The Committee recommends:
1. The overall tasks and responsibilities of the board
The Committee recommends that the board - at least once a year - discusses and establishes its most important tasks related to the overall strategic management as well as the financial and managerial supervision of the company and regularly evaluates Executive Management's work.
This is what Novozymes does:
Since the founding of Novozymes the board has complied with this recommendation and intends to continue doing so.
2. The tasks of the chairman
The Committee recommends that the company prepares a work and task description specifying the tasks, duties and responsibilities of the chairman, and of the deputy chairman, if any.
The Committee further recommends that the chairman ensures that the special knowledge and competence of each individual member of the supervisory board are used in the best possible manner in the board's work to the benefit of the company.
The Committee recommends that the company appoints a deputy chairman who must be able to act in the chairman's absence and also to act as an effective sounding board for the chairman.
This is what Novozymes does:
There is a description of the chairman's and vice-chairman's task and responsibilities on the company's home page.
The chairman of the board is aware of the individual board members' special kno wledge and qualifications and currently encourages the members to use these in connection with the board work.
3. Rules of procedure
The Committee recommends that the procedures always match the needs of the individual company and that all the members of the board review the procedures at least once a year for this purpose.
This is what Novozymes does:
Each year, the board reviews the rules of procedure to ensure that they are operational and up-to-date. This normally takes place on the board meeting just prior to the annual shareholders meeting.
4. Information from Executive Management to the board
The Committee recommends that the board establishes procedures for how Executive Management reports to the board, and for any other communication between the board and Executive Management with a view to ensuring that such information about the company's business as required by the board is regularly provided to the board.
This is what Novozymes does:
The guidelines for Executive Management establish how Executive Management should report to the board and how communication between the board and Executive Management should take place.