Boar d of Dir ectors and Executive Board/Management Design and production: Boje & Mobeck as Æ Front page: Carlsberg Æ Printed by: PrintDivision A/S Board of Directors Carlsberg A/S Professor D.Econ. Poul Chr. Matthiessen Chairman Director Palle Marcus Deputy Chairman Brewery Worker Hans Andersen Professor, D.Ph. Torkild Andersen Professor, D.Sc., Ph.D., Dr.h.c. Povl Krogsgaard-Larsen Sales Driver Preben Hedegaard President, Chief Executive Officer Henning Dyremose Managing Director Jens Bigum Professor, D.Ph. Axel Michelsen EDP Office Manager Erik Dedenroth Olsen Professor, D.Ph. Per flhrgaard