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Remuneration of the executive personnel

The remuneration committee reviews and advises on proposals made by the Group CEO with regard to the remuneration payable to executive personnel, and presents it to the Board.

The remuneration payable to executive personnel is determined on the basis of competence, experience and achieved results. The performance-related remuneration to the executive personnel is subject to an absolute limit. The Board prepares guidelines concerning remuneration and presents these for the General Meeting in accordance with the PLCA and the Code.

The executive personnel, as well as other employees, have performance-related bonus programs. Further information is included in the notes to the annual accounts.