Lundbeck chair on shareholder criticism: Share split benefits everyone

Chair Lars Rasmussen defended the controversial share split proposed by the Lundbeck Foundation, meant to ensure power stays where it is, at the company’s annual general meeting.

Photo: Gregers Tycho/ERH

The chair of Lundbeck’s board of directors, Lars Rasmussen, had to defend the company’s recent decision to split shares, meaning that some shares would come with weaker voting rights at general assemblies than others.

The proposal, which originates at majority owner of the company with 69 percent of shares, the Lundbeck Foundation, has been met with criticism from Danish pension fund ATP as well as the Danish Shareholders Association. Despite this, Rasmussen maintains that this is the right path forward to prepare Lundbeck for future growth.

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