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.

Board of Directors

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Lars Krarup, Chairman

Town Councillor and former Mayor, Municipality of Herning

Election period 2018-2022

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Thomas Lykke Pedersen, Vice-Chairman

Mayor, Municipality of Fredensborg

Election period 2018-2022

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Martin Geertsen

Regional Council Member, Capital Region of Denmark

Election period 2018-2022

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Kaj V. Holm

Independent member

Election period 2018-2022

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Mikael Klitgaard

Mayor, Municipality of Brønderslev

Election period 2018-2022

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Erik Lauritzen

Mayor, Municipality of Sønderborg

Election period 2018-2022

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Leila Lindén

Regional Council Member, Capital Region of Denmark

Election period 2018-2022

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Erik Nielsen

Municipal Council Member and former Mayor, Municipality of Rødovre

Election period 2018-2022

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Hans Toft

Municipal Council Member and former Mayor, Municipality of Gentofte

Election period 2018-2022

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Birgit Aagaard-Svendsen

Independent member

Election period 2020-24

Management Board

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

Supervision

As of 27 June 2019, the field of responsibility for the supervision of KommuneKredit changed from the Ministry for Economic Affairs and the Interior to the Ministry of Industry, Business and Financial Affairs. This is merely a change of the field of responsibility.

 

An auditor is appointed by the supervisory authority and is responsible for making sure that KommuneKredit operates within relevant legal and regulatory constraints applicable to KommuneKredit, in particular, that lending happens in accordance with the relevant rules applicable to municipalities and regions. Thorkil Juul, former Director General was appointed by the Ministry for Economic Affairs and the Interior as of 1 January 2018 and until the end of 2022.

 

The Board of Directors appoints one or two auditors who shall be state authorised public accountants. The auditors for 2021 were Deloitte Statsautoriseret Revisionspartnerselskab, represented by State Authorised Public Accountant Anders Oldau Gjelstrup and State Authorised Public Accountant Jens Ringbæk.