This was the result of an investigation conducted in collaboration with external experts. The investigation began after suspicions arose that one or more distributors were marketing and reselling Flügger products to the Russian market in violation of both cooperation agreements and guidelines.
In this connection, it also emerged that a former long-standing business partner had been posing as Flügger’s representative without actually being so. Flügger terminated its collaboration with the former business partner in the spring of 2022.
-”This is completely unacceptable, and we are shocked that a long-standing partner has chosen to deceive us in this way. As soon as we became aware of this, we acted quickly and effectively. We have also significantly tightened our control mechanisms and internal procedures,” says CEO Sune Schnack, continuing:
– ”We have left Russia, and our policy is quite clear in that we want nothing to do with that market. This has also been clearly communicated to our partners. Nevertheless, someone has apparently chosen to go behind our backs and resell paint in violation of the rules. This is completely unacceptable, and we are doing everything we can to stop it.”
Flügger suspects that the resale to Russia took place via one or more distributors. Flügger has therefore terminated its cooperation with distributors in Kazakhstan, Estonia, Azerbaijan and Kyrgyzstan. Exports to these four countries together account for the same volume as a single large store in Denmark.
In addition to discontinuing distribution, Flügger is pursuing legal action to shut down such activities on the Russian market. At the same time, the company has strengthened its internal processes.
As expected, the case has also led to inquiries from the authorities. Flügger is therefore cooperating with the police, who are investigating the circumstances of the case, including Flügger and its management. Flügger will update the market in accordance with applicable rules, if relevant.
Casper Paggio Hansson Felt
Communications Manager
In accordance with Section 107d of the Danish Financial Statements Act, Flügger has defined diversity targets for the composition of the group’s Board of Directors, Executive Board, and overall workforce.
When appointing the members in Flügger group A/S elected by the general meeting, we focus on both diversity and the individual members’ competencies and experience. Our goal is to ensure gender balance and a broad skill set aligned with the company’s core and strategic priorities.
We have defined specific targets for gender representation and independence on the Board:
The management of Flügger group A/S consists of three members: the CEO, CFO, and majority shareholder Ulf Schnack, who has been actively involved in the company since 1958.
Flügger has chosen not to define specific diversity targets for the management. This is because we prioritise insight, experience and relevant competencies when appointing executive members.
Flügger aims for a gender composition in other management levels and the overall workforce where the underrepresented gender constitutes at least 40% (40/60%), aligning with the objective for the composition of the Board of Directors.
Flügger’s recruitment principles and guidelines further support Flügger’s diversity objectives and policy.
We continuously strive to ensure diversity both at the leadership level and across all employee groups.
Our efforts are based on the following principles:
At Flügger, we believe that a diverse workplace and an inclusive work environment are valuable assets. We recognize and value individual differences and believe that diverse teams – including leadership – drive innovation, make better decisions and foster openness and tolerance across the organisation.
Flügger is committed to being a responsible employer. We recruit, promote and develop employees based on their skills and in a manner that supports diversity. This includes ensuring equal treatment regardless of gender, gender identity, social origin, sexual orientation, age, nationality, physical ability, disability, political beliefs, ethnicity, family status, religious beliefs or other ideologies.
In accordance with Section 107f of the Danish Financial Statements Act, we report annually on gender distribution in the Board of Directors and leadership levels in our annual report. For further data, please refer to our latest annual report here.
Born 1958
Joined the Board of Directors in 2025
Independent
469 pcs.
Experience from the financial sector and several board positions, including from Danish and international retail. In addition, experience with financial reporting, risk management and capital markets from a previous position as CEO of Sydbank A/S.
Deputy Chairman of the Board of Directors:
Member of the Board of Directors:
Born 1975
Joined the Board of Directors in 2025
Independent
300 pcs.
Experience from Morgan Stanley with a financial and strategic background as well as from leading roles in IC Group, as both CFO and CEO, Gubra A/S (publ) as deputy chairman, and Swedish RVRC Holding AB (publ) (Revolution Race) as chairman. In addition, experiences with roles in audit and nomination and remuneration committees as both chairman and member.
Chairman of the Board of Directors:
Deputy Chairman of the Board of Directors:
CEO:
Born 1978
Joined the Board of Directors in 2022
Non-independent
M+ II A/S has 851,487 shares (major shareholder).
Through her ownership and management positions in the M+ Group, which includes Hybel and M+ Ejendomme, she has great market insight into the construction and property industry. At the same time, she has broad legal experience with a background as a commercial lawyer and subsequently a long-term career as a defense lawyer with the right to appear before the Supreme Court.
Through Bettina Antitsch Mortensen’s many years of work in the construction and real estate industry, she has gained experience in the documentation requirements associated with construction.
Chairman of the Board of Directors:
Board member:
Director:
Born 1990
Joined the Board of Directors in 2025
Non-independent
103 pcs.
Experience with business-critical systems and digitalization on an international scale.
Chief Technology Officer:
Director:
Born 1963
Joined the Board of Directors in 2023
Employee Representative
30 pcs.
Payroll and ER Lead in People, Communication & Culture
Extensive experience within Flügger with employment in Payroll and HR since 1986. Dorthe Susanne Laursen has insight and understanding of how new initiatives and work processes affect the organisation.
Born 1983
Joined the board in 2023
Employee Representative
715 pcs.
Country Manager for Flügger Danmark and PP professional paint.
Great knowledge of the business as a whole through many years of experience in several different positions including. Regional Manager – Flügger, Sales Manager Professional – PP professional paint and most recently Country Manager for Flügger Denmark and PP professional paint.
Born 1990
1,260 pcs.
Experience from Carnegie Investment Bank and previous management role in Flügger with responsibility for
business development.
Warrants & RSU:
2021- Flügger group A/S
2017-2021 Carnegie Investment Bank
Born 1936
Personal holdings of Flügger shares:
Holdings of Flügger shares owned through the company SUS 2013 ApS with Sune Schnack:
More than 65 years of experience in Flügger.
1958- Flügger group A/S
Born 1990
Personal holdings of Flügger shares:
Holdings of Flügger shares owned through the company SUS 2013 ApS with Ulf Schnack:
In-depth knowledge of Flügger through management positions in both group and subsidiaries. Solid financial and strategic toolbox from education and previous job as senior consultant at Ramboll Management Consulting.
Warrants & RSU:
2018- Flügger group A/S
2015-2017 Rambøll
2011-2015 FSN Capital
2025- Flügger group A/S
2022-2024 Georg Jensen
2018-2022 L’Oréal
2011-2018 PANDORA A/S
2005-2011 Parfums Christian Dior
2003-2005 Selective Beauty
2020- Flügger group A/S
2016-2020 Novozymes
2013-2016 DR
2009-2013 Dong Energy
1999-2009 TDC
1997-1999 Lego
2009- Flügger group A/S
2007-2009 Ernst & Young
2000-2007 IC Company A/S
1996-2000 Falck
1988-1996 Deloitte
2021- Flügger group A/S
2017-2021 Bang & Olufsen
2015-2017 Telenor DK
2011-2015 Ledelseskraft
2007-2011 Oticon/ Demant
2004-2007 Debenhams/ Magasin
2003-2004 Siemens
+45 27 53 28 99
