Board of Directors
The Board of Directors of Danish Ship Finance has 11 members. 8 are elected by the shareholders in the general meeting, and 3 are elected by the company's employees.
Chairman
Eivind Kolding
Date of birth: 16 November 1959
Nationality: Danish
Considered to be an independent board member
Elected to the Board of Directors on 15 November 2016
Appointed by Danish Ship Finance Holding A/S
Directorships and executive positions:
Chairman of CASA A/S (and one group company)
Member of the Board of Directors:
Leo Fondet (and one group company)
BiQ ApS
NNIT A/S
Altor Fund Manager AB
Competencies:
Broad knowledge of shipping and the maritime industry, macroeconomics, banking, credit, insurance and finance, financial risk management, regulation and general management of international business.
Deputy Chairman
CFO & Partner Peter Nyegaard
Member of the Audit Committee
Date of birth: 16 May 1963
Nationality: Danish
Considered to be an independent board member
Elected to the Board of Directors on 15 November 2016
Appointed by Axcel
Other directorships:
Chairman of FIH
Member of the board of directors of Øens Murerfirma A/S
Chairman/member of a number of boards in the Axcel Group
Competencies:
Broad knowledge of general management of international companies, financial risk management, financial regulation, capital markets, credit, financing and macroeconomics.
Member
Group CFO Anders Damgaard
Chairman of the Audit Committee
Date of birth: 8 August 1970
Nationality: Danish
Considered to be an independent board member
Elected to the Board of Directors on 15 November 2016
Appointed by PFA
Other directorships:
Member of the Board of Directors:
Blue Equity Management A/S
Danish Ship Finance Holding A/S
PFA Asset Management A/S
PFA DK Boliger Hoj A/S
PFA DK Boliger Lav A/S
PFA Ejendomme Hoj A/S
PFA Ejendomme Lav A/S
PFA Europe Real Estate High A/S
PFA Europe Real Estate Low A/S
PFA Europe Real Estate Medium A/S
PFA Kapitalforening
PFA Kollegier ApS
PFA US Real Estate Medium P/S
Competencies:
Broad knowledge of financial institutions (including banking), credit, investment, finance, regulation and financial risk management.
Member
Executive Chairman & Partner Christian Frigast
Date of birth: 23 November 1951
Nationality: Danish
Considered to be an independent board member
Elected to the Board of Directors on 15 November 2016
Appointed by Axcel
Other directorships:
Chairman of the Board of Directors:
Axcel Management
Danish Ship Finance Holding A/S
EKF (Denmark’s Export Credit Agency)
The Board Leadership Society in Denmark
Axcelfuture, Axcel’s think tank
Vice Chairman of the Board of Directors:
PANDORA
PostNord
DVCA (Danish Venture Capital end Private Equity Association)
Axcel Advisory Board
Member of the Board of Directors:
Nissens A/S
Associate professor at CBS (Copenhagen Business School)
Competencies:
Broad knowledge of banking, finance, financial risk management, management of international companies, M&A, restructuring, operational efficiency and value proposition strategies.
Member
CEO Jacob Meldgaard
Date of birth: 24 June 1968
Nationality: Dansk
Considered to be an independent board member
Elected to the Board of Directors on 16 June 2017
Appointed by Danish Ship Finance Holding A/S
Other directorships:
Member of the Board of Directors:
Danish Shipping (Danske rederier)
Syfoglomad
TORM plc
TORM A/S
TORM Singapore Pte. Ltd.
TORM Fonden
Long Range 2 A/S
FR8 Holdings Pte. Ltd.
OCM Holdings MRs Ltd.
Competencies:
Broad experience concerning shipping and the maritime industry, management, investment, finance and restructuring of operations.
Member
Management Executive Michael Nellemann Pedersen
Member of the Audit Committee
Date of birth: 8 July 1961
Nationality: Danish
Considered to be an independent board member
Elected to the Board of Directors on 15 November 2016
Appointed by PKA
Other directorships:
Directorships and executive positions:
Management Executive of:
Property companies owned by the three pension funds managed by PKA A/S
Ejendomsselskabet Dronningegarden
OPP HoldCo ApS
A/S Kjøbenhavns Ejendomsselskab
Forstædernes Ejendomsaktieselskab
Chairman/member of Advisory Board and investment committees of various foundations relating to private equity, infrastructure and micro finance due to PKA’s investment in such foundations
Member of the Board of Directors:
Danish Ship Finance Holding A/S
Refshaleøen Holding A/S
Refshaleøens Ejendomsselskab A/S
Margretheholmen P/S
Komplementarselskabet Margretheholm ApS
PKA Skejby Komplementar ApS
PKA Skejby P/S
Hotel Koldingfjord A/S
Fonden Dansk Sygeplejehistorisk Museum
Poppelstykket 12 A/S
P/S PKAE Ejendom
Komplementarselskabet PKA AE ApS
SAS Pilot & Navigators Pension Fund
Investeringsselskabet af 24. februar 2015 A/S
Tuborg Havnevej I/S
PKA Ejendomme I I/S
PKA Ejendomme af 2013 I/S
PKA Projektselskab I/S
Brokvarteret P/S
P/S Tranders Høje
Investeringsselskabet af 4. juli 2018 ApS
Institutional Holding GP ApS
Institutional Holding P/S
PKA Ejendomme af 2012 I/S
DEAS Invest I A/S
DEAS Invest I Holding A/S
Competencies:
Broad knowledge of financial institutions (including pension fund operations), credit, investment, finance, regulation and financial risk management.
