Velux heirs assume control

The decisive shares in VKR Holding, the company behind Velux, are now being transferred to the next generation of the Kann-Rasmussen family. Lars and Hans Kann-Rasmussen, sons of Velux founder Villum Kann Rasmussen, previously held part of these shares. Control is passing to grandsons Jens and Mads Kann-Rasmussen, who have long been involved with the group and its foundation. Jens currently chairs the Villum Foundation, while Mads is the CEO of VKR Holding. The foundation is the main shareholder, owning about 90% of B-shares, whereas Jens and Mads now collectively control around 50% of the votes. Recent financial results show a slight decrease in VKR Group’s turnover in 2023 compared to the previous year, attributed to lower building activity in Europe. The generational shift is not expected to impact Velux and Dovista operations.