Board members in profile

Martin Rubæk Board member since 2022

I chose to become part of Verdo’s Supervisory Board because I find it very exciting to help shape Verdo’s future and contribute to setting the strategic direction. I work at Verdo Energy Systems, where I see how the market for energy plants is constantly changing. This applies to biomass, heat pumps, electricity and gas. Verdo faces some highly important and exciting choices about what future heating should be based on, and how we develop our business further.

I have gained the insight necessary to contribute constructively to the board’s work through my energy engineering studies, where I become acquainted with part of Verdo’s core business – district heating. During my almost four years at Verdo, I have also gained extensive knowledge of Verdo’s entire business through cooperation and projects with the staff functions. Verdo has undergone a profound transformation during that time. During the period with COVID-19 and just afterwards, there were fewer projects and a slower pace. This has since been replaced by an extreme level of activity in the heating sector. We are seeing rapid development right now, which I am learning a lot from being a part of.

However, it is particularly the work with Verdo’s social contract, sustainability, mission and vision that drives me. It is fantastic to be involved in board work where it is so clear that Verdo is a purpose-driven company, not only concerned about profit. We must of course set the scene for Verdo to grow and be a profitable business, but it in a responsible manner, giving back to the local community and ensuring the best prices and high security of supply for consumers.

Verdo’s key focus areas in the coming years are to consolidate the business areas we already have, and increase awareness of Verdo as a brand. There is much competition in our market, especially in the battle for qualified labour. We are in a strong position here because we can offer future employees a clear purpose. We must continue in this vein, because it will be important for the future Verdo.

Verdo’s ownership

Verdo a.m.b.a. is owned by the cooperative owners. These are the Group’s heating consumers in Randers and Herning, water consumers in Randers and the consumers connected to the electricity grid in Kongerslev.

As a cooperative, Verdo works to advance the cooperative owners’ common interests by purchasing heat, water and electricity. All cooperative members can have influence by voting in elections to the Board of Representatives, based on the ‘one meter – one vote’ principle. Elections to the Board of Representatives are held every four years.

Board of Representatives

The Board of Representatives is Verdo’s supreme governing authority. The maximum number of members in the Board of Representatives is 85 – elected in the three supply areas: Randers (56 members), Herning (28 members) and Kongerslev (one member). The number of seats per supply area is based on the proportion of meters. On 31 December 2022, the Board of Representatives had 70 members.

Supervisory Board Executive Board

Verdo’s Supervisory Board is elected by and from among the Board of Representatives. The Supervisory Board is responsible for the general management of the company and approves the company and Group strategy. The Supervisory Board also approves the Group’s budgets and financial statements. The board has 10 members – three from the Herning voting area and seven from the Randers/Kongerslev voting area. In addition, there are four employee representatives.

The Executive Board at Verdo is responsible for daily operations and consists of one or more directors elected by the Supervisory Board.

On 31 December 2022, Verdo’s Executive Board consisted of CEO Jakob Flyvbjerg Christensen and CFO Kenneth R. H. Jeppesen.