William Demant Holding's Board of Directors and Executive Board consider corporate governance an ongoing process and regularly assess whether their findings give rise to amendments to the Company's articles of association or managerial processes.

The Board of Directors currently considers the Corporate Governance Recommendations, which are part of the disclosure requirements laid down by NASDAQ OMX Copenhagen. Drawn up by the Committee on Corporate Governance under the auspices of NASDAQ OMX Copenhagen, the recommendations were most recently updated in August 2011. The Board of Directors determines the extent to which the Company should implement such recommendations.

William Demant Holding complies with 74 out of 79 recommendations. The deviations from the five recommendations that we do not comply with are well-founded and accounted for. A complete schematic presentation of the recommendations and our compliance, Mandatory reporting on corporate governance in accordance with the Danish Financial Statements Act, section 107b, is available below.

Document	View
Corporate Governance 2011		140.4 KB
God selskabsledelse 2011		144.4 KB
Corporate Governance 2010		3.9 MB
God selskabsledelse 2010		3.8 MB
Policy and action plan for more female managers 2012		129.5 KB
Politik og handlingsplan for flere kvindelige ledere 2012		453.0 KB

William Demant Holding A/S  ·  Kongebakken 9  ·  DK-2765 Smørum  ·  Phone +45 3917 7100  ·  Fax +45 3927 7900  ·  william@demant.com  ·  CVR 71186911