Mayor, Municipality of Kalundborg
Martin Damm
Chairman
Corporate Governance
Below, we have gathered information that provides insight into the frameworks applicable to our management and our business.
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Board
Board of Directors
The Board of Directors is responsible for the overall management of KommuneKredit. The Board consists of ten members of whom the municipalities elect six who must be members of a municipal council, the regions elect two who must be members of a regional council and the Board elects two independent members who must have qualifications within accounting, auditing, finance or risk management.
On 13 March 2024, the Board elected Mayor Martin Damm as Chair and Mayor Thomas Lykke Pedersen as Vice-Chair.
The term of office of one of the independent members is staggered over two years compared to the rest of the Board. Therefore, Birgit Aagaard-Svendsen was elected for the period from 1 June 2020 to 31 May 2024.
Mayor, Municipality of Fredensborg
Thomas Lykke Pedersen
Vice-chairman
Chairman of the Audit Committee
Birgit Aagaard-Svendsen
Regional Council Member
Carsten Scheibye
Mayor, Municipality of Sønderborg
Erik Lauritzen
Mayor, Municipality of Gentofte
Michael Fenger
Mayor, Municipality of Brønderslev
Mikael Klitgaard
Mayor, Municipality of Horsens
Peter Sørensen
Professional non-executive boardmember, Consultant
Susanne Kure
Independent member
Regional Council Member
Tormod Olsen
Committees
Committees Appointed by the Board
Audit Committee
The Audit Committee prepares materials for the Board of Directors and its work as regards reporting and accounting matters, including the related risks and other issues that the Board may wish the Audit Committee to review more closely.
The Audit Committee consists of three board members, two of whom are independent board members. At least one of those two members must have qualifications within accounting, auditing, finance or risk management.
Members of the Audit Committee are:
- Birgit Aagaard-Svendsen, Independent member, Chair
- Susanne Kure, Independent member
- Mayor Martin Damm, Municipality of Kalundborg
Nominations Committee
The Nominations Committee prepares the Board og Directors for its work of nominating and appointing candidates for the two independent board positions and candidates for the executive management.
The Nominations Committee consists of three or four board members, two of whom are the Chair and Vice-Chair.
Members of the Nominations Committee are:
- Mayor Martin Damm, Municipality of Kalundborg, Chair
- Mayor Thomas Lykke Pedersen, Municipality of Fredensborg
- Mayor Michael Fenger, Municipality of Gentofte
- Regional Council Member Tormod Olsen, Capital Region
Jens Lundager, CEO, (left) and Henrik Andersen, Managing Director
Management Board
KommuneKredit’s Management Board is headed by two managing directors, both of whom are appointed by the Board of Directors and one of whom is also the Chief Executive Officer. The Management Board is authorised to make all decisions relating to the daily business. The Management Board consists of: Jens Lundager, Chief Executive Officer and Managing Director Henrik Andersen, Managing Director
Remuneration Report
Based on §77d of the Financial Business Act, we have prepared a report that includes information on the management's salaries.
Code of Conduct
Our Code of Conduct helps us make the right decisions and behave appropriately — both internally and externally.
Values
Our values reflect the strengths and culture of our association.
Policies and guidelines
Our policies and guidelines govern our day-to-day operations and ensure compliance with regulation, sound processes, risk identification etc.
Transparency
Good Corporate Governance
While KommuneKredit is not directly encompassed by a corporate governance code, we do, where relevant and within the provisions of the Act on KommuneKredit, apply the ‘Corporate governance recommendations’ issued by the Danish Committee on Corporate Governance. Based on those recommendations, we have published a report on corporate governance.
Read our Corporate Governance ReportTransparency
Good Corporate Governance
While KommuneKredit is not directly encompassed by a corporate governance code, we do, where relevant and within the provisions of the Act on KommuneKredit, apply the ‘Corporate governance recommendations’ issued by the Danish Committee on Corporate Governance. Based on those recommendations, we have published a report on corporate governance.
Read our Corporate Governance ReportapproachtoESG