Member
CEO Henrik Sjøgreen
Date of birth: 30 July 1964
Nationality: Danish
Considered to be an independent board member
Elected to the Board of Directors on 15 November 2016
Appointed by Danish Ship Finance Holding A/S
Other directorships:
Chairman of the Board of Directors:
FIH Partners A/S
Simon Fougner Hartmanns Fund
CEO of FIH A/S
CEO FIH Holding A/S
Competencies:
Broad knowledge of banking, credit, insurance and finance, financial risk management, debt markets and general management.
Member
Senior Relationship Manager Marcus F. Christensen
Date of birth: 20 November 1979
Nationality: Danish
Elected to the Board of Directors on 29 March 2012
Competencies:
Broad knowledge of credit granting, ship financing and handling of problem loans through his position as Senior Relationship Manager with Danish Ship Finance A/S.
Member
Head of Innovation and Research Christopher Rex
Date of birth: 28 January 1979
Nationality: Danish
Elected to the Board of Directors on 29 March 2012
Competencies:
Broad knowledge of macroeconomics, financial risk management and international shipping through his position as Head of Research with Danish Ship Finance A/S.
Member
Senior Relationship Manager Henrik R. Søgaard
Date of birth: 9 February 1959
Nationality: Danish
Elected to the Board of Directors on 24 April 2008
Competencies:
Broad knowledge of credit granting, ship financing and handling of problem loans through his position as Senior Relationship Manager with Danish Ship Finance A/S.
Member
Thor Jørgen Guttormsen
Date of birth: 5 January 1949
Nationality: Norwegian
Considered to be an independent board member
Elected to the Board of Directors on 16 June 2017
Appointed by Danish Ship Finance Holding A/S
Other directorships:
Member of the board of directors of Høeg Autoliners Holding AS
Member of the board of directors of Høeg LNG AS
Member of the board of directors of Høeg LNG Holdings Ltd (alternate)
Member of the board of directors of Telenor Maritime AS
Member of the board of directors of Aequitas Ltd
Competencies:
Broad experience concerning shipping and the maritime industry.
Audit Committee
Danish Ship Finance has set up an audit committee consisting of members of the Board of Directors. In composing the audit committee, the company has ensured that the chairman of the Board of Directors does not act as the chairman of the audit committee. It has also been ensured that the committee has professional capabilities and experience in financial matters and in finance and accounting.
The audit committee consists of Group CFO Anders Damgaard, CFO & Partner Peter Nyegaard og Management Executive Michael Nellemann Pedersen and CEO Henrik Sjøgreen. Anders Damgaard (chairman), who is the independent member with competencies in finance and accounting, qualifies by being the Group CFO in PFA.
The duties of the audit committee are defined in the terms of reference of the audit committee. The audit committee is to assist the Board of Directors in:
- Monitoring the financial reporting process
- Monitoring the efficiency of the company's internal control system and risk management systems
- Monitoring the audit of the annual report
- Monitoring and verifying the independence of the auditors
The audit committee is thus a preparatory and monitoring body. The audit commit-tee holds ordinary meeting three times a year, of which two meetings are prior to the presentation of the annual and half-yearly report. The committee reports to the Board of Directors, and minutes of the committee’s meetings are discussed at the first-coming ordinary board meeting.
Remuneration Committee
The Remuneration Committee operates as a preparatory committee for the Board of Directors with respect to matters concerning remuneration with focus on the remuneration of members of the Board of Directors, the Executive Board, material risk takers and other employees.
The Remuneration Committee monitors trends in salary and bonus policies and practices. It monitors the incentive programmes to ensure that they promote ongoing, long-term value creation as well as compliance with the Remuneration Policy.
The members of the Remuneration Committee are Eivind Kolding (chairman), Christian Frigast and Thor Jørgen Guttormsen.