Who sits on our boards of directors, what are their guidelines and how are they compensated?
Our boards of directors select their own members. The boards aim to have a balanced membership in order to ensure that the board, collectively, is well informed about all of the areas that VILLUM FONDEN and VELUX FONDEN make grants to.
Both foundations require that at least one member of its board be a descendant of founder Villum Kann Rasmussen.
The trust deeds state that all board members must be “authoritative, of impeccable reputation, trustworthy and mature”.
Members of VILLUM FONDEN board of directors must also be “business-minded”, and at least two members must “have, or have had, an affiliation with the VKR Group”.
VELUX FONDEN board of directors seeks to include individuals who possess insight into business administration and finance, or into culture and education.
Regular members may sit on the board of directors for a maximum of 10 years. Descendants may sit on the board of directors for 15 years. For both types of members, the maximum age is 75.
Members of VILLUM FONDEN’s board of directors receive DKK 200,000 annually in compensation. The chair receives DKK 500,000 annually, and the vice-chair receives DKK 334,000 annually. Observers receive DKK 75,000 annually.
Members of VELUX FOUNDEN’s board of directors receive DKK 140,000 annually in compensation. The chair receives DKK 280,000 annually, and the vice-chair receives DKK 210,000 annually. Observers receive DKK 70,000 annually.