The Board of Directors of TK Development announced to complete a generational change at CEO level and has launched a search for a new group CEO. In that connection, it has been agreed that the current CEO, Frede Clausen, will step down when a new CEO has been found at the latest. Until such time, the group’s activities will be managed by Frede Clausen and Executive Vice President Robert Andersen. Frede Clausen has been a member of the Executive Board since 1992 and has served as CEO since 2002.