Posts

Part 1 of 3 – Interview with CFO Karina Deacon

 

As you may know, DFDS launched the Annual Report 2019 and the CSR Report 2019 on 24 February. The reports took lots of efforts to create, and fortunately they have been very well received externally.

In three interviews, CFO Karina Deacon, CPO Anne-Christine Ahrenkiel and Head of CSR Sofie Hebeltoft will share their thoughts about the reports, and they will explain what you can expect to find in the reports and why they might be interesting for you to read.

In this first interview, Karina will tell about the Annual Report 2019.

 

All DFDS reports can be found here

 

 

Thomas Castenschiold accepts job outside DFDS

Thomas Castenschiold has accepted a job outside DFDS. Logistics CFO Anne Rømer gives thanks and also introduces a new team member.

 

Senior Business Controller Thomas Castenschiold has accepted a new position outside DFDS and will be leaving DFDS at the end of March.

Anne Rømer, CFO of Logistics, says: “We have been very lucky to have had Thomas in the Divisional Finance team for close to four years, where he has had a very important role in improving transparency and quality in our financial reporting.

“Thomas will be missed by everyone as a very helpful and knowledgeable colleague. Please join me in wishing Thomas good luck with his new ventures.”

Thomas says: “It has not been an easy decision to leave. DFDS is a great workplace and I have really appreciated all you great colleagues. I have been part of a fantastic Divisional Finance team and it has, among other, been a good experience to take part in the promising journey, growing the finance business partner network within Logistics. I have enjoyed good cooperation in the broad span of stakeholders within Logistics as well as with Ferry and Group functions. I am now moving on to a finance business partnering role as director in the Danish company, Demant.”

New Business Controller joins the team

Anne says: “We have just welcomed Said Guraieb who started Monday 9 March as business controller. Said is a graduate from Copenhagen Business School and is coming from a position as Business Controller at DuPont Denmark. Please also join me in welcoming Said to DFDS.”

Karen Baurdoux joins Passenger, new hire joins Logistics Divisional Finance

Karen Baurdoux moves to the Passenger organisation in a new role, and Ozan Sozer is new hire in Logistics Divisional Finance.

 

It is soon time for a change in logistics divisional finance team as Karen Baurdoux has accepted a new position in Passenger. Karen will be taking a leading role in defining and executing the Win23 strategy for the Copenhagen-Oslo route.

Anne Rømer, VP and CFO for Logistics, says: “Before joining Logistics Karen has worked in an industry similar to Passenger, and she is very much looking forward to come back to that. Karen will support the logistics finance team in finalising reporting for Q1 2020 before heading on to her new ventures.”

“I have been very happy having Karen in my team, as she has brought insight from Local business unit perspective, experience from dealing with our finance service centre, contributing very dedicated to our development journey for the entire Logistics Finance organisation and much more. She will truly be missed. Luckily, Karen will still be located in Copenhagen, so we know where to go, when needed,” Anne adds.

Kim Heiberg, Route Director Copenhagen-Oslo, says: “With Karen as a dedicated resource to run this Win23 project we are better able to both focus on performance and the strategic improvements that will generate new contribution from 2021 onwards. We look forward to welcoming Karen to this exciting new role.”

The exact timing of Karen’s joining Passenger is not finalised, but when she does, she will be part of the Business Development & Strategy team, but sitting with Copenhagen-Oslo Route Management at DFDS House in Copenhagen.

Ozan Sozer joins as new Business Controller

A new resource also joins the Logistics Divisional Finance team.

Anne Rømer says: “Please also join me in welcoming Ozan Sozer. He already started as business controller in our team yesterday. Ozan will be involved in monthly and quarterly reporting, controlling, analysis and support in close cooperation with local finance business partners. Ozan comes with broad experience from finance roles and he also worked as consultant in Deloitte. With the knowledge and capabilities he brings to DFDS I am sure we can continue the development of finance for Logistics in a very good way.”

Our new CFO Karina Deacon has now joined DFDS

Karina Deacon is new CFO and member of DFDS’ Executive Board from 1 January 2020.

“I am very pleased to welcome Karina Deacon to DFDS. Her experience from successful listed companies and significant international career fit perfectly with her new role at DFDS,” says Torben Carlsen.

In her new role as Group CFO at DFDS, a primary task will be to drive continued earnings growth. Karina Deacon will be responsible for the Finance Division that includes Corporate Finance, Group Accounts & Tax, Investor Relations & Corporate Planning, Procurement, Legal & Insurance as well as DFDS’ internal Strategy & Consulting team.

