Board of Directors

The Board of Directors of Danish Ship Finance has nine members. Six are elected by the shareholders in the general meeting, and three 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 Axcel, PFA and PKA

Other directorships:
Chairman of the board of directors of CASA A/S
Chairman of the board of directors of Kunstforeningen Gl. Strand
Member of the board of directors of NNIT A/S

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 from previous positions as Group CFO and shipowner with A.P. Møller – Mærsk, CEO of Danske Bank and former vice chairman (now chairman) of Danish Ship Finance A/S.

 

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 the board of directors 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 from existing position as chairman of FIH A/S and previous positions as Executive Vice president of Nordea Bank AB and chairman of Nordea Bank Danmark A/S.

 

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:
Chairman of the board of directors of PFA Asset Management A/S
Chairman of the board of directors of PFA Ejendomme A/S
Chairman of the board of directors of PFA Kapitalforening and various property companies within the group
Chairman of the board of directors of Danish Ship Finance Holding A/S
Chairman of the board of directors of Blue Equity Management A/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 of Axcel Management
Chairman of the board of directors of Danish Ship Finance Holding A/S
Chairman of the board of directors of EKF (Denmark’s Export Credit Agency)
Chairman of the board of directors of Axcel’s think tank Axcelfuture
Vice chairman of the board of directors of PANDORA
Vice chairman of the board of directors of DVCA (Danish Venture Capital end Private Equity Association) 
Vice chairman of the board of directors of Axcel Advisory Board
Member of the board of directors of Nordic Waterproofing
Member of the board of directors of The Denmark-America Foundation
Member of the board of directors of The Board Leadership Society in Denmark
Associate professor at CBS (Copenhagen Business School)

Competencies:
Broad experience from (listed) companies serving as chairman, vice chairman and member of the board of directors and on various board committees. Highly experienced in leading successful business transformations in various industries, ownership structures, company sizes and strategies. Experience in 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 Axcel, PFA og PKA

Other directorships:
Member of the board of directors of Danish Shipowners’ Association
Member of the board of directors of The Danish Maritime Fund
Member of the board of directors of Syfoglomad.
Member of the board of directors of TORM Plc.
Member of the board of directors of TORM Fonden

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:
Management Executive of Property companies owned by the three pension funds managed by PKA A/S
Management Executive of A/S Kjøbenhavns Ejendomsselskab
Management Executive of Forstædernes Ejendomsaktieselskab
Chairman/member of Advisory Board and investment committees in various foundations relating to private equity, infrastructure and micro finance due to PKA’s investment in such foundations
Member of the board of directors of Danish Ship Finance Holding A/S
Member of the board of directors of PKA Pensions Forsikringsselskab A/S
Member of the board of directors of Refshaleøen Holding A/S
Member of the board of directors of Refshaleøens Ejendomsselskab A/S
Member of the board of directors of PKA AIP A/S
Member of the board of directors of PKA Alternative Investments ApS
Member of the board of directors of Margretheholmen P/S
Member of the board of directors of Komplementarselskabet Margretheholm ApS
Member of the board of directors of PKA Skejby Komplementar ApS
Member of the board of directors of PKA Skejby P/S
Member of the board of directors of Hotel Koldingfjord A/S
Member of the board of directors of Poppelstykket 12 A/S
Member of the board of directors of P/S PKA Ejendom

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 PFA

Other directorships:
Chairman of the board of directors of FIH Partners A/S
Chairman of the board of directors of FIH II A/S
Chairman of the board of directors of Simon Fougner Hartmanns Fund
Member of the board of directors of LFM Invest 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 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 Axcel, PFA og PKA

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. Highly experienced in leading a shipping company, latest Høegh & Co. Former President of The Norwegian Shipowners’ Association and a board member of The European Community Shipowners’ Associations (ECSA) and Bimco.

 

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. 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) and Henrik Sjøgreen.

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