SimCorp announces that it has appointed Michael Rosenvold, 49, as new Chief Financial Officer (CFO). Michael Rosenvold joins SimCorp’s Executive Management Board and will be responsible for leading the company’s global Finance, IT, Legal, Investor Relations and Procurement teams.
Michael joins SimCorp from engineering, design and consulting company Rambøll, where he has served as the group CFO since 2008. Prior to that, he held CFO and Investor Relations positions at the global facility services company, ISS. In the early part of his career, Michael served as accountant at Arthur Andersen in Copenhagen and Chicago for more than five years.
Commenting on the appointment of Michael Rosenvold, Chairman of SimCorp’s Board of Directors, Jesper Brandgaard, said: “I am delighted to welcome Michael as new CFO of SimCorp. Michael has already proven his worth in similar positions with other large international companies and I am convinced that his experience and performance-driven mindset will be an asset to SimCorp as we continue to grow.“
Michael Rosenvold will step into his new position no later than October 1, 2017. SimCorp’s current, interim CFO, Søren Strøm, will remain in his position at least until Michael Rosenvold has joined.
Michael Rosenvold’s remuneration in SimCorp is in accordance with the remuneration guidelines approved at the Annual General Meeting held on March 29, 2017. As part of the service agreement, Michael Rosenvold will as a non-recurring compensation be allocated restricted stock units comprising SimCorp shares with a total market value of DKK 5 million vesting over a period of 5 years. The restricted stock units are subject to Michael Rosenvold bering employed as CFO of SimCorp on the vesting dates. Further, the allocation of restricted stock units is subject to an investment by Michael Rosenvold in SimCorp shares prior to October 1, 2017 at a market price of at least DKK 2.5 million.