JP Fund faces multiple regulation breaches

The Jyllands-Postens Fond’s board engaged in several activities violating the Danish Commercial Foundation Act, according to the Danish Business Authority’s foundation supervision. The supervision expressed ‘serious criticism of the entire board’ listing various issues including an undeclared special bonus paid to the then-chairman Jørgen Ejbøl, which conflicted with ineligibility rules. Additionally, breaching procedures in the expulsion of Peter Bartram from the board and denying access to board material and meetings to the then-vice chairman Michael Holm before his removal were noted. Had Ejbøl not resigned in May following media coverage of these issues, there was enough basis for his forced removal. The Business Authority will monitor the foundation’s compliance with management rules. Jyllands-Postens Fond owns half of the media company JP/Politikens Hus.