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Board of Directors

Greentech has a two-tier executive management structure consisting of a Board of Directors and the Management. The Management of the Company is responsible for the day-to-day management of the Group. It reports to the Board of Directors, who is responsible for the overall management of Greentech.

The Board of Directors determines strategies, action plans, goals and budgets. In addition, the Board of Directors sets out the framework for financial and market risk management and controls the Management’s work and the Company’s procedures and responsibilities, policies, etc.

Composition and skills of the Board of Directors

Greentech focuses on having a Board of Directors that is able to inspire and support the Company’s Management through a relevant and differentiated composition of skills. Hence, some of the most relevant competencies in relation to the Company’s activities are within energy, utility, renewable energy, financing, environment and hydro. The current Board of Directors represents a differetiated composition of skills and has considerable expertise within these areas.
At future elections of new board members, Greentech will publish a detailed description of the persons together with the notification of the general meeting.
New members of the board will receive a thorough presentation of the Company and the Board of Directors will regularly consider potential supplementary updating, if so required.
The Board of Directors of Greentech consists of five members who are all elected by the general meeting. The size is considered to be appropriate in order to maintain a differentiated composition of skills and experience. Luca Rovati is considered as non-independent board member as he represents the major shareholder of GWM Renewable Energy II S.r.l, which controls Grentech Energy Systems A/S. The remaining four board members are considered independent with no special interests in the Company, except as shareholders.
No board members are elected by the employees as the parent company Greentech Energy Systems A/S has not yet met the requirement of having more than 35 employees.
The Board of Directors focuses on each member being able to deliver the commitment and the work that is required to have a professional and dynamic Board of Directors. A few of the board members have more directorships than stated in the corporate governance recommendations but the Board of Directors does not believe that this constitutes a limit to their commitment to Greentech.
The board members are up for election every year.
The Board of Directors of Greentech has not worked with a formalised self-evaluation but maintains a regular dialogue with a view to optimising the board work. This also applies to evaluation of the work of the Management and the collaboration between the Management and the Board of Directors.