Corporate Governance


Össur hf. is an Icelandic company listed on Nasdaq Copenhagen. Össur communicates with its shareholders and other stakeholders about the Company’s financial and business developments in an open and honest manner. Össur provides investors, analysts and other stakeholders with information on regular basis through quarterly financial statements and other press releases. Every year, Össur hosts investor meetings and teleconferences with the CEO and the CFO, following quarterly reports and other key events. As a listed company, Össur complies with all relevant rules and regulations, and applies the Danish Recommendations on Corporate Governance. The Recommendations are the best practice guidelines for companies admitted to trading on a regulated market in Denmark. Össur issues annually a Corporate Governance Report and a Remuneration Report, that are available here.

Global Compliance Function


Össur has operations in more than 25 countries and distributes its products worldwide. Built on the basis of the Company’s values – Honesty, Frugality, Courage – and the Company’s Code of Conduct, Össur has various policies in place to guide the employees on compliance and business integrity. The Company sees the benefits of taking a holistic view of the relevant risks and combining efforts in the broad range of compliance activities.

Originally based on a risk assessment performed by external consultants, Össur has prioritized its efforts in building a global compliance function and increasing maturity across different compliance areas. Main focus will be on Third Party Due Diligence, Anti-Corruption and Anti-Bribery, Sanctions, Anti-Money Laundering and Anti-Trust.

The roll out of a comprehensive compliance and security program started in 2020 with the Audit Committee approving the governance framework and the strategy. A Compliance & Security Committee was established to supervise and support the strategy execution. The Compliance & Security Committee  is composed of five members, including the CEO and two EVPs.

Össur Speak-Up Line

In 2020 a whistleblower system was implemented at Össur, called the Össur Speak-up Line. The Össur Speak-Up Line is operated as an independent function. Everyone who makes a report in good faith is guaranteed protection from retaliation and all reports are treated confidentially. The Össur Speak-Up Line is available 24 hours every day of the year. Reports can be filed online or through any mobile browser. The Speak-Up Line is available in local languages and hosted by an independent third party in compliance with local regulations and GDPR.

Össur Speak-Up line

Training and Awareness

Training of compliance related matters and policies is twofold. For some training activities employees need to acknowledge policies or procedures and in other instances training is a combination of face-to-face training and online training. This is prioritized based on position and geography. The main emphasis has been on the continued training of key employees and employees located in high-risk areas, or those responsible for the Company’s businesses in high-risk areas. Össur has policies in place that guide and support employees, such as the Anti-Corruption and Bribery policy and the Supplier Code, which are signed by the Company’s business partners. Review a full list of policies here.

Data Privacy

To be able to conduct business and provide service to customers Össur needs to collect and handle personal data. It is Össur‘s priority to treat data with the utmost respect and confidentiality. Most countries have legislation in place obligating companies to handle personal data securely. To ensure compliance with Data Privacy legislations, Össur has established procedures, updated policies and facilitated awareness trainings about data privacy via internal announcements, e-learning, and dedicated intranet site as well as training sessions for relevant employees. Össur has appointed a Global Data Protection Officer to head up efforts within the field.

Tax transparency

Össur's core values, honesty, frugality and courage, are a strong foundation for the corporate culture and business strategy. These core values also serve as a strong foundation for Össur’s tax strategy. Based on its corporate social responsibility, Össur acts with integrity towards all stakeholders involved directly and indirectly with the company. As a high-profile medical device company, Össur acknowledges that paying tax is an important part of the Company's economic impact and contribution to society as taxes fund social investment

Tax Strategy

Össur seeks to obtain a competitive tax level in a responsible way and as a general rule, Össur pays corporate taxes in the countries it operates in. This means doing business in a way that meets expectations for good corporate citizenship and, paying taxes where profits are earned in accordance with prevailing national and international tax rules. We manage our tax affairs responsibly and transparently and we only undertake tax planning which aligns with our commercial and economic activities. We will not engage in artificial transactions which have the sole aim of reducing tax. We make fair, accurate and timely disclosure in correspondence and returns, and respond to queries and information requests in a timely manner. We provide all relevant information when requested to do so. If we discover errors in tax returns or correspondence with tax authorities, we disclose and correct them promptly.

Third Party Assurance

Vast majority of the data in the report is validated by external party. Audits on product suppliers are performed by TÜV in Hong Kong, all environmental data is validated by Klappir, a service provider collecting and processing environmental data. Össur has a certified Environmental Management System and Quality System which is audited by BSI. In addition, BSI audits Össur in accordance with the standard for equal remuneration for equal pay.

Corporate Goverance

For Corporate Governance Report and more information, please visit our Investor Relations section