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Danfoss

Corporate governance

Danfoss follows the Danish Recommendations on Corporate Governance

Responsibility, integrity, and openness are the key values that reflect how we want to run our business. Legislation provides the overall framework for the Group’s governance, and Corporate Governance determines how the business is managed within this framework.

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Remuneration of the Board of Directors and the CEO and CFO

The Board members are paid an annual remuneration which is fixed at the Annual General Meeting. In addition to this, some of the board members can receive remuneration for special duties; for example, as chairman of Board Committees. Remuneration paid is equivalent to levels received in similar-sized Danish companies. Remunerations are reviewed on an annual basis. For more information, download our remuneration guidelines.

The CEO and CFO have individual remuneration packages, which are reviewed annually in line with market practice for equally sized companies both nationally and internationally, and approved by the Chairman. The CEO and CFO are remunerated with a package consisting of three main elements: a gross annual salary, a short-term incentive scheme, and a long-term incentive scheme. Pension is included in the annual basic salary.

Download the articles of association and charter of the Audit Committee for Danfoss A/S.

Our statutory report on corporate governance

In accordance with the Danish Financial Statements Act, section 107b, Danfoss publishes its statutory report on corporate governance here on the website. Corporate governance reports are available in the archive below.