In the Board of Director’s opinion, FLSmidth fully complies with all recommendations on corporate governance applicable to Danish listed companies, except for one.

Board of DirectorsJanuary 2020

Management structure

According to general practice in Denmark, FLSmidth maintains a clear division of responsibility and separation between the Board of Directors and the Group Executive Management. Tasks and responsibilities are defined at an overall level via rules of procedure for the Board of Directors and

rules of procedure for the Group Executive Management. In addition, terms of reference apply to the Board committees.

The Group Executive Management is responsible for the day-to-day business of the company, and the Board of Directors oversees the Group Executive Management and handles overall managerial issues of a strategic nature. The Chairman is the Board of Directors’ primary liaison with the Group Executive Management. 

Learn more about how FLSmidth is managed

Click here to learn more about the FLSmidth & Co. A/S's board membership profiles, each of which reflects substantial managerial experience from internationally operating companies.

Click here to learn more about FLSmidth's Group Executive Management, which consist of experienced business people, each with a background and practical experience that matches the business' needs, challenges and practical issues. 

Compliance with the recommendations for corporate governance

Pursuant to Section 4.3 of the rules for issuers of shares listed on Nasdaq Copenhagen, Danish companies must provide a statement on how they address the recommendations

on Corporate Governance issued by the Committee on Corporate Governance in November 2017 based on the ‘comply or explain’ principle (

FLSmidth’s position on each specific recommendation is summarised in the corporate governance statement available at:

In the Board’s opinion, FLSmidth complies with all recommendations on corporate governance applicable to Danish listed companies, except 3.5.1 related to external assistance in connection with evaluation of the performance of the Board of Directors, where the company only complies partially.

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