The Danish newsletter for supervisory boards “Nyhedsbrev for Bestyrelser” has rated GN Store Nord as the best in corporate governance among 100 listed Danish companies.

SimCorp (develops and markets investment management systems globally) and GN both scored 95 points out of 100 in the rating, which is based on a detailed analysis of the companies and their corporate governance efforts. “Nyhedsbrev for Bestyrelser” underlines that an open ownership structure without A/B share classes or other ownership restrictions, highly professional supervisory boards with the relevant competencies, and transparency in terms of remuneration for the supervisory boards and executive managements characterize these two best-in-class companies.

GN Store Nord’s Chairman Per Wold-Olsen said: “We want to be recognized as a professional company at all levels of our organization, with openness, transparency and delivery being cornerstones of our operations and execution. In June 2008, when GN’s new Supervisory Board held its inaugural meeting, we said that professional corporate governance was a priority, and right away we established two new board committees: an audit committee and a remuneration committee. That was the first important step in GN’s effort to upgrade the company’s corporate governance. GN is committed to best practice within corporate governance wherever relevant and we want to be a professional organization at all levels.”

GN delivers as promised

In GN’s Annual Report 2008, Per Wold-Olsen committed himself and the Supervisory Board to work on upgrading the company's corporate governance.

“That’s what we’ve been doing, and I’m very pleased to see that our efforts are being recognized,” said Per Wold-Olsen, and he continued:

“Of course, it’s nice to be recognized for our efforts and to be ranked as number one. We can use the result as an indicator showing that we’re moving in the right direction. But we must stay focused on corporate governance and continue to develop within all areas of our business – it’s an ongoing process.”

Read the article from “Nyhedsbrev for Bestyrelser” here; the article is in Danish. (With permission from Ugebrev for Bestyrelser)

You can read more about GN Store Nord’s corporate governance by clicking this link.