Brødrene A & O Johansen A/S’s Audit Committee was set up on 12 December 2008:
Purpose:
The purpose of the Audit Committee's work is to make an independent assessment of whether the Company's financial reporting, internal control, risk management and statutory audit are appropriate in relation to the Company's and the Group's size and complexity.
Tasks of the Audit Committee:
The Audit Committee have the following tasks:
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to monitor and report on the financial reporting process,
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to monitor the efficiency of the Company's internal control, internal audit, if any, and risk management systems,
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to monitor the statutory audit of the financial statements,
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to monitor and review the independence of the auditor, including reviewing and approving the nature and extent of the external auditor's non-audit services,
- to recommend the appointment of auditors,
- to perfom other tasks delegated on a regular basis by the Board of Directors.
Meetings:
The Audit Committee consist of three members who are appointed from and among the Board of Directors.
The Audit Committee hold meeetings 4-5 times a year.
Members:
Henning Baunbæk Dyremose, Chairman
- Manager of Henning Dyremose ApS; HD Invest, Virum ApS; HCE Invest, Virum ApS; CD Invest, Virum ApS and Elly Dyremose ApS.
- Born 1945.
- Nationality: Danish.
- Chairman of the Board of Directors of Brødrene A & O Johansen A/S since 2007.
- Member of the Board since 1997.
- Chairman of the Audit Committee since 2008.
- Elected by the ordinary shareholders.
- As Henning Dyremose has been a member of the Board for more than 12 years, he cannot, according to the ‘Danish Recommendations of Corporate Governance’, be characterised as being independent of special interests.
Qualifications
- Broad leadership experience in business, finance and politics.
- Experience as managing director of a wholesale company with the same customers as Brødrene A & O Johansen A/S.
- Former Minister of Finance.
Michael Kjær, Deputy Chairman
- Managing Director of Invest Group A/S.
- Born 1956.
- Nationality: Danish.
- Deputy Chairman of the Board of Directors of Brødrene A & O Johansen A/S since 2007.
- Member of the Board since 2002.
- Member of the Audit Committee since 2008.
- Elected by the ordinary shareholders.
- As Michael Kjær has been a member of the Board for more than 12 year, he cannot, according to the 'Danish Recommondations of Corporate Governance', be considered as being independent of special interests.
Qualifications
- Management (CEO) of major retail chain.
- Expertise in strategy, sales, marketing and accounting.
- Experience with business organisations and employers’ associations.
Preben Damgaard Nielsen
- Managing Director of Damgaard Company A/S, Damgaard Group A/S, Damgaard Group Holding A/S, Ejendomsselskabet Oktanten ApS, The Closet ApS, Katrine Damgaard Invest ApS, Olivia Damgaard Invest ApS, Markus Damgaard Invest ApS, Damgaard Family Invest ApS, Damgaard Family Invest II ApS, Damgaard Family Invest III ApS, Galleri Bo Bjerggaard International ApS, PD International ApS, Ejendomsselskabet Tesch Alle ApS, DGH I ApS and DGH II ApS.
- Born 1963.
- Nationality: Danish.
- Member of the Board of Directors of Brødrene A & O Johansen A/S since 2007.
- Member of the Audit Committee since 2008.
- Elected by the preference shareholders.
- Considered to be independent of special interests.
Qualifications
- Broad leadership experience.
- Long-time experience as CEO.
- Long-time experience as board member.
- Worked as CEO of a listed company from 1999 to 2003.
- In-depth knowledge of accounting and IT systems.
- In-depth knowledge and experience of business acquisitions and disposals.
Erik Holm
- Managing Partner, Managing Director of Maj Invest Equity A/S, Manager of Maj Invest Holding A/S, Manager of Fondsmæglerselskabet Maj Invest A/S, Manager of Erik Holm Holding ApS and Manager of MIE5 Holding 4 ApS.
- Born 1960.
- Nationality: Danish.
- Member of the Board of Directors of Brødrene A & O Johansen A/S since 2009.
- Member of the Audit Committee since 2017.
- Elected by the ordinary shareholders.
- Considered to be independent of special interests.
Qualifications
- Experience as managing director of a wholesale company with the same customers as Brødrene A & O Johansen A/S.
- Broad leadership experience in sales, finance and logistics, both in Denmark and internationally.
- Experience of Board work in other listed companies.