Corporate governance in Solar

CORPORATE GOVERNANCE
Solar considers that The Committee on Corporate Governance in Denmark’s 2017 recommendations are, in general, a valuable tool for exercising sound management, good transparency for shareholders and other stakeholders, and efficient risk management. Overall, Solar therefore complies with the recommendations wherever they are relevant to the company.

AUDIT
Based on the Audit Committee’s recommendation, the Board of Directors, having consulted the Executive Board, will elect an auditor. The Executive Board informs the Board of Directors if an agreement is made with the auditor for material non-auditing services. Moreover, the auditor reports on any non-accounting services in the letter of recommendation on an ongoing basis.

Audit Committee Charter           Remuneration Committee Charter

NOMINATION
The Board of Directors has decided to establish a forum for dialogue with our large shareholders concerning the future composition of the Board of Directors and, thus, has drawn up a charter determining the guidelines for this. Representatives from the two largest shareholders, the company’s majority shareholder, the Fund of 20th December, and the Chairman of the company’s Board of Directors, will form a committee, which is to make proposals to the Board of Directors of both reelection and new election of board members. The committee must perform a number of preparatory tasks in relation to ensuring that the Board of Directors at any time meets the guidelines determined by the Board of Directors. This committee is not a Board of Directors’ committee like the Audit Committee or the Remuneration Committee, and the Board of Directors’ tasks in relation to the composition of the Board of Directors have not changed with the establishment of this committee.

Nomination Committe Charter