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20 June 2013.

TOMMY THOMSEN IS THE NEW MANAGING DIRECTOR OF IFU AND IØ

The Danish government has appointed Tommy Thomsen as new managing director of IFU and IØ.

Tommy Thomsen is currently CEO of Nordic Tankers Group. Previously he held a number of top positions at A.P. Møller-Mærsk.

“We have found a charismatic and visionary person to develop IFU’s strategy and promote the ongoing development of IFU’s activities. With his many years of experience at top management level in the international business world, including work in developing countries, Tommy Thomsen will add drive and the right management to the organisation in the years to come,” says Michael Rasmussen, chairman of IFU’s board of directors.

Christian Friis Bach, the Danish Minister for Development Cooperation, says: “Denmark’s innovative development fund will be headed by a strong and experienced businessman. This will benefit the developing countries, Danish companies and the investors. IFU is experiencing a rapid development with new innovative funds and collaborations, and the high growth in a number of developing countries creates new opportunities. I am certain that Tommy Thomsen, the new executive board and the competent employees of IFU will utilise them to their best potential. I look forward to an even stronger collaboration with IFU.”

“IFU is experiencing a rapid development and has a great potential, which I look forward to being part of putting into force. At the same time it appeals to me that IFU is an investment fund that is meant to create development effects as well as a market yield to the investors. With the new prospects of IFU attracting and managing private funds, I see great and exciting challenges in my new job, and I look forward to working with IFU’s management and dedicated employees,” says Tommy Thomsen.

IFU’s board of directors has also decided to appoint Torben Huss as director and member of the executive board.

“Through the years Torben Huss has made an important contribution to IFU’s central position in the development of commercial projects in the developing countries in close cooperation with Danish companies. Tommy Thomsen and Torben Huss will form a strong executive board, and together with IFU’s skilled and competent employees they will be able to create increased value for partners in Denmark and abroad,” says Michael Rasmussen, chairman of IFU’s board.

About IFU and IØ: The purpose of IFU is to promote business development and economic growth in the developing countries in cooperation with Danish companies. The fund advises and invests in joint ventures, etc. in developing countries in cooperation with Danish companies. IØ was established in 1990 to support the reformist countries in their efforts to achieve increased development in Central and Eastern Europe. In May 2010 it was decided to phase out IØ. The fund’s board and executive board do no loner approve new investments, however, they monitor that the closing down is handled in a responsible and financially prudent manner.

For further information, please contact

Michael Rasmussen, Chairman of IFU, +45 33 63 75 00

Managing Director Tommy Thomsen, +45 40 32 36 30

Ib Petersen, State Secretary for Development Policy, +45 33 92 06 19

Torben Huss, Director, IFU, +45 22 68 75 40