Board of Directors

The Board of Directors in UIE held four ordinary board meetings (BM) in 2024 and one strategy meeting, with all directors attending except one Board member, who was excused for one board meeting.

In 2024, alongside addressing various contemporary business matters, UIE focused on several important issues. These included assessing the impacts of global economic fluctuations and geopolitical instabilities on its activities, mitigating associated risks, advancing strategic planning, driving progress in ESG initiatives, optimising capital structure, executing the share buy-back programme, enhancing IT security, and implementing the CSRD.

The remuneration of the Board of Directors and Management for 2025 was provided in accordance with the remuneration policy of UIE.

Remuneration policy at a glance
UIE’s remuneration policy for the Board of Directors and the Management is designed to attract, motivate and retain qualified members to the Board of Directors and the Management, while also supporting the Company’s strategic goals and fostering long-term sustainable value creation for the benefit of UIE’s shareholders.

UIE strives to ensure that remuneration remains at a reasonable level relative to the achieved results and the Company’s particular situation. The remuneration policy aims to provide the Board of Directors and Management with a competitive financial package, which is regularly reviewed against external benchmarks.

In 2025, the ordinary fixed annual Board fee constituted USD 47,500, the same remuneration level as in 2024. The Chairman and Deputy Chairman, however, received a higher remuneration for their extended board duties (USD 75,000 and USD 60,000 respectively).

In addition to the remuneration mentioned above, a separate fixed annual fee is paid to the Audit Committee. The basic remuneration for the Audit Committee members constituted USD 10,500 for the financial year 2025. The Chairman of the Audit Committee received an additional remuneration of USD 4,500 for his extended duties and responsibilities.

A fixed fee is also paid to members of the Investment Committee. The Investment Committee members receive a basic remuneration of USD 1,000 per annum, while the Chairman receives USD 2,000 per annum for his extended duties and responsibility.

Members of the Nomination Committee and the Remuneration Committee are not paid any fees in addition to the ordinary Board fee.

The Board conducts a formal annual self-evaluation using a structured questionnaire that covers performance, effectiveness and the way the Board works together. The 2025 evaluation confirmed effective collaboration and communication between the Board and Management, and between the Board and its Committees, with constructive dialogue and well-structured meetings.

The evaluation affirmed the effectiveness of the Board’s current composition and organisation, and raised no significant concerns.

Its recommendations were to keep pace with the evolving regulatory frameworks — the EU Listing Act, CSRD and the EU Omnibus Directive — to follow developments in AI within the Greenbridge investments, and to seek external insight into edible oil supply and demand and global economic trends amid persistent uncertainty.

The Board of Directors regularly reviews the structure, size and composition of the Board, including assessing whether the required competencies are adequately represented. A key aspect of this assessment is enhancing diversity, including representation of both genders at board level, which is of high priority when considering profiles of potential board candidates. This commitment to diversity is also reflected in UIE’s diversity policy, which is publicly available on the Company’s website.

Recognising the importance of gender diversity, UIE is determined to ensure a more balanced representation of genders on its Board of Directors. In 2022, Dr Catherine Bannister was elected to the Board, bringing female representation on the Board to 13%. Building on this progress, UIE has set a new target figure for the share of the under-represented gender: to increase female membership on the Board to at least 25% by 2026. The pursuit of a more gender-balanced composition is an ongoing endeavour.

However, the Board recognises that diversity extends beyond gender. It encompasses various dimensions, including ethnicity, race, religion and age. With this broader perspective of diversity, UIE takes pride in having a Board that reflects a rich tapestry of personal backgrounds and experiences. This diversity fosters a more comprehensive and nuanced approach to decision-making in the boardroom.

Regarding the management structure, UIE’s Management consists solely of the Managing Director. Given this singular management role, UIE does not specify distinct diversity targets for its management functions. Nonetheless, the Company is committed to upholding its principles of diversity and inclusion across all levels of its organisational structure.

The Board works to the Company’s Articles of Association, its own rules of procedure, and Nasdaq Copenhagen’s Rules for Issuers of Shares. UIE reports on the Danish Recommendations for Corporate Governance on a comply-or-explain basis in the Annual Report.

The Articles of Association and UIE’s policies are published under Corporate governance, together with the Nomination Committee’s competency matrix for the Board.