The voice for international business

Transcription

1 The voice for international business YEARBOOK Membership Directory 2012 AN OFFICIAL PUBLICATION OF THE AMERICAN CHAMBER OF COMMERCE IN DENMARK

2 SEATTLE DENVER ICELAND HELSINKI TRONDHEIM STOCKHOLM OSLO BERGEN GOTHENBURG STAVANGER COPENHAGEN HAMBURG BILLUND FRANKFURT MINNEAPOLIS / ST. PAUL AMSTERDAM GLASGOW MUNICH MANCHESTER LONDON BRUSSELS MILAN PARIS TORONTO NEW YORK BOSTON HALIFAX MADRID BARCELONA ALICANTE Fly Icelandair The shortest way to USA & Canada ORLANDO WASHINGTON D.C. I Friendly & professional service I Three classes of service, Saga Class, Economy Comfort & Economy I Comfortable leather seats in all cabins I Seatback interactive entertainment system I Easy & short transit at Keflavik airport + Book your flight at Jyske Bank is also a TV-Station Jyske Bank s financial TV station is for people needing analyses and background information when and wherever it suits them. For people on the move. For people who are mobile. And for people needing information about what is happening in the field of investments, in the world of economy and finance and in respect of global trends etc. en.jyskebank.tv broadcasts programmes in English with the Bank s specialists taking an in-depth approach and brought to you by professional journalists. If you are a resident of the US, please visit

3 f35.com F-35 LIGHTNING II ADVANCED TECHNOLOGY FOR DENMARK S FUTURE It represents the height of technology. But its purpose is very down to earth. Security for the nation and people of Denmark. And the safety of its fighting forces. An aircraft so advanced it sets new global standards for multi-mission capability and interoperability. F-35 Lightning II. More than a fighter jet. A platform for partnership to keep Denmark safe and secure for decades to come. DENMARK THE F-35 LIGHTNING II TEAM NORTHROP GRUMMAN BAE SYSTEMS PRATT & WHITNEY LOCKHEED MARTIN _F35_Advanced_Denmark_AMCHAM.indd 1 3/9/12 4:24 PM Is one of the following statements an issue for you? You are considering regionalising/centralising your Nordic activities to reduce costs. You are considering expanding your Danish operation by adding one or more business units, e.g. R&D, finance, logistics or other shared services. You have found yourself in a situation where you have to justify your company s location in Denmark to your international headquarter. Let Copenhagen Capacity help you build a strong business case. Contact our Business Development Manager, Anne Have Kjærholm, ahk@copcap.com. Scan the code for contact details

4 AmCham s Media Partner: Denmark s only English-language newspaper 2 AMCHAM DENMARK YEARBOOK & MEMBERSHIP DIRECTORY AmCham s 2011 Annual General Meeting at host Lundbeck s auditorium

5 The American Chamber of Commerce in Denmark (AmCham Denmark) is a non-profit, non-governmental business association representing companies actively investing in Denmark and the United States. As the voice for international business in Denmark, AmCham is committed to building a competitive business environment in Denmark, and to doing its part to minimize barriers to international trade. 3

6 Managing Editor: Therese Oliver Writers: The AmCham Team Layout & Design: Woer+Gregorius Printing: Team Rapo Contact Information: AmCham Denmark, Christians Brygge 26, 1559 Copenhagen V, Denmark, Phone (+45) , Fax (+45) , Photos: AmCham Denmark, Pamela Juhl and istock / The American Chamber of Commerce in Denmark has made every effort to ensure the accuracy of the information in this publication. We apologize for any errors or omissions. 4 Pfizer s, Jens Holmstrup at The Foreign Investor Summit

7 CONTENTS 5 Message from the Ambassador Board of Directors Message from the Executive Director AmCham Denmark Year in Review AmCham Highlights 2011 Special Section: AmCham Policy Mission AmCham Denmark Membership AmCham Denmark Members Members by Industry Membership Directory AmCham Network Other Key Contacts

