The Board of Directors appoints the Executive Management and sets out its responsibilities and conditions. The members of the Executive Management are responsible for the day-to-day management, organising and developing, for managing assets, liabilities and equity, accounting and reporting, and it also prepares and implements the strategies. The ongoing contact between the Board of Directors and the Executive management is primarily handled by the Chairman and the CEO. The Executive Management participates in the board meetings and is supplemented by other executives in the stratey meetings when relevant.
NORDEN is managed based on its Corporate Soul Purpose and the values of Flexibility, Reliability, Empathy and Ambition. The management focus is long-term, and the goal is for the Company to develop for the benefit of its stakeholders within the risk framework set out by the Board of Directors.
NORDEN’s corporate functions, situated at the head office in Hellerup, are responsible for finance, accounting, IT, corporate control, legal, human resources, internal service, investor and press relations, business analytics, business applications and process excellence, fuel efficiency, corporate communications and CSR.
NORDEN’s operational activities are managed through three business departments, situated at the head office in Hellerup: Dry Cargo Department (business unit for dry cargo services), Asset Management (business unit for sale and purchase as well as long-term charter procurement of Dry Cargo and Tanker vessels) and Technical Department (responsible for technical management of the fleet, crewing, safety & environment, inspections & purchase and newbuildings).
The dry cargo and tanker activities are supported by offices in Singapore, Shanghai (China), Mumbai (India), Annapolis (USA), Rio de Janeiro (Brazil), Santiago (Chile), Vancouver (Canada) and Melbourne (Australia). NORDEN’s product carrier services are managed by Norient Product Pool.