and appointment of members of the Board of Directors and Executive Management, including general guidelines on incentive pay.
Ensure that the Board of Directors and the Executive Management always have the required qualifications and experience.
The conduct of regular evaluations of the Board of Directors’ and the Executive Management’s performance; and the drawing up, implementation and pursuit of the remuneration policy for members of the Board of Directors and the Executive Management.
Monitor the annual report’s remuneration information.
Chairman of the Nomination and Renumeration Committee
The Business, Research and Development Committee
The committee is established to assist the Board of Directors in monitoring and reviewing the company’s research, technologies, products, pipeline, clinical trials, supply chain management and business strategies.
The Committee has as its objective to improve the Board of Directors decision making according to make the optimal business-, research- and development decisions as well as a future strategy for the same areas, for the company.
The specific assignments of the Business, Research and Development Committee are:
Reviewing and assessing the Company’s research and development (“R&D”) programs to develop investment strategies with the Board and Executive Management.
Monitoring and overseeing the Company’s progress in achieving R&D goals and objectives, and making recommendations to the Supervisory Board on modifications to the Company’s R&D goals and objectives.
Performing strategic reviews of the Company’s key R&D programs as well as the scientific and R&D aspects of licensing, strategic partnerships, and acquisition or divestiture transactions.
Reviewing the company’s scientific publication and communications plan.
Reviewing and assessing the Company’s intellectual property portfolio and strategy.
Evaluating and challenging the effectiveness and competitiveness of the research and development endeavors of the Company.
Overseeing management’s exercise of its responsibility to assess and manage risks associated with the Company’s R&D programs and regulatory matters.
Identifying and reporting to the Supervisory Board on significant emerging science and technology issues and trends that may impact the Company.
Serving as a resource for management to consult on any such topics regarding scientific and regulatory matters as reasonably requested.
Chairman of the Business, Research and Development Committee
Executive Management Team
Thomas Kaas Selsø
Chief Executive Officer