Denmark: updated Recommendations for Corporate Governance

Towards the end of last year, the Danish Committee on Corporate Governance made several changes to its Recommendations for Corporate Governance (2005) concerning board diversity. An updated copy of the Recommendations, in English, is available here. 

Section III (Transparency) and Section V (Composition of the Supervisory Board) have been revised. One change in Section III concerns the annual report. It continues to be recommended that the supervisory board should decide whether it is expedient for the company to publish non-financial information in circumstances where this is not required by law or relevant accounting standards. However, a new example of such disclosure is provided: "diversity, among other things in relation to gender and age, within the supervisory board, the executive board and the company in general". In Section V, it is now recommended that the diversity of the supervisory board is considered by the board when it evaluates its competence.