2021 was a year of changes “When the winds of change blow, some people build walls and others build windmills.” This ancient Chinese proverb matches Verdo’s progressive strategic development. In 2021, we made a number of organisational changes that will have a major impact on the future of the company. You can read more about these in the following sections.
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erdo is a purpose-driven company. It is therefore important to express our purpose clearly in the articles of association. Verdo tunes its corporate structure – from S/I to a.m.b.a. In connection with the work on corporate governance, Verdo gave some thought to the way the parent company of the Verdo Group had been organised to date as a self-governing institution – Verdo S/I. The characteristics of Verdo’s articles of association and legal basis are, however, best aligned with a cooperative society with limited liability (a.m.b.a.) corporate form. Based on the legal assessment, Verdo therefore amended its articles of association so there is consistency between these and the foundational characteristics of Verdo. This has been done by changing Verdo S/I into a cooperative society, which is also the normal corporate form used in the utilities sector.
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Annual report 2021
The change to a cooperative society has no impacts on our customers, finances or organisation, but simply means that we adjust the company structure so that the articles of association are consistent with the way we perform our activities in practice. As a cooperative society, we will advance the common interests of the cooperative members by purchasing heating, water and electricity in our supply areas. As part of the changes to the articles of association, there is a greater focus on democratising the company. For example, the composition of the Board of Representatives has been changed to ensure clear democratic principles and the broadest possible consumer influence in our various supply areas (currently Randers, Herning and Kongerslev). The size of the Board of Representatives is increasing from 51 to 85 members. This expansion will take effect in Q2 2022 when we have
held the election for the Board of Representatives. Fra Verdo A/S to Verdo Holding A/S In connection with Verdo adjusting the company structure from Verdo S/I to Verdo a.m.b.a., we have also changed the name of Verdo A/S. The rules do not allow two companies to be registered under the same name, simply with a different company structure (Verdo a.m.b.a. and Verdo A/S). We have therefore decided to change the name of Verdo A/S to Verdo Holding A/S. This is purely a formal name change with no legal significance. The company remains the same and has the same CVR number.
