vestjyskBANK´s Supervisory Board consists of nine members, of which three are elected by the Bank´s employees. Our Executive Board consists of Michael Nelander Petersen, Acting CEO.
Vagn Thorsager (Chairman)
Lars Holst (Vice-Chairman)
Elected by the employees
The principles for vestjyskBANK’s management are based on the Recommendations on Corporate Governance issued by the Committee on Corporate Governance in Denmark (Komitéen for god Selskabsledelse) and are therefore in line with the principles that NASDAQ OMX Copenhagen A/S has decided listed companies must address. The principles on corporate governance are furthermore based on the Recommendations for Members of the Danish Bankers Association (Anbefalinger for Finansrådets medlemmer).
vestjyskBANK has decided to publish its statutory report on corporate governance at the Bank’s website. The report provides details for the Bank’s status for each of the recommendations for corporate governance.
vestjyskBANK’s Supervisory Board has established three committees - Remuneration, Nomination and Audit - for the purposes of improving the efficiency and quality of the Board’s work. The committees contribute to drafting the materials on which decisions made by the Supervisory Board 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.
The mandates of the committees are set out below. The following items list the activities of the committees in 2013:
All members of the various committees are also members of the Bank’s Supervisory Board and meet the independence requirement as defined by the Committee on Corporate Governance in Denmark.