The ATP Group Annual Report 2012

Management's Review Business Model Risk Pension Hedging and Investment Hedging Investment Administration Social Responsibility The ATP Group Financial StatementsGeneral ManagementATP is an independent, statutory institution, managing theATP Pension Scheme as well as the Supplementary LabourMarket Pension Scheme for Disability Pensioners (SUPP).ATP is managed by a Board of Representatives, a SupervisoryBoard and a Chief Executive Officer (CEO). The compositionof the ATP Board of Representatives and SupervisoryBoard is determined by law. The CEO is appointed by theSupervisory Board. The Board of Representatives comprises15 employer representatives, 15 employee representativesand a Chairman appointed by the Board of Representatives.The chairman may not be affiliated with any employeror employee organisations. The Board of Representativesconvenes once a year. The Supervisory Board comprisessix employer representatives, six employee representativesand the Chairman of the Board of Representatives. The SupervisoryBoard convenes five times a year. The membersof the Board of Representatives and Supervisory Board areappointed by the Minister of Employment – upon the recommendationof the social partners. The Chairman and theother members of the Supervisory Board and the Board ofRepresentatives are appointed for three-year terms and areeligible for reappointment. No age limit applies.decisions and to prepare and implement Supervisory Boardresolutions as authorised by procedures adopted by the SupervisoryBoard. The Executive Committee has the authorityto make a range of decisions, especially pertaining to investmentand employment conditions. The Executive Committeeconvenes once a month and also handles the tasksassigned to the Remuneration Committee. The tasks of theRemuneration Committee are to prepare Supervisory Boarddecisions on remuneration, including pay policy and otherrelated decisions that may influence the company's riskmanagement.The Supervisory Board has appointed an Audit Committee– consisting of the Chairman of the ATP Supervisory Boardand two other Board Members. The Chairman of the SupervisoryBoard is the Chairman of the Audit Committee. TheAudit Committee has been appointed to assist the SupervisoryBoard in fulfilling its oversight responsibilities relatingto the financial reporting process with a view to ensuring reliability,integrity and transparency in financial reports. TheATP Audit Committee convenes four times a year. The AuditCommittee’s Terms of Reference are determined by the SupervisoryBoard.The Supervisory Board has appointed a three-member ExecutiveCommittee – consisting of the Chairman and two SupervisoryBoard Members, appointed by the employer andthe employee representatives of the Supervisory Board, respectively.It is the task of the Executive Committee to makeFor further information on the Group's corporategovernance and incentive schemes, please visit www.atp.dkThe ATP Group – Annual Report 2012137