DENMARK: InWear Chairman Out After Clash With Co Founder
Torsten E. Rasmussen is leaving his job as chairman of the InWear group after a difference of opinion with the founder Niels Martinsen, reports Berlingske Tidende, the Danish daily today. What the disagreement actually was, nobody will discuss. The chairman will not be standing again in the upcoming AGM. Niels Martinsen has chosen the company doctor Ole Tolstrup Krogsgaard as the new chairman. Krogsgaard was previously called in to help the company back in 1976, and was awarded five per cent of the shares as thanks in 1990. Niels Martinsen actually resigned as managing director of InWear earlier this year after massive criticism on the company's performance. But he still owns 60 per cent of the shares, and sits on the board, with the MD Lars Kjær. Martinsen says that he intends to withdraw from the daily running of the company, but has not yet given a firm date.
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