Governance and Policies

The LEGO Foundation is managed by a board of directors composed of six members elected in accordance with its charter. The board approves the strategy of the LEGO Foundation and makes decisions about how the Foundation directs its use of resources, including grants.

Furthermore, the board also supports and supervises the organisation and makes sure that the LEGO Foundation is managed appropriately and in accordance with applicable legislation and its charter.The Board has appointed a CEO who is responsible for the day-to-day management of the Foundation. The CEO is supported by a leadership team of seven members.

There is a minimum of four board meetings each year, supplemented by additional conference call meetings when necessary. The work of the board is regulated in its rules of procedure. The rules of procedure are drawn up to describe the responsibilities of the board of directors and the CEO as well as regulating the operation of the board work.

The LEGO Foundation board reviews the Foundation's strategy and the distribution policy on an annual basis and warrants that policies and procedures are in place to ensure good governance.

The six members of the board are elected for a period of two consecutive years, taking the need for continuity in the board’s work into consideration. In compliance with the recommendations on foundation governance, two members are independent.

In accordance with the board's rules of procedure, the board of directors annually evaluates the competences of the board to ensure that the required collective competences are present to serve the purpose of the LEGO Foundation.

New board members are nominated and appointed, with due respect of the rights in the charter. Members of the board of directors are appointed based on their personal qualities and competences. No one over the age of 75 can be elected or re-elected to the board.

The independent members of the board are rewarded a fixed remuneration that does not depend on the financial results. The remuneration of each member is specified in the annual report.

The LEGO Foundation is providing transparency for all its activities through information on the LEGO Foundation website where the activities of the year are described in more detail.

The LEGO Foundation board of directors annually accounts for its position on Recommendations on Foundation Governance.