Johannesen leaves the board of HK Ruokatalo

by Editor
Thursday, March 29, 2007

Kjeld Johannesen, CEO of Danish Crown, has decided to step down from his seat at the board of HK Ruokatalo after the General Assembly in April.

The decision has been made in understanding with HK Ruokatalo, as a consequence of the HK Ruokatalo purchase of Swedish Meat.

Except for the joint venture in Poland, Danish Crown and HK Ruokatalo have been competitors all along, Johannesen said. However, due to the Finnish acquisition of Swedish Meats, the competition has now become more visible at the mutual strategic markets. In order to avoid any conflicts of interest, he has therefore found it natural to leave the Board of HK.

Danish Crown recently sold most of the company’s shares in HK Ruokatalo and now holds 1% of the shares.

The joint venture between HK Ruokatalo and Danish Crown in Poland will continue unchanged.