VILLUM FONDEN is the principal shareholder in VKR Holding A/S (the parent company of VKR Group), and its affiliated companies together employ around 19,900 people in more than 38 countries.
Through the ownership of shares, the foundation receives around 90% of the holding company’s total annual dividend (VELUX FONDEN does not have shares in the company).
The shareholding of VILLUM FONDEN in VKR Holding A/S consists of Class B shares, and with the two Class A shareholders from the founding family, a ‘checks and balances system’ has been developed, meaning that two of the three stakeholders of the company jointly have a controlling influence. Thus, VILLUM FONDEN does not have a controlling influence in VKR Holding A/S, and is therefore a non-commercial foundation.
According to the trust deed provisions, as a joint owner, VILLUM FONDEN is under an obligation to safeguard the interests of the VKR Group and its employees, and must contribute to ensuring that VKR Holding A/S has a board that efficiently manages and controls the company so that the company’s viability and status as a model company are maintained.
The foundation exercises its joint ownership of VKR Holding A/S primarily by appointing the holding company’s board together with the two Class A shareholders. In addition, the board of trustees of the foundation arranges for an annual external audit of the results of VKR Holding A/S.
Representatives on board and among owners
To facilitate communication, one of the members of the board of VKR Holding A/S is also a trustee of VILLUM FONDEN.
Another trustee of VILLUM FONDEN represents the foundation as a shareholder among the group of owners, and this representative cannot be a member of the founding family, nor the trustee who is also a member of the board of VKR Holding A/S. The foundation’s owner representative participates in regular meetings between the group of owners and the VKR Holding A/S management.