PensionDanmark’s high-profile leader Torben Möger Pedersen is quitting the labour-market pension fund this autumn after 30 years as chief executive officer, the DKK310bn (€42bn) investment institution announced yesterday.

PensionDanmark, which covers skilled and unskilled workers, said its CEO wanted to continue his career working on boards, and that a replacement for him would be in place by the summer holidays.

Möger Pedersen said: “After helping to found PensionDanmark, being the first employee and being CEO for more than 30 years, we have decided to pass on the baton.”

The pensions industry veteran said it had been “a great honour and pleasure to have been allowed, together with our talented employees, to develop PensionDanmark into an important supplier of sustainable welfare solutions for Danish employees.”

“After 1 October, I will spend my time on board work, advisory tasks, my family and other private interests,” he said.

Lars Sandahl Sørensen, chair of PensionDanmark and CEO of Danish employers’ organisation Dansk Industri, said: ”We have regularly discussed the long-term strategy for the company, and given Torben’s wish for a board career, we agree that the timing is now right for a new director to take over.”

He said Möger Pedersen was “handing over a PensionDanmark in top shape with a future-proof digital setup, low costs and the industry’s best return for 2022.”

This meant conditions were now ideal for a new CEO to set the future direction for PensionDanmark, he said.

Möger Pedersen already holds several board positions, as chair of Denmark’s Export and Investment Fund, Copenhagen Business School, the CIP Foundation and the Danish Society for Education and Business, according to PensionDanmark.

He also chairs the Danish government’s Climate Partnership for the financial sector.

In 2018, Möger Pedersen won the annual IPE Award for Outstanding Industry Contribution, with his cited achievements including the radical and influential introduction of AI and robotics at the pension fund, and early commitments to financing and infrastructure.

Read the digital edition of IPE’s latest magazine