Governance

Good corporate governance is essential to Svitzer. Today, our corporate governance structure promotes the objectives of:

  • Early identifying opportunities, challenges, and risks
  • Efficient processes for informed decision-making
  • Continuous learning
  • Proactive planning and agile execution
  • Sound controls, checks and balances, and compliance
  • Clear allocation of authorities and responsibilities
  • Safe operations
  • A strong, sustainable approach to ESG. 

Core values

At Svitzer, we are guided by five core values engrained in our way of doing business. These values have remained guiding principles for leaders and employees across our company for almost half a century. Click here to familiarize yourself with our core values.

In the sections below, detailed information about our governance structure, key policies, and reports is provided. If you have any questions, please contact Investor Relations by clicking here

Our corporate governance structure

Svitzer has a two-tier management structure which includes our Board of Directors and the Executive Management. The two bodies are separate and have no overlapping members.

The Board of Directors is responsible for the overall management, strategic direction, and the supervision of Executive Management, who carries out the day-to-day management of Svitzer together with our wider Executive Leadership Team.

For more information about the members of Svitzer’s Board of Directors, the Executive Management, and the board committees, please click here

Click here to view our corporate governance structure in more detail.

Corporate governance principles and recommendations

The Board of Directors reviews Svitzer’s corporate governance in relation to the ‘Recommendations on Corporate Governance’ issued by the Danish Committee on Corporate Governance in December 2020 and implemented by Nasdaq Copenhagen A/S and as set out in section 107b of the Danish Financial Statements Act.

In this connection, the Board of Directors has prepared a statement on corporate governance, which includes information about Svitzer’s corporate governance practices and compliance with the ‘Recommendations on Corporate Governance’:

Articles of Association

Click below to download our Articles of Association:

Policies

Below, please find a range of key Svitzer policies available for download:

About our board committees

The Board of Directors has established the following committees:

Audit and Risk Committee

The Audit and Risk Committee consists of Christine Brennet (Morris) as Chair and Morten H. Engelstoft and Peter Wikström as members.

The Audit and Risk Committee shall review accounting and audit matters as well as significant accounting estimates and judgments and changes made hereto and assess the internal controls and risk procedures of the Group. The Audit and Risk Committee is furthermore tasked with supervising Svitzer Group’s financial and sustainability reporting and reporting process as well as the external audit, including the independence of the external audit and provision on non-audit services. In addition hereto, the Audit and Risk Committee shall assist with reviewing material related party transactions, the Svitzer Group’s tax policy, treasury policy, finance policy and data ethics policy and oversee framework relating to financing arrangements. Further, the Audit and Risk Committee shall oversee the Group’s whistleblower system.

Remuneration Committee

The Remuneration Committee consists of Morten H. Engelstoft as Chair and Robert M. Uggla as member.

The Remuneration Committee shall assist the Board of Directors with matters related to the framework and overall principles for the remuneration of the Board of Directors and Executive Management, including preparing and reviewing the remuneration policy applicable for the Board of Directors and the Executive Management of Svitzer Group in accordance with the Danish Companies Act as well as reviewing the remuneration report prepared in accordance with the Danish Companies Act. The Remuneration Committee shall evaluate and make recommendations for the remuneration of the members of the Board of Directors and the Executive Management, as well as be consulted on the framework and overall principles for the remuneration for the key employees and be informed of the overall incentive framework applicable for employees in general.

Nomination Committee

The Nomination Committee consists of Robert M. Uggla as Chair and Morten H. Engelstoft as member.

The Nomination Committee shall assist the Board of Directors with ensuring that appropriate plans and processes are in place for the recruitment and nomination of candidates to the Board of Directors, the Executive Management, and the board committees. The Nomination Committee shall evaluate the composition of the Executive Management and assist with the annual evaluation of the Board of Directors.

Board committee composition

Committee Composition Table
Audit and Risk Committee Nomination Committee Remuneration Committee
Christine Brennet iconChristine Brennet is Chairperson of the Audit and Risk Committee
Peter Wikström iconPeter Wikström is Member of the Audit and Risk Committee
Morten H. Engelstoft iconMorten H. Engelstoft is Member of the Audit and Risk Committee iconMorten H. Engelstoft is Member of the Nomination Committee iconMorten H. Engelstoft is Chairperson of the Remuneration Committee
Robert M. Uggla iconRobert M. Uggla is Chairperson of the Nomination Committee iconRobert M. Uggla is Member of the Remuneration Committee
Legend Chairperson icon Chairperson Member icon Member