Reward Academy program for 2021. 


Following successful 2018 and 2019 Reward Academy programs, we are delighted to tell you that the program - in partnership with Copenhagen Business School - will be back for a third time in 2021. (The 2020 Reward Academy was unfortunately postponed due to the COVID-19 pandemic). See the dates for the 2021 sessions below as well as the program description and statements from previous participants. Please note the first two sessions will be virtual/online and registration is handled through CBS


Reward Academy - four days with focus on executive remuneration

In order to equip companies with capabilities to meet new demands in the market place, the HCA Group at CBS, in partnership with Mercer Denmark, has established the Reward Academy for Senior Reward and Senior HR Professionals with exposure to executive remuneration, e.g. Remuneration Committee meetings, corporate governance etc. The program consists of four one-day seminars from May to September. 


The purpose of the Reward Academy is to expose business professionals to leading research and best practices in the area of executive remuneration and corporate governance while providing an opportunity to meet and learn from each other’s experiences. The seminars combine academic presentations, industry experts’ presentations and relevant cases.


Participants in the full programme will get access to a Knowledge Bank – a collection of selected readings on the topic of Remuneration and Corporate Governance. Upon completion, the participants will receive a participation certificate.  


Who can join?

The Reward Academy is targeting senior professionals working with executive remuneration or being part of remuneration committee meetings. More generally, the Reward Academy targets individuals, who are interested in discussing and learning about the challenges and opportunities within executive remuneration.  See statements from participants >



Registration is handled through CBS. We recommend to sign up for the full academy, but it is also possible to join the sessions individually. Please note the Knowledge Bank is only available for the full Reward Academy participants.


  • Full Reward Academy (all four sessions) cost 30.000 (excl. VAT)
  • Individual sessions cost DKK 7.500 (excl. VAT)
    access to Knowledge Bank not included

Overall facilitator and moderator for all sessions is Dana Minbaeva, Professor of Strategic and Global Human Resource Management at the Department of Strategy and Innovation, and the Vice-President for International Affairs at Copenhagen Business School.


First two sessions will be virtual/online due to COVID-19 restrictions. We hope that we will be albe to meet in person for the remaining two sessions at Copenhagen Business School, Kilevej 14, 2000 Frederiksberg, Denmark. 



See details on the four sessions

Including individual sign-up information.

  • Session One

    Reward Academy Session one

    The Art of Executive Compensation: 5 May 2021   -   (virtual session)


    During the first module, participants will be introduced to the general context of executive remuneration. First, we introduce the key concepts of corporate governance and its specific influences on executive remuneration. We will discuss questions like:

    • What is “corporate governance” and why is it necessary?
    • What is a) mandated and b) expected as part of a good corporate governance framework?


    Then, we take a deep dive in the theories around pay-for-performance and get introduced to a multiple stakeholder view on pay. We discuss basic principle of executive compensation, reflect on effectiveness and efficiency of pay and derive three questions that explain executive compensation.  Through a case discussion we raise questions about how to balance incentive remuneration effectively in recruiting and retaining top managers, while addressing shareholder concerns about executive compensation.


    Industry experts will offer some practical advice on how to work with short-term vs. long-term incentives and make an effective incentive plan. We will have a general debate around questions like:

    • Have incentive designs gone too far?
    • Are they simply too complex to be of benefit to executives and shareholders?
    • How much should we simplify if at all?




    Industry experts:

    • Peter Boreham, UK & European Practice Leader (Executive Reward) at Mercer | Kepler


    Event information:

    • Date: 5 May 2021
    • Time: 09:00-15:30
    • Venue: Virtual session due to COVID-19 restrictions
    • Price: DKK 7500 + VAT per person
    • Registration: Please register with CBS and comment that you are only interested in Session One


  • Session Two

    Reward Academy Session Two

    Remuneration Committee: What, why, who and how? - 2 June 2021   -   (virtual session)


    Using a case study we will discuss how much governance / control should there be on executive pay decisions and look at the interaction between compensation committees and shareholders on issues of executive pay, particularly under the regime of "Say on Pay." 


    We will then zoom in on the specific role of Remuneration Committee (RemCo) and consider the following questions:

    • What is the role and purpose of a RemCo? What makes it effective?
    • Who are the various parties who attend a RemCo and what are their roles and responsibilities?
    • How to be an effective internal advisor to a RemCo?
    • What is the role of external advisors and what should you expect from them?


    From our guest speakers/industry experts, participants will receive a hands-on advise on how to be an effective internal advisor to a RemCo.




