Signe is at the table when LEO Pharma moves billions

When Signe Maria Christensen took her seat at the board table for the first time, she briefly found herself short of breath.

“At LEO Pharma, we are dealing with millions—or even billions—of kroner, and that can feel quite overwhelming,” she says.

She holds a Master’s degree in engineering and has spent her entire career developing pharmaceuticals in the pharma and biotech industries. She started out as a researcher, later worked as a project manager, and is now Alliance Manager at LEO Pharma, where she is responsible for the company’s strategic partnerships.

Since 2018, she has also been an employee-elected member of LEO Pharma’s board of directors, and she has just been re-elected for the second time. On the board, she has the same rights and responsibilities as the other members and therefore helps to shape the direction of one of Denmark’s leading pharmaceutical companies.

A right rarely exercised

Since 1974, employees in Danish public limited companies have had the right to elect representatives to the board if the company has had an average of at least 35 employees over a three-year period.

However, this opportunity is only used in one in five companies that meet the criteria. This is shown by a comprehensive study carried out by researchers from CBS, Goethe University Frankfurt and the ROCKWOOL Foundation.

This concerns Malene Matthison-Hansen, Chair of IDA’s Council of Employees:

“It is a missed opportunity for both employees and the company. Employees lose influence over their workplace, and companies miss out on valuable knowledge that could help strengthen their position.”

“If we want more employees on boards, it requires awareness of this right and well-functioning employee organisation. IDA would like to do even more to support members who need assistance with this.”

Read more about employee-elected board members

Founded the academic staff association at LEO Pharma

In 2015, Signe Maria Christensen took the initiative to establish LEO Pharma’s academic staff association, which secured her a seat on the cooperation committee, composed of representatives from both employees and management. This later became a stepping stone to her position on the board.

At the time, LEO Pharma was transitioning from focusing primarily on its own research to becoming more open, entering into licensing agreements and partnerships with other companies to gain access to their pharmaceuticals. This was a process she wanted to be part of.

“I remember wondering who was making these strategic decisions about which partnerships we should enter into. My motivation was largely that I wanted deeper insight into the company and greater influence over these decisions,” she explains.

After being elected to the board by her colleagues, one of the first things she did was approach the board secretary to request funding for a board training course. Even after completing the course, however, she still felt some nerves ahead of her first meeting.

“I did wonder whether I would have anything relevant to contribute, so I was very positively surprised by how warmly I was received.”

“My experience is that there is great respect for employee-elected board members and what they bring to the table,” she says.

When campaigning among her colleagues and explaining what she brings into the boardroom, she always highlights three things: her long tenure at LEO Pharma, which gives her in-depth knowledge of the company; her insight into strategic partnerships through her role as Alliance Manager; and her understanding of employee priorities through her role as Vice Chair of the academic staff association.

“When employees are represented on the board, it feels as if the organisation is connected from bottom to top. It creates greater dynamism and provides insight into employees’ everyday realities, which I believe helps us make better decisions at board level.”

The dilemma of being a board member

Being an employee-elected board member requires careful balancing.

Signe Maria Christensen is elected by her colleagues, but she must act in the best interests of LEO Pharma—and these do not always align with the interests of employees.

“Strategic changes, restructuring or redundancies may all serve the interests of the company, but they are not always in the interest of individual employees,” she explains.

This can be particularly difficult when she knows that cost-cutting measures are on the way but cannot share that information with colleagues because board discussions are confidential.

“Sometimes I find myself in conversations where it is simply easiest to stay silent—but I think my colleagues can probably tell why.”

However, she does not feel that her board work has distanced her from her colleagues, and there are also many positive contributions she is able to make.

“Fundamentally, it is about ensuring that LEO Pharma remains a good place to work—and that requires a healthy and robust financial position.”

At the same time, she helps make decisions on issues that she knows affect her colleagues’ job satisfaction.

“It is very natural to mention company culture, communication with employees and employment conditions—things that matter to everyone.”

“One issue I have stood firm on is introducing employee share schemes at LEO Pharma. It is not so much about the financial aspect, but about ensuring that everyone feels they are part of the journey.”

Anyone can contribute as a board member

According to Signe Maria Christensen, anyone considering standing for election as an employee-elected board member should be prepared for the time commitment, as part of the work takes place outside normal working hours.

Before each board meeting, she spends an entire weekend preparing and reviewing the materials, in addition to attending preparatory meetings with senior management and the other employee representatives.

In return, the role is both engaging and meaningful and has given her a far deeper understanding of LEO Pharma as a business.

“It is extremely rewarding to have a say in the decisions that are made. I have participated as an employee representative in candidate interviews when LEO Pharma was recruiting a new CEO and CFO, which I found to be a great honour. I have also taken part in board committees and worked in depth on specific topics.”

If you are motivated and willing to invest the necessary time in preparation, she believes that anyone can contribute to board work, regardless of their background.

“We have, for example, had employee-elected board members who struggled with English, but that did not prevent them from making valuable contributions.”

“Ultimately, you contribute your knowledge of the reality you work in. That is what you bring into the boardroom.”