Organisation

Vestjysk Bank's Board of Directors consists of 13 members, of which 4 are elected by the Bank´s employees. The Executive Board consists of Jan Ulsø Madsen as CEO, Michael Nelander Petersen as managing director and Torben Sørensen as managing director.

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The Board of Directors and the Executive Board

Board of Directors Executive Board
Kim Duus (Chairman) Jan Ulsø Madsen, CEO
Niels Fessel (Vice-Chairman) Michael N. Petersen, managing director
Bent Simonsen Torben Sørensen, managing director

Bolette van Ingen Bro

 
Claus Jensen  
Hanne Træholt Odegaard  
Jan Nordstrøm  
Lars Holst  
Lars Langhoff  
Jacob Møllgaard, elected by the employees  
Mette Holmegaard Nielsen, elected by the employees  
Karsten Westergaard Hansen, elected by the employees  
Steen Louie, elected by the employees  

Additional information

Corporate Governance

Vestjysk Bank's principles on corporate governance are based on the Recommendations of the Committee on Corporate Governance and are thus in line with the principles, Nasdaq Copenhagen has decided listed companies must address. The Bank's principles on corporate governance are furthermore based on the Recommendations of the Danish Bankers’ Association Management Code.
 
 We have chosen to publish the Bank’s statutory report on corporate governance on this page to the right. The report outlines the Bank's status in relation to all recommendations put forward by the Committee on Corporate Governance and the Danish Bankers’ Association Management Code.

See also the statutory report on governance requirements.

Reports

Committees under the Board of Directors

In order to increase the efficiency and quality of work of the Board of Directors Vestjysk Bank´s Board of Directors established three committees during the period 2009 to 2010 - the Remuneration Committee, the Nomination Committee and the Audit Committee. During 2014 the Board of Directors also established a Risk Committee. The committees contribute to drafting the materials on which decisions made by the Board of Directors are based. The sole purpose of these committees is preparatory in nature, which means that material information needed by all Board members must be transmitted to such members. The Board retains full responsibility for all decisions, and the work performed by the committees may also not result in any omission or curtailment of business originally intended to be transacted by the Board.

Members of the various committees are also members of the Bank’s Board of Directors and meet the independence requirement as defined by the Committee on Corporate Governance in Denmark. However, the members elected by the employees are considered non-independent board members due to their current employment in the Bank.

Click here for an overview of the committees' composition (January 2021)

Click here for an overview of board member's participation in board and committee meetings during 2020

Briefs

Brief of Audit Committee

Brief of Nomination Committee

Brief of Remuneration Committee

Brief of Risk Committee

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