    Industry experts:

    • Peter Boreham, UK & Europe Practice Leader (Executive Reward) at Mercer | Kepler


    Event information:

    • Date:  2 June 2021
    • Time: 09:00-15:30
    • Venue: Virtual session due to COVID-19 restrictions
    • Price: DKK 7500 + VAT per person
    • Registration: Please register with CBS and comment that you are only interested in Session Two


  • Session Three

    Reward Academy Session Three

    Executive Remuneration: Disclosure: 25 August 2021   -   (in person if possible)


    This seminar is about executive compensation disclosure. We will look into

    • The psychological impact of disclosure on areas such as perceived pay equity / fairness, and how this can influence individual and group behaviors. 
    • The evolution of executive compensation disclosure, leading into an overview of the Shareholder Rights Directive.  


    Using practical examples we will discuss disclosure dilemma every company faces and ways to solve it. A case study will illustrate the importance of understanding business model and management style of the organization, and discuss implications for governance policy in determining senior executives' compensation.


    Industry experts will indicate where disclosure might be heading in the future (e.g. pay ratios, relocation benefits, post-vesting holding periods), and drawing on insights from the 2018/19 voting season. Participants will be offered a practical guide for managing boardroom pay disclosure and discuss some practical considerations of drafting a remuneration report, including “hot spot” issues / best practices. During group work, we will develop the toolbox for successful navigation in the waters of the new remuneration regime.



    • Xavier Baeten, Professor of Reward and Governance at Vlerick Business School 


    Industry expert:

    • Peter Boreham, UK & Europe Practice Leader (Executive Reward) at Mercer | Kepler


    Event information:

    • Date: 25 August 2021
    • Time: 09:00-15:30
    • Venue: Copenhagen Business School, Kilevej 14, Frederiksberg, Denmark  (if possible depending on COVID-19 restrictions)
    • Price: DKK 7500 + VAT per person
    • Registration: Please register with CBS and comment that you are only interested in Session Three


  • Session Four

    Reward Academy Session Four

    Shareholder Engagement: Challenges and Solutions: 29 September 2021   -   (in person if possible)


    At the fourth seminar we revisit the principles of effective stakeholder relationships and discuss how executives and organizations respond under external pressures. Some of the key points of our discussions are:

    • Shareholders often have different aims and agendas – how can a company effectively manage these tensions and potential conflicts?
    • Insights on engagement from other markets – what might we expect in Denmark?
    • What level of responsibility should the media take in its shaping of public opinion?


    We will learn about basic principles of crisis management. Many academics and public relations specialists have suggested that, when responding to crises, executives should make full and immediate disclosures about the circumstances surrounding the event. Corporate legal advisors, on the other hand, often caution their clients against unnecessary public statements. We will examine the pros and cons of a full disclosure policy and the circumstances in which it should or should not be used.


    Our industry experts will offer practical advice on how to develop an effective engagement strategy for various internal and external stakeholder groups at the time of crisis – shareholders, proxy advisors, media etc.




    Industry expert:

    • Birgitte Henrichsen is a Partner at Jesper Klit & Partners. Formerly,  A.P.Møller – Mærsk as a Vice-President Communication, SVP. at Scandinavian Tobacco Group, Journalist and editor at DR 
    • Peter Boreham, UK & Europe Practice Leader (Executive Reward) at Mercer | Kepler


    Event information:

    • Date: 29 September 2021
    • Time: 09:00-15:30
    • Venue: Copenhagen Business School, Kilevej 14, Frederiksberg, Denmark (if possible depending on COVID-19 restrictions)
    • Price: DKK 7500 + VAT per person
    • Registration: Please register with CBS and comment that you are only interested in Session Four



What do the participants say?

“The Reward Academy was a great opportunity for me to learn about new research in the executive remuneration area. Having a mix of case studies, executive reward consultants and professors from leading business schools in a room together with experienced rewards professionals, provided some great insights and perspectives. With the introduction of ‘Say on pay’ in the Danish legislation, I believe the academy is more relevant than ever.” 


Michael Rohlff
Director, Compensation & Benefits, Global HR, Pandora

“I strongly recommend the Reward Academy. The combination of science, consulting and peer experience is outstanding. The external speakers are great, the participants are engaged and keen on sharing experiences and it’s all neatly prepared, packaged and summarized by CBS and Mercer”.


Magnus Siorholm
Head of Group Compensation & Benefits, Rambøll

“The Reward Academy provided me with the latest update on regulations and expectations from investors on executive reward. We had a good balance between academic and case studies from relevant businesses”


Hilde Sandgren
Senior Advisor Reward & Employee Relations, Equinor ASA

“During the Reward Academy I greatly enjoyed discussing the many perspectives that you encounter with working on executive rewards, from the board of directors to the outside media. The insights provided by both academics and professionals provided a good mix and is very relevant to today’s context. I also gained a network of other C&B professionals with whom I will occasionally continue to connect.” 


Marie Moberg
Head of Compensation & Benefits, Bonava A