Karina Deacon (50) has extensive strategic and financial management experience from positions with several large, international companies. She holds a Master of Business Administration & Auditing and has gained experience with various management, finance and accounting roles at PWC and ISS and positions as Group CFO from Landic Property, Saxo Bank and most recently Nilfisk.

“Together with Karina I look forward to achieving the ambitions of our new Win 23 strategy. In this respect, Karina’s experience with efficiency and transformations will be of great value to DFDS,” says Torben Carlsen.

“I am really excited to join DFDS and a team that has succeeded in creating impressive results over many years. I look very much forward to contribute to this together with my new colleagues,” says Karina Deacon.

Karina Deacon lives in Virum, North of Copenhagen, is married and has two boys 18 and 20 years old.

DFDS recognised with award at the SCF Forum Europe

Anne Rømer, VP & CFO Logistics

Supply chain finance (SCF) – some of you might wonder what it means and what it is. However, many of our haulage managers in Logistics, like Robert Thompson and Anneli Hellgren, talk about it on a daily basis. In fact, today, on 28th November, we were recognised with the Highly Recommended award in the category Best SCF Programme in Transport & Logistics at the SCF Forum Europe in Amsterdam.’

Supply chain finance provides a set of flexible, financing solutions for buyers and suppliers and it gives our hauliers an opportunity to receive their payment quicker. In summer 2018, DFDS Logistics partnered up with PrimeRevenue and launched a supply chain finance initiative. This year, the initiative is recognized as being among the best in class when it comes to innovative use of supply chain finance from around the world.

There are not many awards in Finance, so it is quite understandable that Anne Rømer, VP & CFO Logistics, accepted the award with a huge smile at a special ceremony. Anne also was chosen to give a keynote speech at the SCF event.

Anne says: “DFDS is honoured to be recognised for our innovative use of supply chain finance and we are very grateful to our contacts at PrimeRevenue who helped us achieve this win-win solution. Thanks to our successful partnership with PrimeRevenue, we can offer hauliers sustainable early payment at an attractive rate – which is building our pipeline and supporting our efforts in securing capacity to support our growth strategy. Also, a big thank you to our haulage procurement managers across the businesss, our colleagues in DFDS Polska and the Visma team for their extraordinary effort in engaging our hauliers and getting this off the ground. It really is a team effort we can all be proud of.”

Jesper Mikkelsen Heilbuth to leave DFDS

Jesper joined DFDS in 2010 and is now leaving DFDS for new career in the international fish industry.

 

Jesper Mikkelsen Heilbuth, VP of Group Accounts and Tax and interim CFO, will be leaving DFDS at the end of January 2020 for a new role as CFO of the INSEPA/Espersen Group in the international fish industry.

Jesper joined us in 2010 after the acquisition of Norfolkline but worked with DFDS even before this as head of KPMG’s audit team which dealt with DFDS’ accounts. “DFDS’ annual report for 2006 was the first report I signed after becoming a state-authorised public accountant,” says Jesper.

“I very much like working for DFDS, the people, my colleagues in management, our values and strategy, so even though I felt it was time for me to move on to new tasks, I waited until I had found this new job that corresponds perfectly with my career wishes and values.”

Torben Carlsen says: “Jesper has done a fantastic job. He came to DFDS with new ideas and contributed strongly to the successful integration of Norfolkline into DFDS and the major restructuring of our finance set-up with One Finance and our finance service centre in Poland. He has played a key role in all due diligence processes and acquisitions since 2010, and has succeeded in creating a streamlined, more digitised and efficient accounting process so we can deliver our financial reports much earlier than we were doing a few years ago.

“I am also extremely grateful for Jesper’s support by filling the position as CFO on an interim basis until Karina Deacon arrives. I thank him warmly for his achievements, his loyalty and for always voicing his honest opinion and keeping focus on what benefits DFDS. I am sad to see him leave but understand his wish for a new career and wish him all the best in his new job.”

Fraud prevention training in Poznań

DFDS Polska is at the forefront of fraud prevention. Here Konrad Tarka trains employees in what to look for and how to defend against cyber-attacks

 

We are always at risk of being targeted by criminals who intend to access our accounts and information and use that to commit fraud. So far this year, DFDS Polska has registered 34 fraud and cyber-attack attempts.

Therefore, it is vital that we are vigilant and stay updated on how to prevent this. Failing to do so can have very serious consequences, including significant financial losses, as you may have heard has happened to other large companies.

