Demant is subject to the Danish Recommendations on Corporate Governance laid down by the Danish Committee on Corporate Governance in respect to the way in which we adhere to the recommendations. The recommendations are also part of the disclosure requirements laid down by Nasdaq Copenhagen.
In order to balance our many stakeholders' interests, we have established a set of processes and relations by which we control and direct our company. Demant’s Board of Directors and Management consider corporate governance on an ongoing basis and regularly assess whether amendments to the Company’s Articles of Association or managerial processes are required.
When reporting on corporate governance, we follow the “comply or explain” principle, which means that a deviation to a recommendation does not constitute a breach as long as we provide an explanation as to why we have chosen to deviate from a given recommendation. Out of the 47 recommendations we deviate from four. The deviations are all well-founded and explained in the report, which can be found in the link below. To further increase transparency we have decided to provide supplementary and relevant information, even when we follow the recommendations.
A complete schematic presentation of the recommendations and our compliance, Corporate Governance 2019 – Statutory report on corporate governance, cf. section 107 b of the Danish Financial Statements Act is available here.