Board of Directors

In compliance with Flüggers regulations, excluding employee representatives, the Board of Directors consists of at least three and no more than eight shareholder-elected board members, who are elected for one year. Retiring members may be reappointed.

In Flügger it is standard procedure to have four shareholder-elected board members and two employee representatives on the board. Flügger strives to have a board with two or three members of the shareholder-elected board members, who are independent from the company, the majority shareholder and significant supplier interests or customer interests – and that a member of the board represents the majority shareholder. The total remuneration to the board is disclosed in the annual report under notes.

The board consists of:

Peter Korsholm (Chairman) – elected at General Meeting (independent)
Jimmi King Mortensen (Deputy Chairman) – elected at General Meeting
Kim Balle – elected at General Meeting (independent)
Bettina Antitsch Mortensen – elected at General Meeting
Dorthe Laursen – Employee Representative
Mikkel Boelskifte – Employee Representative

Audit Committee

The Board of Directors of Flügger has set up an Audit Committee which holds four meetings a year and comprises the following members:

Kim Balle (chairman, independent board member)
Jimmi King Mortensen

The purpose of the Audit Committee is to monitor the financial reporting process, including monitoring compliance with applicable legislation, standards and other regulations governing listed companies as this relates to the presentation of the financial statements and the publication of financial reporting, as well as to assess the need for internal audits.

Nomination and Remuneration Committee

The Board of Directors of Flügger has set up a combined Nomination and Remuneration Committee which holds at least one meeting a year and comprises the following members:

Ulf Schnack (chairman, director)
Peter Korsholm
Kim Balle

The purpose of the Nomination and Remuneration Committee is to nominate and recommend candidates for the Board of Directors, to help ensure a composition of members according to specified criteria, to ensure compliance with the remuneration policy and general guidelines for incentive pay and to submit proposals for the remuneration of the Board of Directors and the Executive Board.

Peter Korsholm, Chairman, independent

Peter Korsholm, Chairman, independent

Born in 1971, joined the Board of Directors of Flügger in 2022.

Qualifications: Experience with logistics and e-commerce, i.a. from board work and investment in Lomax A/S and Unisport A/S as well as specifically logistics from GDL Transport AB and DANX A/S Group. Extensive experience in M&A from his time as a partner in and head of EQT Partners Denmark as well as from private investments. In addition, experience with financial reporting, risk management and capital markets from a position as group finance director at AAK AB and board member and Audit and Risk Committee member at Ørsted A/S.

Substantial knowledge of sustainability work and the green transition through his position as board member in Ørsted A/S and the group of Too Good To Go as well as being a former board member in RGS Nordic A/S.

Education: MBA from Insead, MSC Econometrics and mathematical economy from London School of Economics, BA in Economy from the University of Copenhagen.

Holding of Flügger shares: Togula ApS has 50.000 shares.

Other management positions: CEO: DSVM Invest A/S, DSV Miljø Group A/S, Togula ApS and Totalleverancer Sverige AB. Chairman of the Board of Directors: Too Good To Go Holding ApS, Too Good To Go ApS, Nymølle Stenindustrier A/S, Lion Danmark I ApS and two fully-owned subsidiaries of Lion Danmark I ApS (Lomax group) as well as United Fintech. Member of the Board of Directors: Ørsted A/S, DVSM Invest A/S and 9 fully-owned subsidiaries as well as Bella Group A/S and two fully-owned subsidiaries.

Jimmi King Mortensen, Vice Chairman, non-independent

Born in 1974, joined Flügger Board of Directors in 2021.

Qualifications: Thorough knowledge of Flügger i.a. through his position as CEO in Flügger group A/S from 2016 to 2021. +20 years of C-level experience from commercial and CEO positions in larger international cooperations.

Gained considerable knowledge of environmental sustainability through his duty as CEO in Actona Group via Actona’s Science Based Target initiative’s verified reduction targets.

Education: MBA Henley Business School, Harvard, Stanford & INSEAD Executive Programme, HD-A Aarhus University.

Holding of Flügger shares: 4.261

Other management positions: CEO in Actona Group A/S (from April 2021). Chairman of the board of directors in Sits sp. Z.o.o. and Liewood A/S. Member of the Board of Directors in Liewood A/S, Mads Eg Damgaards Familiefond and MEDF Holding A/S.

Bettina Antitsch Mortensen, non-independent

Born in 1978, joined the Board of Directors of Flügger in 2022.

Qualifications: Has great market insight in the construction and real estate industry through her ownership and management positions in the M+ group, which i.a. includes Hybel og M+ Ejendomme. Has in addition a broad legal experience from her background as a commercial lawyer as well as subsequent long career as a defense lawyer with the right to appear before The Supreme Court of Denmark.

Through Betinna Antitsch Mortensen’s perennial positions in the construction and real estate industry, she has gained experience regarding the documentation requirements, particularly in connection with construction.

Education: Master of law, experienced lawyer with the right to appear before The Supreme Court of Denmark, CBS Executive board education.

Holding of Flügger shares: M+ II A/S has 851.487 shares (major shareholder).

Other management positions: Chairman of the Board of Directors in M+ Invest A/S as well as 7 subsidiaries, M+ Ejendomme A/S as well as 6 subsidiaries, M+ II A/S, Hybel Danmark A/S as well as 5 subsidiaries, Stenhøj Husene Holding A/S as well as 4 subsidiaries, MPP Holding I A/S as well as 4 subsidiaries and Won Holding ApS as well as 1 subsidiary. Member of the Board of Directors in 4 subsidiaries to M+ Invest A/S, 10 associated companies of M+ Invest A/S as well as Ejendomsselskabet in Houmannsgade ApS. Director in F.M. 16 Holding ApS, FM 09 Holding ApS, Hybel M.K.P. Holding ApS, Hybel M. S. Holding ApS, RM 07 Holding ApS and FRB 20 Holding ApS.

Kim Balle, independent

Born in 1968, joined the Board of Directors of Flügger in 2021.

Qualifications: Has through his many years of experience from leading positions in Danish business community worked with e.g. financial management, Governance & Compliance, Corporate Strategy, M/A, IT & Business Transformation, BI & Artificial Intelligence and business development.

In his position as CFO in TORM A/S, Kim Balle has over the recent years worked intensively with the implementation of e.g. CSED, EU Taxonomy and in addition the general commercial and operational work with sustainability in the company.

Education: Bank educated, HD-F Aarhus University, Executive MBA from Copenhagen Business School, Harvard & Oxford University Executive Programmes, IMD Executive Programmes and Cyber Security programme at Copenhagen Business School.

Holding of Flügger shares: 0.

Other management positions: Chief Financial Officer in TORM A/S. Chairman of the Board of Directors in TORM A/S and TORM Fonden as well as member of the Board of Directors in Nordea Invest, Lind Capital A/S and Liewood A/S. Additionally director in Kim Balle Holding ApS.

Dorthe Laursen

Employee Representative

Born in 1963, joined Flügger Board of Directors in 2023.

Payroll and ER Lead in People, Communications and Culture.

Qualifications: Solid experience within Flügger with experience from 1986. Dorthe has insight about how initiatives and new work processes affect the organization. M

Flügger shares: 0

Mikkel Boelskifte

Employee Representative

Born in 1983, joined Flügger Board of Directors in 2023.

Country Manager for Flügger Danmark and PP Professional Paint.

Qualifications: Broad knowledge of the business through many years of experience in different positions in Flügger: Regional Manager - Flügger, Sales Manager Professional - PP Professional Paint and latest Country Manager for Flügger Danmark and PP Professional Paint.

Flügger shares: 107