ANNUAL REPORT 2011 - DONG Energy

BoaRd of dIRectoRs 2011
52 56
CORPORATE GOVERNANCE
DONG Energy’s Board of Directors and Executive
Board continually strive to improve its corporate
governance. The Board of Directors and the Executive
Board endeavour to enhance transparency and
promote active ownership, partly by ensuring a
high information level and engaging in dialogue
with shareholders and other relevant stakeholders.
As a State-owned public limited company, DONG
Energy operates on terms very similar to those
applying to listed companies. The Group has
therefore elected to generally comply with the
recommendations of the Committee on Corporate
G overnance that apply to listed companies.
The recommendations can be viewed at
www.corporategovernance.dk.
In accordance with section 107(c) of the Danish
Financial Statements Act, DONG Energy’s Board of
Directors has prepared a statement on corporate
governance. The statement forms an integral part
of management’s review for the financial year 1
January – 31 December 2011, and is included in the
complete annual report on pages 52-55.
The statement includes a description of DONG
Energy’s management structure, information on
the company’s positions on ’Recommendations on
Corporate Governance’ and a description of the
principal elements of DONG Energy’s internal control
and risk management systems in connection
with the financial reporting.
28 of the Group’s companies are included in the
reporting process on internal control. Based on the
internal controls identified, these companies represent
86% of revenue and 66% of assets.
manaGEmEnt’s rEviEw – DONG ENERGY GROUP ANNUAL ANNUAL REPORT REPORT 2011 2011
fritZ H. sCHur
Chairman
b. 1951. Joined the board as Chairman in 2005,
re-elected 2011. Term of office expires in 2012.
Chairman of Remuneration Committee and Nomination
Committee.
Education: BSc (Business Administration), Copenhagen
Business School, 1973
Remuneration, Board: DKK 500,000
Remuneration, Committees: DKK 50,000
Career and posts
1973 Formation of FSC A/S (Fritz Schur Consumer
Products A/S)
1978- CEO, Chairman, Deputy Chairman or
member of companies in the Fritz Schur
Group
1988-1996 Reconstruction and winding up of companies
in distress, primarily for banks
Other management positions
Member of the Board of Directors and/or CEO of F. Schur &
Co. A/S, FSS MID ApS, Havnefrontens Selskabslager
909 ApS.
Member of the Board of Directors and CEO of Fritz Schur
A/S and CEO or Chairman of the Board of Directors of two
wholly-owned subsidiaries.
CEO of FS 1 ApS and Chairman of the Board of Directors of
a wholly-owned subsidiary.
CEO of FS 11 ApS and Chairman of the Boards of Directors
of two wholly-owned subsidiaries.
CEO of FS 12 ApS and Deputy Chairman of one directly
and one indirectly wholly-owned subsidiary.
Chairman: SAS AB (Sweden), PostNord AB, F. Uhrenholt
Holding A/S, Relationscore ApS and Chairman of the
Board of a wholly-owned subsidiary, C.P. Dyvig & Co. A/S
Deputy Chairman: Brd. Klee A/S
member: WEPA Industrieholding SE,
Experimentarium – Center for formidling af naturvidenskab
og moderne teknik (foundation)