The guiding principle in composing the Board is that it should comprise individuals whose particular knowledge and experience enables the Board as a whole to attend to the interests of shareholders, employees and other stakeholders.The Board has 11 members, seven of whom are elected by shareholders at general meetings, and four are Novo Nordisk employees from Denmark, elected by Danish employees.Shareholder-elected board members are elected by the shareholders at the general meetings.
The company has a two-tier management structure consisting of the Board of Directors and Executive Management.
The Board of Directors supervises the performance of the company, its management and organisation on behalf of the shareholders.
It also participates in determining the company strategy.
Executive Management, in turn, has responsibility for the company's daily operations.
Shareholder-elected board members serve a one-year term and can be re-elected at the general meeting.
Board members must retire at the first general meeting after reaching the age of 70.At the Annual General Meeting in March 2016 five out of six shareholder-elected board members were re-elected.The two bodies are separate, and no person serves as a member of both.On behalf of the shareholders, the Board determines the company’s overall strategy and actively contributes to developing the company as a focused, sustainable, global pharmaceutical company.The Board supervises Executive Management in its decisions and operations.The Board may also issue new shares or buy back shares in accordance with authorisations granted by the general meeting and recorded in the meeting minutes.