Energy firm moves Bødskov Andersen from head of group credit & funding to lead IR department
Danish energy giant DONG has appointed Allan Bødskov Andersen as head of IR and group treasury following Morten Buchgreitz’s move to the position of executive vice president of energy markets.
Bødskov Andersen, who has a PhD in financial economics, was previously the company’s head of group credit & funding. He will now lead a 20-strong treasury department as well as the two-person IR department with Kristian Borbos, lead IR manager.
Having been with the firm since 2006, Bødskov Andersen is no newcomer to DONG or the world of IR. ‘I’ve been working with [Buchgreitz] for several years and have been coordinating the IR work for a couple of years already,’ he explains.
Talking of his plans as the new head of IR at the energy firm, Bødskov Andersen says few changes are needed. ‘We’ve already set the bar quite high for our investor relations so our goal is to continue the high standards we’ve set for our team,’ he states.
The majority state-owned company remains private after the Danish government postponed a planned IPO on the Copenhagen Stock Exchange in 2008 due to the global financial crisis. An IPO is still planned for the company, though no timeframe has been agreed and the Danish government will remain a majority shareholder until 2025.
The company posted a Kr2.88 mn ($500,000) annual profit last year, though it has reported losses of more than Kr1.5 mn and Kr3.1 mn in Q2 and Q3 2012, respectively.
DONG has also appointed two new executive vice presidents: Buchgreitz and Samuel Leupold. Buchgreitz has been with the company for 10 years and will take up his post on March 4, 2013. He has also been filling in as acting head of wind power for the past eight months. Leupold joins the company from Swiss energy firm BKW FMB Energie and will also take up his post as executive vice president of wind power in March next year.