Novo Nordisk (NOVO) AGM 2020 summary

Opening remarks and agenda

• AGM held on 26 March 2020; shareholders were asked to follow by live webcast rather than attend in person under Danish coronavirus precautions.

• The chair described the coronavirus outbreak as a humanitarian crisis placing societies under immense pressure.

• The CEO named employee wellbeing, continued medicine supply and support for impacted societies as priorities; many employees were working from home.

Financial performance review

• The 2019 statutory Annual Report was approved.

• The 2020 financial outlook was maintained as communicated on 5 February, based partly on patient flows normalising at the start of H2 2020; an update was scheduled for 6 May.

Board and executive committee updates

• Helge Lund and Jeppe Christiansen were re-elected chair and vice chair; Brian Daniels, Laurence Debroux, Andreas Fibig, Sylvie Grégoire, Liz Hewitt, Kasim Kutay and Martin Mackay were re-elected as directors.

• Helge Lund chairs the Nomination Committee; Jeppe Christiansen chairs Remuneration, Liz Hewitt chairs Audit, and Martin Mackay chairs Research & Development.

• PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed auditor.