BoConcept gets a new chairman of the board

Peter Thorsen.

Danish furniture group BoConcept has appointed a new chairman of the board. It is the former vice chairman, Peter Thorsen, who takes up the position. He replaces Viggo Mølholm, who will be the board’s new vice chairman.

The redeployment is a part of an adaptation of the group’s business model, made to ensure that the groups operating margin will increase to 5-7 % in the financial year 2016/17. The adaptation involves, inter alia, that the least performing shops will need new franchisees or be closed, that market focus will be narrowed, that efficiency will be increased and that the group’s franchise model will be optimized.

Peter Thorsen, who has been vice chairman of BoConcept Holding’s board of directors since 2013, has significant experience in operation, business development and turnarounds in international companies. He will work with the company management to ensure optimum conditions for and focus on the implementation of the renewed business model.