Every legal unit of Novozymes must follow the local rules regarding appointment of board of directors and officers and other company law issues. This means that the establishment and maintenance of the corporate entities should be done in careful cooperation with Legal Affairs and/or local counsel.
The boards of directors of affiliates in the Novozymes Group must include a representative of the line management, the local general manager and a representative of Legal Affairs or Finance Department. Local laws may require deviation from these requirements, e.g. majority of nationals. Generally, the boards should be kept at an operational level meaning as few members as necessary to safeguard the duties of a board of directors.
It is the duty of the boards of directors - with appropriate advice from internal and/or external counsel - to secure that the companies in the Novozymes Group adhere to all requirements stated or expected by the local authorities.