Allan Søgaard Larsen to step down as CEO of Falck
The board of directors of Falck A/S today entered into an agreement with Chief Executive Officer Allan Søgaard Larsen that he will step down as CEO of Falck. The chairman of the board of directors in Falck, Peter Schütze, states that the board finds it adversary, in the current situation where the company experiences a number of challenges in several business areas, that Allan Søgaard Larsen is both CEO while also a significant shareholder.
Allan Søgaard Larsen owns more than 10 percent of the shares in Falck A/S together with Deputy CEO Morten R. Pedersen through the company Liberatio A/S. Lundbeckfonden, KIRKBI and TryghedsGruppen own the remaining shares.
The board of directors will now initiate a search for a new CEO. Meanwhile, Deputy CEO Morten R. Pedersen will manage the company in close collaboration with the chairman of the board. Morten R. Pedersen resigns at the end of 2017. Furthermore, Allan Søgaard Larsen will be available to the board until the new CEO has been appointed.
”The board of directors believes that the decision to find a new CEO will ensure a more straight division of tasks between the shareholders of Falck and the Executive Management,” said Peter Schütze, chairman of the board. He continues:
”It is the board’s view that the current structure is an adversary mix of the roles of executive management and co-ownership. This structure was natural during Falck’s private equity ownership period, but the board now wishes the governance relations in Falck to be normalized.”
Allan Søgaard Larsen and Morten R. Pedersen take note of the board’s decision:
”We recognize the governance issue and we recognize that we inherently constitute a very independent executive board due to our ownership. However, we do not agree with the board’s decision, but we take note of it,” said Allan Søgaard Larsen.
Peter Schütze states that both Allan Søgaard Larsen and Morten R. Pedersen are recognized for their strong contribution to the development of Falck.
”Allan Søgaard Larsen and Morten R. Pedersen have, since they were appointed the Executive Board in 2004, had a huge impact on Falck. They have been the key drivers of the development of the company,” said Peter Schütze.
Allan Søgaard Larsen looks back with pleasure:
”I have had almost 27 fantastic years with Falck, where the company has grown fourfold during my and Deputy CEO Morten R. Pedersen’s leadership. I am and always will be proud of what we have accomplished together with thousands of fabulous employees. I look forward to contributing to the continuing development of the company as an active part of the owners along with Morten R. Pedersen,” Allan Søgaard Larsen said.
At the same time he expresses a big thank you to Falck’s employees:
”I am going to miss the competent, dedicated and committed people working at Falck, people with whom I, ever since 1990 when I first joined the company, have been on an incredible journey. I know of no other company that has the spirit and is as close-knitted as Falck. It is quite unique. I wish all the best for Falck and all its employees in the future,” said Allan Søgaard Larsen.
Chairman of the board of directors Peter Schütze via Falck’s Group Communications, phone
+45 7022 0307
Allan Søgaard Larsen via Morten Jeppesen, PressConnect, phone +45 5385 0770