8 Letter from the AMBASSADOR 6 As President Obama emphasized in his 2012 State of the Union message, American companies are vital to our success in emerging from the economic crisis as a stronger nation. American businesses created more than three million jobs in the United States over the past two years, proving once again it is our innovative and productive companies that create the jobs and wealth we need. Fortunately, we have these types of companies in both the United States and Denmark and the best examples are the members of AmCham Denmark. The Embassy is proud to partner with AmCham in promoting U.S. businesses in Denmark. Secretary of State Hillary Clinton recently set forth her vision of Economic Statecraft noting that the U.S. needs to forge an ambitious agenda for joint economic leadership with Europe. AmCham is an important part of that effort. We are pleased that, upon our nomination, AmCham Denmark was able to participate in the Secretary s Global Business Conference in Washington, D.C. in February We look forward to continuing over the coming year the effective collaboration between the Embassy and AmCham to promote opportunities for American companies in Denmark. During the past years, we have enjoyed a mutually beneficial relationship, including hosting a number of successful events at Rydhave, the American Ambassador s residence, where together we gathered well-known and interesting guests, including ministers and opinion leaders from business and the public sector. In addition to the great company, these events offer the opportunity to showcase U.S. companies and their contributions to Danish prosperity and productivity. We appreciate AmCham s mission of working with Danish partners to ensure Denmark remains among the best and most inviting countries for American companies. In order to succeed, innovative American businesses seeking to expand, export, and create jobs must be accorded equal treatment We appreciate AmCham s mission of working with Danish partners to ensure Denmark remains among the best and most inviting countries for American companies.

9 American Chiefs of Mission at Rydhave Minister Monett B. Davis (1945) / Ambassador Josiah Marvel, Jr. ( ) / Ambassador Eugenie Andersen ( ) / Ambassador Robert Coe ( ) / Ambassador Val Peterson ( ) / Ambassador William McCormick Blair, Jr. ( ) / Ambassador Katherine E. White ( ) / Ambassador Angier Biddle Duke ( ) / Ambassador Guilford Dudley, Jr. ( ) / Ambassador Fred J. Russel ( ) / Ambassador Philip K. Growe ( ) / Ambassador John G. Dean ( ) / Ambassador Warren D. Manshel ( ) Ambassador John L. Loeb, Jr. ( ) / Ambassador Terence Todman ( ) / Ambassador Keith L. Brown ( ) / Ambassador Richard B. Stone ( ) / Ambassador Edward E. Elson ( ) / Ambassador Richard N. Swett ( ) / Ambassador Stuart Bernstein ( ) / Ambassador James P. Cain ( ) / Ambassador Laurie S. Fulton (2009-) 7 and fair opportunities in the countries where they operate. AmCham is a driving force in supporting these ideals in Denmark. AmCham s annual Foreign Investor Summit is but one example of its steadfast commitment to promote a business friendly environment which focuses on improving Denmark s ability to attract and retain foreign companies. The United States also benefits from this international business cross-pollination. The American market is open to products, ideas, and inward investment in ways that few others are. Since taking office, President Obama has emphasized his unequivocal openness to both foreign and domestic investors. For example, in 2011 he created SelectUSA to assist foreign companies as they invest in our country and create American jobs. AmCham shares this vision and established its Transatlantic Company of the Year Award to recognize the value Danish companies, such as 2010-winner Novo Nordisk and 2011-winner Grundfos, create for both our nations when they invest in the United States. Despite the constant relocation of assets in the global economy, the U.S. remains the largest destination for foreign direct investment in the world: in 2010, FDI into the U.S. economy increased to $228 billion from $153 billion in This is a trend we are confident will continue because there is no better place to do business than the U.S. As we press forward with President Obama s and Secretary Clinton s vision, I look forward to our continued partnership and cooperation. U.S. Ambassador to the Kingdom of Denmark Laurie S. Fulton Before being appointed U.S. Ambassador to Denmark, Ms. Fulton was a Partner at Williams & Connolly LLP, where she had a national practice in complex civil litigation, internal investigations and white collar criminal defense. In 2004, she was named one of Washington s Top Lawyers by the Washingtonian magazine. Ms. Fulton has co-chaired the Criminal Litigation Committee of the Section of Litigation of the American Bar Association. She was appointed and confirmed by the U.S. Senate to serve on the Board of Directors of the United States Institute of Peace from 2004 to 2008, and serves as Co-Chair of USIP s International Advisory Council. She has been active in nonprofits and community organizations such as Bright Beginnings, Inc., Girl Scouts Women s Advisory Board, Alumni Admissions Interview Program at Georgetown Law School and the South Dakota Farmers Union Foundation. Prior to entering the field of law, Ms. Fulton worked on Capitol Hill and as Executive Director of Peace Links and Access, A Security Information Exchange. Ms. Fulton holds a B.A. from the University of Nebraska at Omaha and a J.D., magna cum laude from Georgetown University.

