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 ten members of whom two are elected by the regions and six by the municipalities, and the Board of Directors elect two independent members. 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
  • Mrs. Birgit Aagaard-Svendsen, 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

 

As of 27 June 2019, the field of responsibility for the supervision of KommuneKredit changed from the Ministry for Economic Affairs and the Interior to the Ministry of Industry, Business and Financial Affairs. This is merely a change of the field of responsibility.

 

An auditor is appointed by the supervisory authority and is responsible for making sure that KommuneKredit operates within relevant legal and regulatory constraints applicable to KommuneKredit, in particular, that lending happens in accordance with the relevant rules applicable to municipalities and regions. Emil le Maire retired from his position as of 31 December 2017 and, with effect from 1 January 2018, was replaced by Thorkil Juul, former Director General appointed by the Ministry for Economic Affairs and the Interior.

 

The Board of Directors appoints one or two auditors who shall be state authorised public accountants. The auditors for 2016 were Ernst & Young, Godkendt Revisionspartnerselskab, represented by Torben Bender and Hans Peter Lindegård Buhrkal (State Authorised Public Accountants). Ernst & Young, Godkendt Revisionspartnerselskab is a member of the “FSR – Danske Revisorer” (Association of State Authorised Public Accountants). At their meeting on 26 August 2016, the Board of Directors of KommuneKredit, decided to appoint Deloitte Statsautoriseret Revisionspartnerselskab, represented by State Authorised Public Accountant Anders Oldau Gjelstrup and State Authorised Public Accountant Bjørn Würtz Rosendal, as auditors to KommuneKredit from and including the financial year 2017 to and including the financial year 2020.