Paweł Siedlecki, Master Data Items Team, and Konrad Tarka, Credit Control UK, have been leading training to introduce employees to fraud prevention since June 2018. In late September a group of employees, including six newcomers, took part in this training to understand the concepts and refresh their knowledge.

This training raises the awareness about cyber-security in our Shared Service Centre and in DFDS as a whole. It is obligatory for everyone in DFDS Polska. Employees are taught to stay vigilant, question suspicious correspondence and report fraud attempts or dubious links.

Hundreds of employees trained

So far Paweł and Konrad have carried out 22 sessions, allowing over 250 employees to familiarise themselves with the risks they might encounter.

Paweł and Konrad are not a part of the official IT Security team, but thanks to their interest in technology and IT they run an extremely vital part in the DFDS Polska training programme.

From October the training will be incorporated into our Onboarding Programme to make sure that each new employee gets the basic security awareness from their first days in the company. If you happen to be in Poznań on the second working day of any month, feel free to contact Paweł or Konrad if you wish to join other DFDS Polska employees for this valuable training.

Karina Deacon to be new CFO from 2 January 2020

Karina Deacon is new CFO and member of DFDS’ Executive Board from 1 January 2020.

 

Karina Deacon has been appointed new CFO for the DFDS Group starting on 1 January 2020.

She replaces Torben Carlsen as CFO following his appointment to President & CEO from 1 May 2019.

She will join Torben Carlsen in the Group’s Executive Board and be part of the Executive Team.

“I am very pleased to welcome Karina Deacon to DFDS. Her experience from successful listed companies and significant international career fit perfectly with her new role at DFDS,” says Torben Carlsen.

In her new role as Group CFO at DFDS, a primary task will be to drive continued earnings growth. Karina Deacon will be responsible for the Finance Division that includes Corporate Finance, Group Accounts & Tax, Investor Relations & Corporate Planning, Procurement, Legal & Insurance as well as DFDS’ internal Strategy & Consulting team.

Karina Deacon (50) has extensive strategic and financial management experience from positions with several large, international companies. She holds a Master of Business Administration & Auditing and has gained experience with various management, finance and accounting roles at PWC and ISS and positions as Group CFO from Landic Property, Saxo Bank and most recently Nilfisk.

“Together with Karina I look forward to achieving the ambitions of our new Win 23 strategy. In this respect, Karina’s experience with efficiency and transformations will be of great value to DFDS,” says Torben Carlsen.

“I am really excited to join DFDS and a team that has succeeded in creating impressive results over many years. I look very much forward to contribute to this together with my new colleagues,” says Karina Deacon.

Karina Deacon lives in Virum, North of Copenhagen, is married and has two boys 18 and 20 years old.

DFDS considers to issue new corporate bond

DFDS is investigating whether there is a market for selling bonds. “We will now arrange meetings with investors in Denmark and Norway during next week to present DFDS;” says René Elster, VP of Corporate Finance

DFDS is diversifying its financing needs via banks, but has also previously issued DFDS corporate bonds partly to replace existing bank debt. The aim is to reduce dependency on the banks and to diversify the loan portfolio.

“As we have just informed the stock exchange, we are now investigating whether there is a market for a bond issue for an amount corresponding to DKK 500 million,” says René Elster,  VP of Corporate Finance. “We have previously sold such bonds to a wide group of institutional investors in Denmark, Norway and Sweden. The intention is also this time to sell the bond to Nordic investors and to list the bond on the Oslo Stock Exchange. We have previously seen a significant interest in DFDS and a positive reception for our bond issues, and we will now arrange meetings with investors in Denmark and Norway during next week,” he says.

Logistics finance business partners meet in Gothenburg to share tools and best practice

Gothenburg hosting: On 27 and 28 March Logistics finance business partners engaged in valuable and forward-moving collaboration.

 

On 27 and 28 March, finance people from nearly all Logistics locations, Poznań and Divisional Finance met in Gothenburg to improve collaboration, prioritise tasks, share knowledge, experience and tools – and to simply get to know each other better.

“Bringing the Logistics finance people together has been on my wish list for quite some time and now we finally got here,” says Anne Rømer, VP and Divisional CFO for Logistics. “Since DFDS established the finance service centre in Poznań, it has been on the agenda to develop the finance business partner community and we are taking a big step forward on this journey as a result of these two days. Many Logistics locations have just one or a few finance people so building a strong network between the offices is needed for us to move forward.”

