Danske Bank Names Chairman Kolding CEO

Danske Bank A/S (DANSKE) said Chairman Eivind Kolding, 52, will take over as chief executive officer of Denmark’s largest bank after Peter Straarup retires.

Kolding, who’ll step down as CEO of Maersk Line, the container unit of A.P. Moeller-Maersk A/S, will take over Feb. 15, the Copenhagen-based bank said in a statement today. Ole Andersen will become new chairman, Danske said.

Danske Bank shares have plunged 46 percent this year as twin Danish housing and banking crises depress consumer spending and drive up costs. The bank is cutting 2,000 jobs after reporting a third-quarter loss of 384 million kroner ($69.8 million), the first since 2009, it said Nov. 1. The bank said then that Straarup, 60, will retire.

“Kolding has obvious qualifications that make him very well suited for the job, and he has achieved impressive results during his career,” Andersen, the new chairman, said in the statement. The bank had reviewed both internal and external candidates, he said.

Kolding became a member of Danske’s board in 2001. Maersk, Denmark’s biggest company, owns about 23 percent of the bank, according to data compiled by Bloomberg.

Kolding joined Maersk in 1989 and was named chief financial officer in 1998. In 2006 he was named partner at Maersk and next year he took over as the sole CEO of the container line, which operates more than 500 vessels.

Kolding has a Master’s degree in law from the University of Copenhagen.

Maersk named Soeren Skou new CEO of its container unit, it said in a separate statement.

To contact the reporter on this story: Frances Schwartzkopff in Copenhagen at fschwartzko1@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.