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 eight by the municipalities. The normal term of office for the directors is six years. The Board of Directors normally meets four times a year.

The following are the current Board of Directors:

• Mr. Erik Fabrin, Mayor, Rudersdal, Chairman
• Mr. Henning G. Jensen, Mayor, Aalborg, Vice-Chairman 
• Ms. Vibeke Storm Rasmussen, Region Council Chairman, Capital Region
• Mr. Hans Toft, Mayor, Gentofte
• Mr. Henrik Zimino, Mayor, Tårnby
• Mr. Kaj Petersen, Councilmember and Former Mayor, Guldborgsund
• Mr. Anker Boye, Mayor, Odense
• Mr. Lars Krarup, Mayor, Herning
• Ms. Mariann Nørgaard, Alderman, Aalborg
• Mr. Aleksander Aagaard, Region Councilmember, Midtjylland Region

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. Søren Høgenhaven, Chief Executive Officer and Managing Director
• Mr. Johnny Munk, Managing Director

The Board of Directors appoints one or two auditors approved by the Ministry of the Interior and Health, at least one of whom must be a state-authorised public accountant. A further auditor is appointed by the Ministry of the Interior and Health 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 the Interior and Health. The present auditors are Mr. Lars Rhod Søndergaard and Mr. Torben Bender (state-authorised public accountants) of KPMG and Mr. Emil le Maire, Ex-Prefect, appointed by the Ministry of the Interior and Health.

---

Get more information at Management