Board

BOARD

Principles for good corporate governance in STIBOFONDEN

The most important objective for the foundation STIBOFONDEN is to be the owner of the Stibo companies. As stated in the charter of the foundation, the foundation must ‘assist in ensuring a firm, skilled and enterprising management’ of the companies and contribute to ensuring ‘a continuous consolidation and development of the companies and in all make any possible efforts that the companies remain and maintain the highest achievable technical standard’.

The foundation pursues the policy that the main part of the profit and the cash flow effected in the companies remain in the companies to ensure the financial basis for the future development of the companies. Thus, the foundation is reluctant in withdrawing profit from the companies. Consequently, the amounts of granted donations are relatively modest. According to the charter, the donations are granted for scientific research, for effectuation of social and cultural tasks and finally for purposes that have beneficial effects on the Danish business environment. Over the last couple of years, donations were primarily granted for cultural and social purposes. In the fiscal year 2017/18, granted donations amounted to DKK 2.9 million. Hereof, approximately DKK 444.000 were donated to 8 Ph.D. students (IT Travel Grants – a program which is only available for Ph.D. students at Danish universities).

The foundation board has considered principles for good corporate governance in foundation-owned companies and is prepared to comply with the principles. The foundation’s policy stipulates that there must be no interlocking directorates between the foundation board, the operational board and the company management to strengthen independence and the possibility of exercising control. The foundation management requires the company’s information level to be at the same level as the one that shareholders and analysts may require from listed companies. This is ensured by quarterly reporting – written and oral – from the company management to the foundation board.

The age limit for members of the foundation board is 70 years. Since 2013, foundation board members are not re-electable after 12 years’ membership of the foundation board.

STIBOFONDEN has the objective that – before 2020 - at least one board member must be a woman. Currently, none of the members of the foundation STIBOFONDEN board are women.

  

Board of Directors of  STIBOFONDEN

 Below is an overview of the board of directors:
 
Ebbe Malte Iversen (chairman of the board), born 1951, and has been member of the board since January 2013. Ebbe Malte Iversen was re-elected in 2017 and is considered to be an independent board member. His yearly director’s fee from STIBOFONDEN for the fiscal year 2017/18 amounts to DKK 150,000. Furthermore his director's fee for Stibo Holding A/S og Stibo A/S amounts to DKK 250,000 for the fiscal year 2017/18.
 
Ebbe Malte Iversen is CEO of Per Aarsleff A/S ( a leading Danish contracting company), holds a BSc. Civil Engineering and has management experience within a stock exchange quoted company.
His management experience comprehends organization development, strategy development and general management. 
 
Other directorships:
  • Stibo A/S (board member), Stibo Holding A/S and Stibo Ejendomme A/S (chairman)
  • Dansk Byggeris eksportsektion (chairman)
  • Dansk Projekteksport Netværk (chairman)
  • egetæpper (chairman)
 
Morten Reignald Pedersen (vice-chairman), born 1968, and has been member of the board since April 2014. Morten Reignald Pedersen is up for re-election in 2022 and is considered to be an independent board member.
 
His yearly director’s fee from STIBOFONDEN amounts to DKK 90,000 for the fiscal year 2017/18. Furthermore his director's fee for Stibo Holding A/S amounts to DKK 53,000 for the fiscal year 2017/18.
 
Morten Reignald Pedersen has served as Deputy CEO of Falck A/S and holds a BSc. Finance and Administration. Before his appointment in 2008 as Deputy CEO he was Finance Director of Falcks Redningskops and Financial Manager of Falck A/S. Prior to his positions within Falck, Morten Reignald Pedersen was Finance Director of  York International, Marine Division.
 
Other directorships:
  • Stibo Holding A/S and Stibo Ejendomme A/S (vice-chairman)
  • Liberatio A/S and Liberatio Investments ApS (board member and director)
  • Practio ApS (board member)
  • Resilio ApS (board member)
  • Blæksprutten ApS (board member)
 
Carsten Nygaard Knudsen, born 1961, and has been a member of the board since January 2017. Carsten Nygaard Knudsen is up for re-election in 2021 and is considered an independent board member.

His yearly director’s fee from STIBOFONDEN amounts to DKK 60,000 for the fiscal year 2017/18. Furthermore his director's fee for Stibo Holding A/S amounts to DKK 35,000 for the fiscal year 2017/18..

Carsten Nygaard Knudsen is managing director of Søgaarden Sjælsø ApS and holds an MBA, a Graduate Diploma in Business Administration supplemented with several international management courses. Up to December 2014, Carsten Nygaard Knudsen was CEO at Esko bvba. From 2000 till 2003, he was Group CFO at ISS A/S. However, he started his career in AP Møller/Maersk where he held several different positions during his 13 years in the company.

Other directorships:

  • Stibo Holding A/S and Stibo Ejendomme A/S (board member)
  • Lyngsoe Systems A/S and Lyngsoe Systems Holding A/S (board member)
  • GSV Holding A/S  and GSV Materiel Udlejning A/S (chairman)
  • Glunz Jensen A/S, Glunz Jensen Holding A/S og Selandia Park A/S (chairman)
  • Dane TopCo ApS (DEAS A/S) (director)
  • Black TopCo ApS (Covidence A/S) (chairman)
  • Languagewire A/S and Languagewire Holding A/S (board member)
  • Tresu A/S, Tresu Investment A/S, Tresu Group Holding A/S, Tresu Investment Holding A/S (chairman)

 

Jakob Røddik, born 1975, and has been member of the board since January 2018. Jakob Røddik is up for re-election in 2022 and is considered an independent member.

His yearly director’s fee from STIBOFONDEN amounts to DKK 20,000 for the fiscal year 2017/18. Furthermore his director's fee for Stibo Holding A/S amounts to DKK 20,000 for the fiscal year 2017/18.

Jakob Røddik is lawyer and Group General Counsel and Head of Group Legal & Property Development of the Salling Group. Previously Jakob Røddik was lawyer at the law firm Plesner Advokatpartnerselskab, law firm Gorrissen Federspiel and A.P. Møller-Mærsk A/S.

Other directorships:

  • Stibo Holding A/S and Stibo Ejendomme A/S (board member)
  • The foundation Købmand Ferdinand Sallings Mindefond (board member)
  • Salling Group Forsikring A/S (chairman)
  • Salling Group Ejendomme A/S (board member)
  • F. Salling A/S (board member)
  • Dansk Retur System A/S (board member)