Thor Skov Jørgensen, who is CFO of the energy company OK, will be CEO of Coop Danmark. Coop writes this in a press release.
In April, it was announced that OK and Coop amba had entered into an agreement, in which OK will roughly take over half of the ownership of Coop Danmark and gain controlling influence. Coop amba is the association behind Coop Danmark, which previously owned 100 percent of the grocery group. The agreement includes, among other things, that OK and Coop amba will jointly invest two billion kroner in Coop Danmark. At the same time, it was announced that the then CEO of Coop Danmark, Kræn Østergaard Nielsen, would resign. I
Thor Skov Jørgensen joined OK in 2023. Before that, he was part of the top management of the grocery group Salling Group. He will take up the position of CEO of Coop Danmark on June 19.
Coop Danmark is responsible for around 950 stores. The group has the chains Kvickly, SuperBrugsen, Brugsen and 365discount. In recent years, Coop Danmark has been hit by large losses of millions.
The most recent financial statements for 2023 showed an operating loss of DKK 717 million. The total loss after impairments ended at DKK 2.3 billion after tax. The agreement with OK is intended to create financial peace and focus on operations, it says.
- Thor will ensure a strong focus on operations and profitability while strengthening Coop's distinctiveness, including the potential of our colleagues and strengthening Coop's position in the market, says Coop Danmark Chairman Jeff Gravenhorst in the press release.
In Salling Group, Thor Skov Jørgensen was, among other things, Director of Operations at Netto and Director of Føtex.
The agreement between OK and Coop amba still needs to be approved by the competition authorities. Coop expects this to happen at the end of June, it says.
/ritzau/
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