Governance

KommuneKredit is organised as an association, whose members are the local authorities which have loans or guarantees outstanding.

 

The members elect a Board of Directors to determine general policy and to approve major decisions. The Board of Directors has nine members of whom two are elected by the regions and six by the municipalities and one independent member. The normal term of office for the Board of Directors is four years. The Board of Directors normally meets four times a year.

 

The following are the current Board of Directors:

 

  • Mr. Lars Krarup, Mayor of the Municipality of Herning, Chairman
  • Mr. Thomas Lykke Pedersen, Mayor of the Municipality of Fredensborg, Vice-Chairman
  • Mr. Hans Toft, Mayor of the Municipality of Gentofte
  • Mr. Erik Nielsen, Mayor of the Municipality of Rødovre
  • Mr. Mikael Klitgaard, Mayor of the Municipality of Brønderslev
  • Mr. Erik Lauritzen, Mayor of the Municipality of Sønderborg
  • Mrs. Leila Lindén, Regional Council Member for The Capital Region of Denmark
  • Mr. Martin Geertsen, Regional Council Member for The Capital Region of Denmark
  • Mr. Kaj V. Holm, Deputy CEO of Øresundsbro Konsortiet, independent member

KommuneKredit’s management is headed by two managing directors, both of whom are appointed by the Board of Directors and one of whom is also Chief Executive Officer. The management is authorised to make all decisions relating to the daily business.

 

The following are the members of Management:

 

  • Mr. Jens Lundager, Chief Executive Officer and Managing Director
  • Mr. Henrik Andersen, Managing Director

 

The Board of Directors appoints one or two auditors approved by the Ministry of Economic Affairs and the Interior, at least one of whom must be a state-authorised public accountant. A further auditor is appointed by the Ministry of Economic Affairs and the Interior and is in particular responsible for checking that KommuneKredit operates within all relevant legal and regulatory constraints which include the requirement that quarterly summary management accounts be submitted to the Ministry of Economic Affairs and the Interior. The present auditors are Mr. Anders Oldau Gjelstrup and Mr. Bjørn Philip Rosendahl (state-authorised public accountants) of Deloitte, and Mr. Thorkil Juul appointee of the Ministry for Economic Affairs and the Interior.