committees

Committees

Members of the audit committee are elected by the Board of Directors from their midst. At least one of the committee members must be considered independent and have relevant financial experience as stipulated in the Danish Act on Approved Auditors and Audit Firms. The Board of Directors elects the committee's chair, who must be considered independent and must not be Chair of the Board of Directors of the company.

The audit committee holds its meetings in connection with the ordinary board meetings. Before each meeting, the members will receive a separate agenda with fixed items and any special reports pre-determined in a full-year wheel chart for the audit committee. The wheel chart includes accounting policies, significant accounting estimates, related party transactions as well as uncertainties and risks.

The members of the audit committee receive a basic fee of DKK 100,000, and the chair of the committee receives two times the basic fee.

In 2023, the committee held three meetings.

 

Terms of reference


Please read the committee's terms of reference below.

Terms of reference for Demant's audit committee


 

Members of the audit committee

Sisse Fjelsted Rasmussen, chair (independent), Niels Jacobsen (not independent) and Kristian Villumsen (independent).

The nomination committee is composed of the Chair and the Vice Chair of the company, the chair and the vice chair of the company’s major shareholder, William Demant Foundation, and the President & CEO of the company.

The Chair of the Board of Directors also chairs the committee.

There is no separate fee for members of the nomination committee.

In 2023, the committee held three meetings.

 

Terms of reference

Please read the committee's terms of reference below.


Terms of reference for Demant's nomination committee


Members of the nomination committee

Niels B. Christiansen, chair (not independent), Lars Nørby Johansen (not independent), Niels Jacobsen (not independent) and Søren Nielsen (not independent).


The remuneration committee is composed of the Chair and the Vice Chair of the company.

The Chair of the Board of Directors also chairs the committee.

There is no separate fee for members of the remuneration committee.

In 2023, the committee held four meetings.



Terms of reference


Please read the committee's terms of reference below.

Terms of reference for Demant's remuneration committee
 

 

Members of the remuneration committee

Niels B. Christiansen (not independent) and  Niels Jacobsen (not independent).

 

The IT security committee is composed of the Chair and the Vice Chair of the company and the chair of the audit committee.

The committee was established in November 2019 and its objective is to review the company’s IT security strategy and annually assess compliance with the strategy.

The Chair of the Board of Directors also chairs the committee. There is no separate fee for members of the IT security committee.

In 2023, the committee held three meetings.

 

Terms of reference

Please read the committee's terms of reference below.

Terms of reference for Demant's IT security committee

 

Members of the IT security committee

Niels B. Christiansen (not independent), Niels Jacobsen (not independent) and Sisse Fjelsted Rasmussen (independent).