Corporate governance recommendations and practices
As an international company listed on the stock exchanges in Copenhagen and New York, Novo Nordisk is subject to the Danish Corporate Governance Recommendations designated by NASDAQ OMX Copenhagen, and - as a foreign listed private issuer – to the Corporate Governance Listing Standards on New York Stock Exchange as stated in the Listed Company Manual.
Revised Danish Corporate Governance Recommendations were introduced in August 2011. Novo Nordisk is following the majority of the recommendations. Novo Nordisk does not follow three of the recommendations: Nomination Committee, Remuneration Committee and maximum two years severance payment.
As a foreign listed private issuer Novo Nordisk is in compliance with the corporate governance standards of the New York Stock Exchange, where Novo Nordisk’s ADRs are listed.
For a detailed review of Novo Nordisk's compliance with and deviations from the applicable recommendations please see the following:
- Danish Corporate Governance Recommendations (2011) - NASDAQ OMX Copenhagen
- Corporate Governance Listing Standards (2009) - New York Stock Exchange
In accordance with art. 107b of the Danish Financial Statements Act Novo Nordisk has prepared a Statutory Corporate Governance Report (in Danish "Lovpligtig redegørelse for virksomhedsledelse, jf. årsregnskabslovens § 107 b"). The reports for 2009, 2010, 2011 and 2012 can be found below: