Solar Group Management is made up of the Executive Board, our Senior Vice Presidents and the Managing Directors of the group subsidiaries. Furthermore, we have a Board of Directors that is made up of nine members. You can see them all here below.
Our Board of Directors is made up of six members elected by the Annual Meeting and three employee-elected members
About the Board of Directors
Jointly, the Board of Directors and the Executive Board, comprised of our CEO, CCO 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
Board of Directors' affiliation with Solar
Louise Knauer, Ulf Gundemark, and Jens Peter Toft are considered independent from the company by the definition in the Danish corporate governance recommendations. Jesper Dalsgaard, Jens Borum and Niels Borum are affiliated with the Fund of 20th December, which is the majority shareholder of Solar A/S. Jens Peter Toft and Jesper Dalsgaard are members of the Audit Committee together with the Chairman of the Board of Directors Jens Borum. Jens Peter Toft chairs the Audit Committee and has special accounting qualifications. Ulf Gundemark, Jens Borum and Jens Peter Toft are members of the Remuneration Committee.
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.
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.