Board of Directors

The Board’s guiding principle is to add value for the benefit of shareholders, customers and employees through controlled growth of the dry cargo and tanker activities.

The Board of Directors determines strategies, action plans, goals and budgets, appoints the Management and sets out its terms and tasks. 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.

Six members of the Board are elected by the shareholders and three are elected by the employees. All board members elected by the shareholders are independent of NORDEN. They have never been employed by the Company and hold no interests in the Company other than their interests as shareholders or representatives of major shareholders.

Profiles
	Mogens Hugo Chairman and Member of the Board since 1995, born in 1943. Managing Director. Most recently re-elected in 2008. Directorships, etc. in other companies and organisations in Denmark and abroad: GN Store Nord A/S (CB), Amminex A/S (CB), Danelec Electronics A/S (CB), Nordea Danmark-Fonden (CB) and Aagaard - Bræmer Holding A/S (CB).

	Alison J. F. Riegels Vice Chairman and Member of the Board since 1985, born in 1947. Managing Director. Most recently re-elected in 2008. Directorships, etc. in other companies and organisations in Denmark and abroad: A/S Motortramp (MD, BM).

	Einar K. Fredvik Member of the Board since 2005, born in 1938. Managing Director. Most recently re-elected in 2007. Term expires in 2009. Directorships, etc. in other companies and organisations in Denmark and abroad: Nortrans Touring AS (BM).

	Erling Højsgaard Member of the Board since 1989, born in 1945. Managing Director. Most recently re-elected in 2006. Directorships, etc. in other companies and organisations in Denmark and abroad: A/S Motortramp (VCB), Navision Shipping Company A/S (CB) and Danbulk A/S (BM).

	Dag Rasmussen Member of the the Board since 2007, born in 1968. Managing Director. Directorships, etc. in other companies and organisations abroad: Einar Rasmussen Investment A/S (BM), Rasmussengruppen AS (MD and BM) (also: BM of Avantor AS and other wholly-owned subsidiaries of Rasmussengruppen AS), Start Toppfotball AS(BM) and "Skipskredittforeningens stiftelse for maritime forskning på Sørlandet" (BM).

	Karsten Knudsen Member of the board since 2008, born in 1953. Group Managing Director, Nykredit A/S. Directorships, etc. in other companies and organisations abroad: Nykredit Bank (CB), LeasIR A/S (CB) and Nykredit Forsikring (BM).

	Benn Pyrmont Johansen Elected employee representative since 2008, born in 1974. Captain.

	Lars Enkegaard Biilmann Elected employee representative since 2006, born in 1964. Captain.

	Bent Torry Sørensen Elected employee representative since 2008, born in 1953. Chief Engineer.
CB: Chairman of the Board. VCB: Vice Chairman of the Board. BM: Board Member. MD: Managing Director.