North Media changing management structure to boost management power
Announcement no. 15-2022
30 March 2022
North Media announces changes to its management structure intended to ensure faster decision-making processes, more homogeneous strategic execution and stronger coherence across the Group. The parent and subsidiary boards have all been reduced. Effective from 2 April 2022, the Group Executive Board will be reduced from five to three members and gain a more powerful position in the Group.
North Media announces the following changes to the Group Executive Board:
Lasse Ingemann Brodt, CEO of the subsidiary FK Distribution and a member of the Group Executive Board since 2018, is appointed new CEO of North Media. Kåre Stausø Wigh, who has served as both Group Executive Director and CFO since 2016 will continue as CFO. Lastly, Lisbeth Britt Larsen will join the Group Executive Board as Group CHRO. Lisbeth Britt Larsen joined FK Distribution in 2010, and for the last two years, she has served as Group Head of HR.
Accordingly, the Group Executive Board consists of the following members effective from 2 April 2022:
Lasse Ingemann Brodt, CEO
Kåre Stausø Wigh, CFO
Lisbeth Britt Larsen, Group CHRO
Lasse Ingemann Brodt will continue to serve as CEO of FK Distribution.
Henrik Løvig Jensen, Group Director, Acquisitions and Business Development, has resigned his position and will step down from the Group Executive Board effective on 2 April. Henrik Løvig Jensen has agreed to continue to solve ongoing assignments for the next six months, after which time he will leave North Media.
Jannik Bray Christensen also steps down from the Group Executive Board effective on 2 April, but will stay on as CEO of the subsidiary Bekey.
Under North Media’s existing organisational structure, the managements of the wholly-owned subsidiaries have for an extended period each reported to an independent board consisting of individuals who also served as the Board of Directors of North Media. In addition, four of the executives of the subsidiaries also served on the Group Executive Board.
The changes made to the Group Executive Board is the latest initiative made to create a faster, simpler and more dynamic process in which board and executive board meetings will be more focused on the individual companies and relevant areas of responsibility. This shortens the route to decisions, both in the subsidiaries and in the parent company. At the annual general meeting held on 25 March 2022, the Board of Directors of North Media was reduced from seven to five members. In February 2022, the boards of the wholly-owned subsidiaries were reduced to have three members each. The changes add both strength and clarity to the role of the Group Executive Board.
A new addition to the Group Executive Board of the parent company is its first CHRO. Growth at North Media is based on a strong infrastructure. Our 10,000 plus employees all know their responsibilities and tasks. So, anchoring the very important HR function in the Group Executive Board makes perfect sense. Each of the three members of the Group Executive Board have clearly defined areas of responsibility. Business development as well as any acquisitions will still be handled by the parent company, but the relevant subsidiaries will have a more active role in implementing and executing transactions.
Ole Borch, Chairman of the Board of Directors: “The operating companies of the North Media Group are high-volume businesses. High-volume businesses require a constant focus on infrastructure management at all levels, from the most senior executive to the most junior staff member. The main responsibility of the new Group Executive Board will be to ensure that the Group’s companies are run and developed even more diligently according to uniform principles with the focus on volume, quality, growth and value creation.
The new management infrastructure will strengthen our strategic business development and execution, and promote continued value creation based on the strong core values of the North Media Group. Our subsidiaries will now have even faster decision-making processes attuned to their individual conditions. Everyone in the management tiers will be able to focus on the areas of responsibility assigned to them. We who serve on the boards will be able to focus on general and strategic management, while still being able to monitor operations closely.”
Ole Borch continues: “I would like to take this opportunity to thank Henrik Løvig for his dedicated efforts over many years to the Group. Henrik deserves huge credit for the added strength our digital businesses have accumulated in recent years. We’re very pleased that Henrik will stay on as our representative and board chairman of Lead Supply.”
CV information on the new member of the Group Executive Board is available at https://www.northmedia.dk/om-north-media/ledelsen/.
For further information, please contact:
Ole Borch, Chairman, tel. +45 25 18 35 55, or by e-mail: OBO@northmedia.dk
North Media develops and operates platforms for transactions that bring businesses and consumers together. These platforms help consumers find the right products, whether they are looking for groceries, rental housing, jobs or digital access management solutions. North Media has two core business areas: Last Mile: FK Distribution is Denmark’s leading distributor of leaflets and local newspapers; it runs the digital platform ‘minetilbud’ and provides logistics services. Digital Services: Three businesses with the potential for double-digit growth, rising earnings and scalability: BoligPortal is Denmark’s leading home rentals platform, offering services to both landlords and tenants. Ofir is Denmark’s most comprehensive jobs universe. Bekey delivers digital access solutions for secured stairwells and private homes for the use of homecare services and companies delivering parcels, groceries, meal services, etc.
This document is an unofficial translation of the Danish original. In the event of any inconsistencies, the Danish version shall apply.
