Kommentar: Falck skriver i en pressemeddelelse, at det nu bliver anset for at være et governance problem, at den nu fyrede koncernchef Allan Søgaard Larsen ejede op mod ti procent af selskabets aktiekapital. Modellen med, at topledelsen er stor medejer af kapitalfond-lignende selskaber er ellers helt normalt, og medejerskabet ses ofte som en vigtig drivkraft for at den daglige ledelse yder sit bedste.
I den aktuelle sag lugter det af, at bestyrelsen har set Allan Søgaard Larsen som en stigende belastning for selskabet og for relationerne til de vigtige regioner, som udgør en afgørende kanal for koncernens lønsomhed gennem levering af ambulanceydelser. Det er overvejende sandsynligt, at bestyrelsen har anset det for afgørende for genopbygning af tilliden i forhold til omgivelserne og vigtige interessenter at Søgaard Larsen forlader selskabet.
Samtidig er det sandsynligt, at bestyrelsen har vurderet, at der er brug for en anden profil, idet Søgaard Larsen især har stået for et ekspansivt vækstspor, mens koncernen nu har brug for at øge lønsomheden i den aktuelle forretning. Vi ser det også for sandsynligt, at de finansielle långivere har ønsket en ledelses udskiftning, idet koncernen angiveligt er tæt på at bryde finansielle covenants.
Endelig er det sandsynligt, at bestyrelsen ikke er tilfredse med den økonomiske udvikling i 2016, hvor der endda kommer yderligere pres på lønsomheden i 2017 på grund af nye billigere kontrakter med regionerne.
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Pressemeddelelse fra Falck:
The board of directors of Falck A/S today entered into an agreement with Chief Executive Officer Allan Søgaard Larsen that he will step down as CEO of Falck. The chairman of the board of directors in Falck, Peter Schütze, states that the board finds it adversary, in the current situation where the company experiences a number of challenges in several business areas, that Allan Søgaard Larsen is both CEO while also a significant shareholder.
Allan Søgaard Larsen owns more than 10 percent of the shares in Falck A/S together with Deputy CEO Morten R. Pedersen through the company Liberatio A/S. Lundbeckfonden, KIRKBI and TryghedsGruppen own the remaining shares.
The board of directors will now initiate a search for a new CEO. Meanwhile, Deputy CEO Morten R. Pedersen will manage the company in close collaboration with the chairman of the board. Morten R. Pedersen resigns at the end of 2017. Furthermore, Allan Søgaard Larsen will be available to the board until the new CEO has been appointed.
”The board of directors believes that the decision to find a new CEO will ensure a more straight division of tasks between the shareholders of Falck and the Executive Management,” said Peter Schütze, chairman of the board. He continues:
”It is the board’s view that the current structure is an adversary mix of the roles of executive management and co-ownership. This structure was natural during Falck’s private equity ownership period, but the board now wishes the governance relations in Falck to be normalized.”
Allan Søgaard Larsen and Morten R. Pedersen take note of the board’s decision:
”We recognize the governance issue and we recognize that we inherently constitute a very independent executive board due to our ownership. However, we do not agree with the board’s decision, but we take note of it,” said Allan Søgaard Larsen.
