Coop Denmark appoints new CEO from OK Energy

Thor Skov Jørgensen, the CFO of energy company OK, is set to become the CEO of Coop Denmark, as stated in a press release. Coop Denmark, previously fully owned by Coop amba, is now partly owned by OK after an agreement in April where OK acquired about half of the ownership. This deal also includes a joint injection of two billion DKK into Coop Denmark and the resignation of former CEO Kræn Østergaard Nielsen. Jørgensen, who joined OK in 2023 and has a former top management role at Salling Group, will take over as CEO on June 19. Coop Denmark, facing substantial losses with the most recent report showing a 717 million DKK operational deficit and a 2.3 billion DKK loss after tax, aims to create financial stability and improve focus on operations with this agreement. Approval from the competition authorities is pending, expected by the end of June.