Verdo terminates Kim Frimer as CEO

Verdo has decided to terminate the collaboration with CEO Kim Frimer. The reason for the termination is that Verdo has been subject to various commercial cases over the past month.

"At an extraordinary board meeting this morning, an unanimous board has decided to terminate the collaboration with CEO Kim Frimer," says chairman of the board in Verdo, Torben Høeg Bonde.

Kim Frimer’s contract has been terminated with immediate effect.

"We no longer have confidence that Kim Frimer is the right person to get Verdo back on track. During the recent events there has not been the sufficient understanding of the fact that Verdo is a consumer-governed company," says Torben Høeg Bonde and continues.

"Verdo needs a completely new CEO profile. A profile that keeps the Board and the Board of Representatives sufficiently and timely informed. A profile that manages Verdo as a consumer-governed company."

Temporary replacement
Verdo will now search for a new CEO, but in the meantime Morten Birch has been appointed temporary CEO. Morten Birch is currently general manager of Verdo's department of technical infrastructure and part of Verdo's Executive Board.

"Until we have found the right match for the CEO position, we have appointed Morten Birch as temporary CEO. Morten has been with Verdo for the past four years as general manager of our technical infrastructure business and performed very well. We look forward to a closer collaboration in the coming months,” says Torben Høeg Bonde.

Kim Frimer has been CEO of Verdo since 2009.

"I would like to thank Kim Frimer for the past 10 years in the executive chair," says Torben Høeg Bonde.

Further information
Chairman of the board of Verdo, Torben Høeg Bonde
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