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Diversity and inclusion

The section of the report constitutes our statutory report on the gender composition of the management for the financial year 2019, according to Section 99b of the Danish Financial Statements Act (“Lovpligtig redegørelse for den kønsmæssige sammensætning af ledelsen, jf. årsregnskabslovens § 99 b"). The report forms part of management’s report in the Group’s annual report for 2019 and covers the financial year 1 January – 31 December 2019.

At least once a year, the Board of Directors discusses the composition of the Board of Directors as well as the Executive Management. The Board itself has an international profile. At present, four out of the seven shareholder-elected members of the Board of Directors are a nationality other than Danish and a total of five nationalities are represented. Members of the Board of Directors hold a wide range of commercial, FMCG, financial, management and tobacco industry experience and qualifications.

In Scandinavian Tobacco Group Assens A/S, the other Danish company of our Group which is subject to the reporting requirement in section 99b of the Danish Financial Statements Act, one of the three shareholder-elected directors is a woman (i.e. 33%).

The Board of Directors had set the goal that, by 2020, at least 25% of the shareholder-elected members of the Board of Directors should be women. The goal was reached in 2019 when two out of seven, or 28%, of the members were female. According to the Danish Financial Statement Act §99b this distribution is considered an equal distribution. The Board of Directors has therefore set a new goal that, by 2024, 30% of the shareholder-elected board members should be women.

Women in senior management

We wish to have better representation of women at senior management level, as women are currently the under-represented gender. We aim to identify all talents with leadership potential in the Group, irrespective of gender, and want to identify and develop women who can grow into leaders and take on more responsibility or advance in their existing leadership roles. It continues to be our ambition that, in 2020, one-third of senior managers are women. We have not reached that goal yet. In 2019, 20% of the top three levels of the organisation were women.

Our Group’s performance tracking process covers approximately 1,800 employees across functions and geographies evaluating the individuals’ performance and potential. This process helps ensure that a gender diverse talent base is identified each year.

The Group has a tradition for channelling young university graduates with international profiles into key roles via our International Graduate Programme within marketing, sales and finance. The share of women recruited in the Programme from its inception Diversity and Inclusion to date is approximately 63%.

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