19 April 2023
PensionDanmark’s first and current CEO will step down on October 1st 2023 after more than 30 years in charge of Denmark’s largest labour-market pension fund.
PensionDanmark is set to complete its first succession on the top level of the organisation. Torben Möger Pedersen will be stepping down as CEO on October 1st 2023.
”Torben has worked tirelessly and decisively for PensionDanmark throughout three decades. In the chairmanship we have been discussing the long-term strategy of the company with Torben on a regular basis and considering his wish to focus on board work, we agreed, that the timing now is right for a new CEO to take charge,” says Lars Sandahl Sørensen, Chairman of PensionDanmark’s board and CEO at Confederation of Danish Industries (DI).
The board of directors acknowledges the massive effort Torben Möger Pedersen has put into the development of Denmark’s largest labour-market pension fund to the benefit of more than 815,000 members with a majority of skilled and unskilled workers.
”PensionDanmark has become a significant societal provider of welfare services following many years of member-focused innovation with Torben as a consistent driving force. He will hand over a company in peak condition with a future-proofed digital setup, low costs and the best returns in the business for 2022. This provides ideal conditions for at new CEO to set the future direction for PensionDanmark,” says Lars Sandahl Sørensen.
The board has initiated the recruitment of a new CEO and expects the process to be concluded by summer.
”Torben has developed PensionDanmark from a brand new and basic pension fund to a company with a wide range of welfare services. Through pension saving, healthcare and lifelong learning, PensionDanmark creates a solid foundation for the members to have a healthy and long work life and a financially safe old age,” says Deputy Chairman Henning Overgaard, Trade Union President at United Federation of Danish Workers (3F).
Torben Möger Pedersen will remain as CEO of PensionDanmark until October 1st 2023 and will be available to the board of directors to ensure a good start for his successor.
”Having taken part in the foundation of PensionDanmark, becoming the first employee and the CEO for more than 30 years, I have decided to pass on the baton. It has been a great honor and joy together with our skilled employees to be handed the task to develop PensionDanmark into an important supplier of sustainable welfare solutions for common Danes. As of October 1st, I will spend my time on board work, advisory tasks, my family and other private priorities,” says Torben Möger Pedersen.
• PensionDanmark is Denmark’s largest labor-market pension fund and among the 50 largest pension funds in Europe. PensionDanmark manages pension and insurance schemes, health care and educational funds on behalf of 815,000 members employed at 21,500 businesses within the Danish private and public sector.
• Premium income totals EUR 2 bn yearly and the balance sheet is EUR 40 bn.
• Torben Möger Pedersen (born 1955) is Master of Science in Economics from University of Copenhagen and adjunct professor at Copenhagen Business School.
• Torben Möger Pedersen is Chairman of the Boards at Denmark’s Export and Investment Fund (EIFO), Copenhagen Business School (CBS), CIP Foundation and Danish Society for Education and Business (DSEB). Moreover, he is the Chairman of The Danish Government’s Climate Partnership for Finance.
• Torben Möger Pedersen is married to Master of Science in Economics and Business Administration Gitte Bengtsson. The family includes four grown-up kids and seven grandchildren.Source: PensionDanmark
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