The basis for the Foundation’s ownership of Novo Nordisk A/S and Novozymes A/S (Novonesis) is that the two companies are governed by independent and qualified boards of directors, thus ensuring an arm’s length relationship between the Foundation and the two companies.
As shareholder with a majority of the votes in both companies, the Foundation is particularly mindful of observing and respecting the rights of other shareholders.
As a permanent owner of Novo Nordisk A/S and Novozymes A/S (Novonesis), the Foundation has formulated several long-term objectives concerning its ownership. The objectives reflect that Novo Nordisk A/S and Novozymes A/S (Novonesis) must be global leaders in their respective fields with distinct commercial and research activities. Thus, through its ownership the Foundation seeks, among other things, to support the companies in:
- realising a shared vision to contribute positively to the lives of people and the sustainability of society;
- providing engaging and inspiring working environments;
- generating competitive long-term financial results; and
- living up to the Novo Charter.
The Foundation emphasises being a responsible, relevant and capable owner, thereby helping to secure the financial capacity of the companies and supporting societal developments that will benefit Novo Nordisk A/S and Novozymes A/S (Novonesis) as well as the rest of society. This has concrete implications for the Foundation, for instance in relation to our capital reserves and policies.
Several times a year, the Foundation’s chairmanship holds meetings with the chairs of Novo Nordisk A/S and Novozymes A/S (Novonesis), respectively. In addition to this, its executive management meets with the managements of Novo Nordisk A/S and Novozymes A/S (Novonesis).
Through its ownership, the Foundation supports Novo Nordisk A/S and Novozymes A/S (Novonesis) in appointing chairs who are independent of the Foundation and in having a majority of independent members on their boards. Following the annual general meeting, the boards of Novo Nordisk A/S and Novozymes A/S (Novonesis) appoint the chairmanships from their own groups of candidates.
The Foundation nominates two members for each of the boards in Novo Nordisk A/S and Novozymes A/S (Novonesis). One of the appointees selected by the Foundation can be nominated as vice chair. In addition, the Foundation works towards having representation on the boards’ nomination and remuneration committees. The Board of the Foundation refers to the principles for remuneration of board members and executive managements in Novo Nordisk A/S and Novozymes A/S (Novonesis).
31 January 2024
