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Scandinavian Tobacco Group A/S is incorporated in Denmark under Danish law. On 10 February 2016, our shares were publicly listed on Nasdaq Copenhagen.

Governance structure and activities

The Group’s corporate governance is based on the Danish Companies Act, the Danish Financial Statement Act, the International Financial Reporting Standards (IFRS), the Danish Securities Trading Act, Nasdaq Copenhagen A/S’ Rules for Issuers of Shares and the company’s articles of association.

The ultimate authority over the company is held by the shareholders who exercise their rights at general meetings. The annual report and amendments to the articles of association are approved by the general meeting which also elects members of the Board of Directors and the independent auditor. The general meeting exercises its powers pursuant to the provisions of Scandinavian Tobacco Group’s articles of association which are available on www.st-group.com.

As a publicly listed company, Scandinavian Tobacco Group is required by law to report on its compliance with the Danish Recommendations on Corporate Governance, which can be found at www.corporategovernance.dk. The company is required to report whether it complies with the Recommendations, and if it does not, an explanation must be provided (“comply-or-explain principle”).

Read more about our organisation and management here.


Scandinavian Tobacco Group complies with the corporate governance recommendations. A detailed overview can be found in Scandinavian Tobacco Group’s Statutory Report on Corporate Governance.

The Statutory Report on Corporate Governance for the Financial Year 2019 is available here.

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