Danish Crown votes for a limited company

by Editor fleischwirtschaft.com
Tuesday, October 19, 2010

Danish Crown’s Board of Representatives voted massively in favour of the formation of a limited company.

In practice, the decision made does not entail any changes for the company’s owners. What it means is simply that the cooperative will establish a limited company which will be wholly owned by the cooperative. The limited company will thus not replace the cooperative in any way, explains Niels Mikkelsen, Chairman of the Board of Directors of Danish Crown.

The proposal has been debated by members since February this year when it was presented at a meeting of the Board of Representatives. Since then, it has been on the agenda of all meetings of the Board of Representatives, and it was also debated at this summer’s meetings for members across the country, culminating in today’s decision to establish Danish Crown A/S.

It was a question of ensuring that Danish Crown has the tools which will be needed in the long term to fulfil the growth strategy adopted by the Board of Representatives, Niels Mikkelsen said. Initially, one had decided to set up a limited company, which will open up other options in the longer term. However, these are options which must now be analysed in greater detail. These options must be discussed with members, and will also have to be adopted by the Board of Representatives, Mikkelsen went on.