Corporate Governance

 

The Committee on Corporate Governance has developed a number of recommendations for good corporate governance in listed companies.

Although CPH City & Port Development is a publicly owned partnership, the company operates on commercial terms similar to those that apply to listed companies, and the company has therefore chosen to generally follow the recommendations.

Each year, the Board of Directors reviews existing and new recommendations on good corporate governance and assesses whether CPH City & Port Development shall revise its practice in the company's areas of activity

Partnership Meetings

CPH City & Port Development is owned jointly by the State and by the City of Copenhagen, with 95% and 5% respectively. The two parties exercise their influence over the company at partnership meetings that are usually convened once a year before the end of April. The meetings are convened in accordance with the articles of association and with at least two weeks' notice. The meeting deals with the company's annual report and issues presented by the Board of Directors. The annual report is published on the company's website and is presented to the Danish Business Authority and to the Nasdaq. In addition to the stakeholders, the board's chairman, vice-chairman and the partnership's auditors also participate. Decisions taken at the partnership meetings require unanimity among the stakeholders.

Quarterly meetings

In addition to the annual report, the board also presents quarterly and half-yearly reports to the stakeholders, to Nasdaq and to the Danish Commerce and Companies Agency. These shall be sent within 5 weeks after the first and third quarter and are published subsequently. Based on these reports, quarterly meetings are convened where they are discussed and the status of the company's activities is presented. Both stakeholders have the opportunity to participate, as well as the company's chairman and any vice-chairman and relevant members of the Executive Board.

In addition to the annual report, the board also presents quarterly and half-yearly reports to the stakeholders, to Nasdaq and to the Danish Commerce and Companies Agency. These shall be sent within 5 weeks after the first and third quarter and are published subsequently. Based on these reports, quarterly meetings are convened where they are discussed and the status of the company's activities is presented. Both stakeholders have the opportunity to participate, as well as the company's chairman and any vice-chairman and relevant members of the Executive Board.

No decisions may be taken at the quarterly meetings. If the stakeholders wish to implement measures on the basis of the quarterly reports, an extraordinary partnership meeting shall be convened in accordance with the articles of association.

Composition of the Board of Directors

The Board is composed of 8 members. Two are appointed by the Ministry of Transport for the State and four are appointed by the City of Copenhagen. The remaining two members are employee representatives, who have the same rights, duties and responsibilities as the other members (for the relevant rules, see here). Details of the members of the Board can be found here and also in the annual report.

The board members are appointed for 4-year terms and reappointment is permitted. Appointment of a chairman and vice-chairman occurs by agreement between the State and the City of Copenhagen, such that they each have a representative in the chairmanship.

Audit Committee

An Audit Committee has been established - see its terms of reference here.

Tasks and responsibilities of the Board of Directors

The overall objectives and strategy of CPH City & Port Development are determined by the Board of Directors, and it also supervises the Executive Board's performance of the daily management. The Board of Directors is also responsible for ensuring that the company follows the guidelines set out in the articles of association and the business strategy. The responsibilities of the board and its chairman are set out in the board's rules of procedure, which are reviewed and updated annually by the board. The overall objectives and strategy of CPH City & Port Development are determined by the Board of Directors, and it also supervises the Executive Board's performance of the daily management. The Board of Directors is also responsible for ensuring that the company follows the guidelines set out in the articles of association and the business strategy. The responsibilities of the board and its chairman are set out in the board's rules of procedure, which are reviewed and updated annually by the board. The number of annual meetings is set out in the annual report.

The board conducts an annual self-evaluation. The evaluation is conducted by the individual members filling out a questionnaire anonymously to indicate their opinion of, among other things, the format of the meetings and material, methods on the board, follow-up and implementation of decisions taken, the work of the chairman, cooperation between the board of directors and the executive board, etc.

The Executive Board

The Executive Board is responsible for the daily management of the company and consisted of one member at the end of 2011. Information about the Executive Board can be found on the website of CPH City & Port Development and in the annual report. The Board of Directors shall determine the specific guidelines for the Executive Board, including the division of tasks between the Board of Directors and the Executive Board. 

Contact us

By & Havn
Nordre Toldbod 7
1259 Copenhagen
Denmark
Phone: +45 3376 9800
Email: info@byoghavn.dk


Emergency contact:


By & Havn’s hotlines only handle emergencies, such as water and storm damage concerning:

  • The company’s buildings and rental properties – T: 2337 5059
  • Maritime services, bridge opening, the lock, water areas and docking – T: 4042 3977
  • Land services, roads, open areas and rental areas - T: 2080 988 T: 2337 5059 

Parkering

  • In the event of acute problems in or on a By & Havn car park, press the ‘info’ button on the ticket machine. Otherwise, you can call the number provided. Our lines are manned around the clock. 

Commercial shipping

  • Calls from and concerning commercial shipping: please contact Copenhagen Malmø Port T: 3546 1138.


Media



The Board of Directors of CPH City & Port Development

The board of CPH City & Port Development consists of eight members. Two of the members are elected by the employees of the company.

See the members of the Board of Directors

Executive Committee of CPH City & Port Development