Management

Board of Directors

The Board of Directors is ultimately responsible for the management of Thrane & Thrane. The Board of Directors sets up the policies for strategy, accounting, organisation and finance to be pursued by the company and appoints the members of the Management Board.

The company's Articles of Association provide that members of the Board of Directors are to be elected by the company's shareholders at the annual general meeting for terms of one year. The employee representatives are elected by the employees of the company for terms of four years. The Board of Directors consists of not less than three and not more than seven members in addition to employee representatives.

Waldemar Schmidt (born 1940). Chairman of the Board of Directors since September 2000 and member of the Board since the same date. Re-elected to the Board of Directors in June 2007. Mr Schmidt’s term of office expires in June 2008. Chairman of the Board of Superfos A/S. Deputy chairman of the Board of Majid Al Futtaim Group LLC (United Arab Emirates). Member of the Board of Alfa Laval AB (Sweden), Cicor S.A. (Switzerland), Enodis Plc (UK), Kwintet AB (Sweden) and Welzorg Group b.v. (Netherlands). Mr Schmidt has extensive international management experience, including a lengthy period as Group CEO of ISS A/S. He has experience from offices on the Boards of other listed Danish and international companies. Co-author of the Copenhagen Stock Exchange Corporate Governance Recommendations.

Lars Thrane (born 1948). Founder of Thrane & Thrane A/S. MSc (Engineering), Ph.D. Re-elected to the Board of Directors in June 2007. Mr Thrane’s term of offi ce expires in June 2008. Member of the Board of the Maritime Development Center of Europe. He has general management experience and extensive knowledge and experience of radio and satellite communication.

Jim Hagemann Snabe (born 1965). Member of the Board of Directors since September 2007. Mr Snabe's term of office expires in June 2008. Mr Snabe has extensive international management experience and in-depth knowledge of IT.

Morten Eldrup-Jørgensen (born 1962). LL.M, MBA. Member of the Board of Directors since September 2000. Re-elected to the Board of Directors in June 2007. Mr Eldrup-Jørgensen’s term of offi ce expires in June 2008. Lawyer and partner of the law fi rm Nielsen & Nørager. Chairman of the Board of Bent Thorbergs Fond, Cultivator A/S, ISG A/S and MK Ventures ApS. Member of the Board of World of Golf AB (Sweden). Mr Eldrup-Jørgensen has general management experience from holding offi ces as chairman and member of the Boards of a number of companies. He has extensive experience with corporate finance, mergers and acquisitions, stock exchange and finance law and commercial and corporate law.

Morten Jagd Christensen (born 1967) Employee representative. MSc (Engineering), Ph.D. Member of the Board of Directors since June 2006. Mr Christensen’s term of office expires in June 2010. R&D Development Engineer at Thrane & Thrane Lyngby. Chairman of the Board of Qualityworld Aps.

Gert Hejne Jensen (born 1965) Employee representative. Member of the Board of Directors since June 2006. Mr Jensen’s term of offi ce expires in June 2010. Head of Final Assembly & Warehouse at Thrane & Thrane Aalborg. Business diploma in logistics and human resource development.

Management Board

	Walther Thygesen (born 1950). CEO. MSc (Engineering) and MBA. Mr. Thygesen has been with the company since 1 September 2007.
	Lars Thrane (born 1948). Founder. MSc (Engineering), Ph.D. Mr Thrane has been with the company since Thrane & Thrane’s inception in 1981.

Svend Åge Lundgaard Jensen (born 1961). CFO. MSc (Accounting and Auditing), Diploma in business economics and management accounting. Mr Jensen joined Thrane & Thrane in January 1998. Appointed to the Management Board in September 2000.