Danish Crown board to form limited company
October 18, 2010
by Meat&Poultry Staff
RANDERS, DENMARK – On Oct. 13, Danish Crown’s Board of Representatives voted overwhelmingly in favor of forming a limited company.
“In practice, the decision made [Oct. 13] does not entail any changes for the company’s owners,” said Niels Mikkelsen, chairman of Danish Crown. “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.”
Since February this year, the proposal has been debated by members 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 is a question of ensuring that we have the tools which will be needed in the long term to fulfill the growth strategy adopted by the Board of Representatives,” Mikkelsen said. “Initially, we have 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 analyzed in greater detail. These options must be discussed with members, and will also have to be adopted by the Board of Representatives.