Change in CEO position at Flügger

After more than five years in Flügger, Jimmi Mortensen has decided to take up a position outside the group as of 1 April 2021. Sune Schnack, Deputy Chairman of the Board of Directors and part of the management team in Flügger, will take up the position of CEO as of April 1, 2021. At an extraordinary general assembly Jimmi Mortensen will take on the position as Deputy Chairman of the board in Flügger as of April 1, 2021, hereby substituting Sune Schnack.

Chairman of the Board of Flügger, Michael Mortensen, states:
“With Jimmi Mortensen Flügger has undergone a significant transformation, and today the group is far more efficient and streamlined. Together with management and employees, Jimmi has succeeded in raising the group's financial results to a historic high, and Flügger today has a sustainable growth strategy – both short and long term. I would like to thank Jimmi for this and for having embraced the role of being Sune’s mentor, and in this way having helped Sune to develop the managerial competencies that are necessary for him to be able to fulfill the position as CEO. Jimmi will take on the position as Deputy Chairman of the Board as of April 1, 2021, and I am pleased that we are able to continue our good cooperation and development of Flügger.

Jimmi Mortensen elaborates on his decision to leave Flügger:
“The last few years have not only been an incredibly exciting journey for Flügger, they have also been a journey for me both professionally and personally. It has been both challenging and enriching, but above all I have learned a great deal. I am humbled and grateful for the trust that the board, employees, customers and shareholders have shown me, and the fact that because we as a team have persistently pulled in the same direction Flügger now is in a completely different state and place than just a couple of years ago. Flügger is a fantastic company with a special DNA, deep roots and a great potential for further growth and development. I am pleased that the Board of Directors will continue the ongoing strategy, and I look forward to being a part of the continued journey.”

Sune Schnack will take over as CEO as of April 1, 2021

Until 1 April 2021, the future CEO, Sune Schnack, will hold the position of Deputy Chairman of the Board. Sune Schnack became part of Flügger in 2017 after three years at Rambøll Management Consulting, where he held a position as a senior consultant.

Chairman of the Board Michael Mortensen states:
"The board, and myself personally, look forward to continuing Flügger's journey with Sune as CEO. In recent years, Sune has acquired the competencies needed in this position. He has in-depth knowledge of the current growth strategy, the group's DNA and the rest of the management team. Above all, he has the attitude needed to continue the strategy and further develop Flügger, and he is ready to take the next step in his career. Like any young leader, Sune will of course face a steep learning curve, but by virtue of his qualifications and previous achievements inside and outside Flügger, the board believes that Sune both can and will succeed in the task. We therefore look forward to continuing the ongoing strategy with a focus on further acquisitions and sustainable growth together with Sune.”

Sune Schnack about his upcoming role:
“I am proud, happy and at the same time very aware of my future responsibilities as CEO. I am pleased that Jimmi will join the board, and I look forward to continuing our collaboration. I feel that I am in a good position to be able to fill the role, not least in light of the collaboration with the group's professional board and competent management team. Together with Jimmi and the rest of the management team, I will spend the next six months preparing myself as best as possible for my future role.”

Facts about Sune Schnack

Age: 30 years
Education: Cand. merc. in Finance and Accounting from CBS, Copenhagen.
Career and management positions:
2020: Deputy Chairman of the Board of Flügger
2020: Head of Assortment in Flügger
2017 -: Responsible for the subsidiaries
2015-2017: Rambøll Management Consulting

Relation to Flügger: Together with Ulf Schnack, Sune Schnack owns 45% of the shares and holds 80% of the votes in Flügger.

Contact

All inquiries regarding the above should be directed to the Chairman of the Board Michael Mortensen at phone: +45 40 60 57 99 or mail: mm@casabolig.dk