Governance model

The Novo Nordisk Way is the values-based governance framework for the company and is an integrated part of the company’s corporate governance. Thus, our corporate governance framework takes into consideration codes and regulations and the Novo Nordisk Way.

Codes and regulations

As an international company listed on NASDAQ Copenhagen and the New York Stock Exchange, Novo Nordisk is in compliance with Danish and - as a foreign listed private issuer - US securities laws including the US Sarbanes-Oxley Act.

Further Novo Nordisk is in compliance with the majority (44 out of 47) of the Danish Corporate Governance Recommendations (2013). Also, Novo Nordisk is - as a foreign listed private issuer - in compliance with corporate governance standards on New York Stock Exchange (2013).

It is Novo Nordisk's intent to seek compliance and adapt its procedures to align with current applicable codes to the extent possible and desirable. See a detailed review of Novo Nordisk's compliance with and deviations from codes on corporate governance designated by NASDAQ Copenhagen and the New York Stock Exchange.

Novo Nordisk Way

Novo Nordisk strives to conduct its activities in a financially, environmentally and socially responsible way. This statement expresses the Triple Bottom Line principle which is a lens for decision-making that supports long-term success by creating shared value for society and investors. It is anchored in the company’s Articles of Association and in the Novo Nordisk Way.

The Novo Nordisk Way is the values-based management system. It makes it clear to employees what the company’s ambitions are, how it will achieve them and what the organisation values are. It is supported by specific policies in areas relevant across the organisation.

Accountability to shareholders

Novo Nordisk holds itself accountable to shareholders and other stakeholders for its performance. The accuracy, completeness and reliability of the information provided in the company's reporting are verified through internal controls, assurance and independent audits.

Reporting is a tool for shareholders to assess the actions of the Board of Directors, and shareholders can, at general meetings, query them. Integrity and values are the spine of Novo Nordisk's corporate culture and must never be compromised. These are essential elements of the control environment, affecting the design, administration, and monitoring of other internal control components.

This is the message conveyed to employees, as laid down by the Novo Nordisk Way.