An important outcome of the meeting will be development of the finance business partner toolbox which will allow us to get more value out of all the data we have available. The toolbox consists of reports from Business Intelligence, Tableau and BPC (Business Planning and Consolidation) from internal and external sources.

Eddie Green, EVP of Logistics, expressed his support for the meeting. “Having strong business partners to spar with and support our managing directors is essential to ensure we have a robust business and, as our strategy develops and the solutions offered to our customers become more complex, the role will become even more important. The involvement of the business partners in everyday issues and new business initiatives helps us make better decisions. It’s great to see the team come together.”

 

Joakim Eneroth, business partner for Logistics in Sweden, said: “We are very proud of hosting the first finance business partner meeting outside Copenhagen. Sharing knowledge, experience and tools with each other is how we continue to take the next step.”

Birgitte Kjærsgaard, Director of Training & Development, said: “Growing business partnering skills is much more than understanding facts and applying their value to contribute to our business development; it is building relationships, it is growing communication skills and daring to get out of the comfort zone to challenge the local senior management to make even better decisions. This starts with the focus on personal development. Personally, I am also extremely grateful for the opportunity to learn so much. From HR we also need to partner up to understand the business – and this group is a goldmine of knowledge!”

Luisa Bæk Lund new IT Project Manager for ERP project

Luisa Bæk Lund has been appointed IT Project Manager for the ERP (Enterprise Resource Planning) project and will, in that capacity, report to the CIO Office in IT.

Mikkel Groth-Andersen, CIO Office Manager, says: “Luisa has, with impressive talent, secured a very well-organised finalisation of the ERP RFP (Request for Proposal) process. We are now almost ready to present our recommendations for the new ERP Platform to the Steering Committee. During the RFP process, our programme manager, Joachim Tidemann, decided to leave us, but Luisa picked up the baton and has worked hard to ensure that we are sticking to our plan of selecting a platform before Christmas.”

“After Christmas, we will still have a mile or two to go to finalise the planning, organisation and contract, but selecting a platform is a giant milestone for our company and our strategy for the financial area.”

“Luisa’s transfer to the CIO Office is a win-win situation. The ERP project is getting the very best person as project manager with regard to both knowledge and drive, and the IT PPO team will also benefit from Luisa’s energy and drive to support all our future ambitions. Luisa will be a very valuable member of the IT PPO Team.”

The project is also getting help with running the functional tracks. This project management role will be carried out by Mona Todnem, an external consultant from Herbert Nathan & Co.

The main Programme Manager will be appointed once a platform has been chosen in order for the team to receive guidance from a colleague with a track record in the specific platform.

To zoom out, press CRTL + use mouse wheel.

EU’s General Data Protection Regulation (GDPR): Next step: DFDS to develop data protection solutions

As of 25 May 2018, DFDS must comply with EU’s new data regulation that aims to protect individuals against misuse of personal data compiled by companies and organisations about us all.

Personal data means any information that can be used to identify an individual directly or indirectly. This includes online identifiers such as IP addresses and cookies when they can be linked back to an individual. “And it is vital that we comply with the regulation. For DFDS, the fines for breaking the rules could amount to as much as EUR 75 million,” says Gunnar Hansen, Program Manager, IT.

Using insights for developing solutions
In preparation for the compliance work, Gunnar Hansen has been coordinating the efforts to map out the way we process personal data in the various business areas.  “We now have the insights we need to develop systems, procedures and controls to comply with the rules. Moreover, we will be able to document and demonstrate that we only collect the necessary data for specific purposes and that we only store the data for as long as we need to. We can also show that we treat the data in a secure and confidential manner, respecting the rights of all individuals,” he says.

What departments must do
All departments and business units must ensure that they comply with the requirements, including documenting the personal information they register about people. They must also understand DFDS’ obligations. Most importantly, departments and business units must arrange training for staff in cooperation with the GDPR team and formulate a Data Protection Procedure for their business area. This procedure must also cover external parties. See the full list of your tasks here

What the GDPR teams will deliver
The GDPR Core Team will support the departments in their compliance work; and furthermore, deliver the tools to search – upon requests – for personal information across mailboxes and network data folders, run tests, define roles and arrange e-learning and other types of training and awareness campaigns.

IT is responsible for monitoring abnormal system activity from a security point of view, for writing IT security policies and procedures and for building and training DFDS’ Computer Security Incident Response Team from Group IT. They will handle security emergencies and information to authorities in case of personal data breaches.

Timetable
The solutions must be tested, fully implemented and in use as of 25 May.

See the GDPR organisation here