Corporate governance is largely built into the requirements on boards laid down in the Danish Companies Act. This also applies to the two-tier management system at Vestas Wind Systems A/S, where the Board of Directors and the Executive Management are responsible for managing the company’s affairs. Members of the Board and the Executive Management do not hold dual roles.
Responsibilities of the Board of Directors
The Board takes care of the general management of the company such as:
- Appointing the Executive Management
- Ensuring responsible organisation of the company’s business
- Defining the company’s strategy
- Assessing the adequacy of the company’s capital contingency programme
Responsibilities of the Executive Management
The Executive Management takes care of the day-to-day running of the company, observing the guidelines and recommendations laid down by the Board.
In recent years, there has been a high degree of international consensus on what characterises good corporate management. The international initiatives have created the basis for more detailed and precise codes adapted to national business and company management structures.
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Meet the Board of Directors of Vestas
Meet the Executive Management of Vestas