Committee meetings 2018

The Board of Directors has set up four committees to supervise specific areas and prepare cases for consideration by the full Board. 

 See the the meeting frequency and meeting participation for each committee.

Audit Committee

Activities and meetings attended in 2018

The Audit Committee held 13 meetings in 2018 of which 7 were extraordinary meetings. In 2018, The Audit Committee have been operating as a preparatory committee for the Board of Directors with respect to accounting and auditing matters, including risk matters relating thereto. The Audit Committee have reviewed and submitted recommendations to the Board of Directors regarding financial reports and assessment of the related risks, key accounting principles and procedures, internal controls, reports from both internal and external audit, compliance, anti-money laundering and whistleblowing. In 2018, the Estonia case has mainly been prepared by the Audit Committee, but from March to June 2018 an ad hoc committee called the Estonia Committee prepared the case. The Estonia Committee held 9 meetings in 2018.

The Audit Committee held 13 meetings in 2018 of which 7 were extraordinary meetings. 
MembersMeetings attended in 2018
Jørn P. Jensen (chairman until 7 December 2018)12/13
Carol Sergeant2/2
Hilde Tonne2/2 (left the committee in March 2018)
Jens Due Olsen (chairman from 7 December 2018)10/10 (joined the committee in March 2018)
 Ingrid Bonde10/10 (joined the committee in April 2018)

Of the Audit Committee meetings held in 2018 at which the Estonia case was on the agenda, previous Audit Committee member Hilde Tonne and non-Audit Committee member Lars-Erik Brenøe participated in one meeting, and previous Audit Committee member Carol Sergeant and non-Audit Committee member Ole Andersen participated in all meetings.

Jens Due Olsen is designated as the qualified member of the Audit Committee pursuant to section 31(1) of the Danish Act on Approved Auditors and Audit Firms.

Nomination Committee

Activities and meetings attended in 2018

The Nomination Committee held 3 meetings in 2018. In 2018, The Nomination Committee have been operating as a preparatory committee for the Board of Directors with respect to the nomination and appointment of candidates to the Executive Leadership Team and to the Board of Directors and evaluation of the work and performance of the Executive Leadership Team, the Board of Directors and its individual members. The Nomination committee have also submitted proposals to the Board of Directors on policies for succession planning and diversity and inclusion.

The Nomination Committee held 3 meetings in 2018 
Members Meetings attended in 2018
Ole Andersen (chairman until 7 December 2018)3/3
Urban Bäckström1/3 (left the committee in March 2018 
Lars-Erik Brenøe (chairman from 7 December 2018)3/3
Carol Sergeant2/2 (joined the committee in March 2018)

Non-Nomination Committee member Ingrid Bonde assisted the Nomination Committee at its meetings and tasks in the fourth quarter of 2018.

Remuneration Committee

Activities and meetings attended in 2018

The Remuneration Committee held 2 meetings in 2018. In 2018, the Remuneration Committee have been operating as a preparatory committee for the Board of Directors with respect to matters concerning remuneration with a special focus on the remuneration of members of the Board of Directors, the Executive Leadership Team, material risk takers, key employees and executives in charge of control and internal audit functions, and on incentive programmes. The Remuneration committee have reviewed and submitted recommendations to the Board of Directors regarding remuneration policies and practices, developments in remuneration levels, including variable remuneration. The committee have monitored the incentive programmes to ensure that they promote ongoing, long-term shareholder value creation as well as compliance with the Remuneration Policy.

The  Remuneration Committee held 2 meetings in 2018 
MembersMeetings attended in 2018
Ole Andersen (chairman until 7 December 2018)2/2
Charlotte Hoffmann2/2
Rolv Erik Ryssdal2/2
Hilde Tonne2/2

Risk Committee

Activities and meetings attended in 2018

The Risk Committee held 8 meetings in 2018. In 2018, the Risk Committee have been operating as a preparatory committee for the Board of Directors with respect to Danske Bank’s risk management and related matters. The Risk Committee have advised the Board of Directors on Danske Bank’s risk profile, risk culture, risk appetite, risk strategy and risk management framework as a part hereof. The Risk Committee have reviewed and submitted recommendations to the Board of Directors regarding Danske Bank’s risk appetites, policies and instructions, its capital, leverage, liquidity, solvency and recovery requirements, its operational resilience framework (former business continuity plans), its impairment levels, its products and services from a risk perspective and the credit quality of Danske Bank’s loan portfolio. Furthermore, the Risk Committee have reviewed the use of internal models, the adequacy and sufficiency of staff resources of the risk management control function and incentive programmes from a risk perspective.

The Risk Committee held 8 meetings in 2018 
MemberMeetings attended in 2018
Carol Sergeant (chairman)8/8
Ole Andersen8/8
Martin Tivéus1/2 (left the committee in March 2018)
Ingrid Bonde6/6 (joined the committee in March 2018) 
Jens Due Olsen  6/6 (joined the committee in March 2018)

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