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 term of office for the Board of Directors is four years. The Board of Directors normally meets four times a year.

KommuneKredit’s management board 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 board is authorised to make all decisions relating to the daily business.

 

The following are the members of the Management Board:

 

• Mr. Jens Lundager, Chief Executive Officer and Managing Director
• Mr. Henrik Andersen, Managing Director

KommuneKredit is subject to financial supervision by the Danish Financial Supervisory Authority. Furthermore, the minister for Industry, Business and Financial Affairs has appointed an auditor, who is to oversee that KommuneKredit’s lending is in accordance with current rules on local government borrowing and the delimitation of KommuneKredit’s customer group laid down in Danish legislation.

Since 1 January 2023, Per Hansen, chief adviser on legal affairs, has been the appointed auditor.