Board of Directors

Solar’s Board of Directors is made up of six member elected by the Annual Meeting and three employee-elected members.

Jointly, the Board of Directors and the Executive Board, comprised of our CEO and CFO, are responsible for the overall and strategic management of the Solar Group.

On the whole, the Board of Directors must comprise the following expertise to enable it to perform its management duties:
• Experience of board of directors' work
• Top-level management experience
• International experience
• Knowledge of the circumstances of listed companies
• Knowledge of the wholesale trade
• Economic and financial knowledge
• Experience of acquisitions and divestments
• Experience of business development
• Knowledge and experience of IT, supply chain, HR and lean

For more information on our individual members of the Board of Directors, please see below.

    Jens Borum (born 1953, joined 1982)

CHAIRMAN

Associate professor, University of Copenhagen.
M.Sc. 1980, PhD 1985.
Member of the Board of Directors of the Fund of 20th December.

Represents the Fund of 20th December and has long-time experience as chairman.

Remuneration 2015: DKK 637,500.
Holds 6,900 Solar A shares and 118,520 Solar B shares. Has not traded Solar shares in 2015.

     

Agnete Raaschou-Nielsen (born 1957, joined 2012)

VICE CHAIRMAN

MSc in economics (1985) and PhD in economics (1988).
Chairman of the boards of directors of Brødrene Hartmann A/S and Arkil Holding A/S.
Vice chairman of the boards of directors of Dalhoff Larsen og Horneman A/S, the unit trusts Danske Invest, Danske Invest Select, Profil Invest, ProCapture and the capital trusts Danske Invest Institutional and AP Invest.
Member of the boards of directors of Novozymes A/S, Aktieselskabet Schouw & Co., Icopal Holding A/S plus two subsidiaries and Danske Invest Management A/S.

Represents managerial experience of production and service businesses with strong international relations and has deep knowledge of production, supply chain, sales and marketing.

Remuneration 2015: DKK 400,000.
Holds no Solar shares.

 
  Lars Lange Andersen (born 1968, joined 2010)

EMPLOYEE-ELECTED MEMBER

Sales Manager.

Remuneration 2015: DKK 162,500.
Holds 93 Solar B shares. Has not traded Solar shares in 2015.

     
  Niels Borum (born 1948, joined 1975)

M.Sc. in engineering 1973.
Chairman of the Board of Directors of the Fund of 20th December.

Represents the Fund of 20th December and has experience of IT and processes.

Remuneration 2015: DKK 250,000.
Holds 6,900 Solar A shares and 89,539 Solar B shares. Has not traded Solar shares in 2015.

     
 

Ulrik Damgaard (born 1973, joined 2014)
EMPLOYEE-ELECTED MEMBER

Market Manager.

Remuneration 2015: DKK 162,500.
Holds 60 Solar B shares. Has not traded Solar shares in 2015.

     
  Bent H. Frisk (born 1961, joined 2006)

EMPLOYEE-ELECTED MEMBER

Central Warehouse Manager.

Remuneration 2015: DKK 162,500.
Holds 60 Solar B shares. Has not traded Solar shares in 2015.

     
  Ulf Gundemark (born 1951, joined 2014)

Holds an electrical engineering degree (1975) and has since gotten supplementary education at, among others, IFL and INSEAD.
Chairman of the board of directors of Nordic Waterproofing Holding A/S.
Member of the boards of directors of Papyrus AB, Constructor Group AS, Lantmännen Ekonomisk Förening, Scandi Standard Group AB and AQ Group AB.

Represents managerial experience from global and local businesses and holds significant knowledge of the trade and markets.

Remuneration 2015: DKK 250,000.
Holds 1,500 Solar shares purchased in 2015.

     
  Jens Peter Toft (born 1954, joined 2009)

CED of Selskabet af 11. december 2008 ApS and one subsidiary hereof.
B.Com. Management Accounting 1983, the Executive Program, University of Michigan Business School.
Chairman of the boards of directors of Mipsalus Holding ApS and one subsidiary hereof.
Vice chairman of the board of directors of M. Goldschmidt Holding A/S.
Member of the boards of directors of Bitten og Mads Clausens Fond, the unit trusts Danske Invest, Danske Invest Select, Profil Invest, Procapture and the capital units Danske Invest Institutional and AP Invest, Civilingeniør N.T. Rasmussens Fond, Enid Ingemanns Fond, Fondet for Dansk Norsk Samarbejde, six subsidiaries of M. Goldschmidt Holding A/S, Dansk Vækstkapital II and Selskabet af 11. december 2008 ApS.
Member of the investment committee of GRO Capital.

Represents experience of capital market transactions, financial matters, investments, organisation, general management and stock exchange matters.

Remuneration 2015: DKK 400,000.
Holds 1,250 Solar B shares. Has not traded Solar shares in 2015.

     
  Steen Weirsøe (born 1948, joined 2013)

MSc in Economics & Business Administration 1973.
Member of the board of directors of Larsen og Ibsen HoldingA/S.

Represents wide managerial and international experience and considerable experience and knowledge of retail and wholesaling related to the construction industry.

Remuneration 2015: DKK 250,000.
Holds 1,000 Solar B shares. Has not traded Solar shares in 2015.

 

Board of Directors' affiliation with Solar
Ulf Gundemark, Steen Weirsøe, Agnete Raaschou-Nielsen and Jens Peter Toft are independent of the company pursuant to the definition in the recommendations on corporate governance in Denmark. Jens Borum and Niels Borum are affiliated with the Fund of 20th December, which is the majority shareholder in Solar A/S. Agnete Raaschou-Nielsen and Jens Peter Toft are members of the Audit Committee together with Chairman of the Board of Directors Jens Borum. Jens Peter Toft chairs the Audit Committee and has special accounting qualifications.

Election of employee representatives
The most recent ordinary election of employee representatives took place electronically on 17-27 March 2014. The participation rate in the election was 57.3%. Under the law, employee representatives have the same rights, duties and responsibilities as the other members of the board. Under Danish law, employees have the right to elect a number of representatives and alternates, corresponding to half of the representatives elected by the annual general meeting at the time of calling the election of employee representatives.

Election period
All board members elected at the annual general meeting are up for election each year, whereas employee representatives are elected by and among the company’s employees for four-year terms.