Employee representation at the Board of Directors
In Denmark employees, employed in a public or private limited company, are entitled to elect representatives to the company’s Board of Directors if the company has employed an average of 35 employees in the preceding three years.
The employees have a right to elect representatives corresponding to half the number of the members of the Board of Directors elected by the shareholders at the general meeting. If the number of members of the Board of Directors elected by the shareholders is not an even number, the number of employee representatives will be rounded up.
At NeuroSearch the Board of Directors currently has 3 members elected by the shareholders.
In general, all employees at NeuroSearch A/S are eligible as employee representatives if they; (i) have been employed with the company for at least 12 consecutive months prior to the election; (ii) are not members of the Executive Management; and (iii) have their place of work within the EU/EEA.
As a main rule, employee-elected Board members are elected for four years and they can be re-elected.
Under Danish law employee-elected board members have the same rights, duties and responsibilities as the Board members elected by the shareholders.