Coop Denmark has announced the appointment of Thor Skov Jørgensen as its new chief executive officer, effective 19 June.
Currently, Jørgensen serves as the chief financial officer of energy company OK.
In April of this year, Coop amba announced a new ownership agreement for Coop Denmark with OK.
The agreement will see OK acquire a part of Coop Denmark and, together with Coop amba, inject DKK 2 billion (€270 million) in new capital into the company.
Jørgensen will succeed Kræn Østergaard Nielsen, who decided to step down from the role as soon as the agreement was in place.
'A Highly Competent Grocery Leader'
Jeff Gravenhorst, chairperson of Coop Denmark, stated, "After a thorough screening of possible candidates, we are convinced that with Thor we have found the right CEO to lead the extensive changes that Coop is going through. I have had the pleasure of getting to know Thor over the past six months and have met a good person, a good leader, and a highly competent grocery leader.
"Thor will ensure a strong focus on operations and profitability while strengthening Coop's distinctive character, including the potential of our colleagues and strengthening Coop's position in the market."
Before joining OK in 2023, Jørgensen was part of the senior management team at Salling Group, where he served as the chief operating officer of Netto, CEO of Føtex, and the person responsible for the company's e-commerce and digital business.
'Rebuilding Coop'
Jørgensen stated, "Together with my 40,000 new colleagues, I look forward to rebuilding Coop for the benefit of the two million members and the approximately 800,000 customers who shop in Coop stores every day. This will require a simpler and more agile Coop, where the interaction between stores and all central functions is crucial.
"It will also require us to build on Coop's distinctive character and DNA: the unique brands, responsibility and local roots that have created the company's unique history. We must have vibrant, busy, localised stores where employees are happy to work and customers love to shop."
Jørgensen will not make any specific announcements until the agreement with OK has been approved by the competition authorities, which is expected to happen by the end of this month, Coop Denmark noted.
Coop Denmark operates approximately 950 stores under the Kvickly, SuperBrugsen, Brugsen, and 365discount banners, which last year generated a total turnover of approximately DKK 50 billion (€6.7 billion).