10 There has never been a more important time to have a strong collective voice speaking on behalf of international business 8 Chairman Kim Østrup Vice President IBM Danmark Message from the Board of Directors AmCham Denmark, under the leadership of Stephen Brugger and the dedication of its new staff, continues to strengthen the Chamber s voice as the premiere representative of international business in Denmark. The progress that AmCham has made is just the start. AmCham s 2012 policy agenda will continue to have international competitiveness as a central theme, focusing on the important role played by multinational companies investments in and out of Denmark. There has never been a more important time to have a strong collective voice speaking on behalf of international business and there has never been a more important time for the Chamber to deliver events, knowledge exchange opportunities and policy work that assists you, our members, to secure and to grow your business. We are pleased to acknowledge the valuable relationships we share with our key partners and colleagues. A special thanks to the U.S. Embassy and Ambassador Laurie S. Fulton for their invaluable contributions throughout this past year. Finally, we extend our sincere thanks to you, our members, for your continuing support. AmCham Denmark Honorary Members: 2001 Richard N. Swett, U.S. Ambassador to Denmark ( ) 2002 Christopher Beede, Embassy Economic Officer (Ex-Officio Liaison Board Member ) 2003 Elias Panayotopoulos, Citigroup (Board Chairman ) 2005 Stuart Bernstein, U.S. Ambassador to Denmark ( ) 2005 Jonathan Grover, Ferring Pharmaceutical (Chairman ) 2005 Sally Mathiasen Light, Deputy Chief of Mission ( ) 2006 Dan O Day, Roche (Board Member / Healthcare Committee Chair ) 2006 Greg Burton, Embassy Economic Officer (Ex-Officio Liaison Board Member ) 2007 Paul Coleman, Biogen Idec (Board Chairman ) 2008 James P. Cain, U.S. Ambassador to Denmark ( ) 2010 Julie Edwards, GlaxoSmithKline Pharma (Board Chairman ), (Deceased 2011) 2011 Mark Luscombe, Citi (Board Chairman / Vice Chairman )

11 AmCham Denmark BOARD OF DIRECTORS 9 AmCham s Leadership Honarary President Laurie S. Fulton U.S. Ambassador to Denmark Chairman Kim Østrup Vice President, IBM Denmark Treasurer Allan Agerholm, Crowne Plaza Copenhagen Towers Nicola Gordon Managing Director, Shell Denmark Matthew C. Koenings Operations Integration Leader, DuPont Charlotte Mark, Microsoft Development Center Copenhagen Finn L. Meyer Partner, KPMG Dorthe Mikkelsen Vice President Mid-Europe 2, MSD Torsten Moe Vice President, Booz & Company Thomas Nagy Executive Vice President and COS, Novozymes Emily Oatney Country Manager, Chevron Martin Rahbek CEO, Konica Minolta Steve Shillington Managing Director, McDonald s Danmark Lene Skole Executive Vice President & CFO, Coloplast David Horn Solomon President and CEO, Zealand Pharma John Walsh III President & COO Nordic Region, CSC Denmark Anders Würtzen Vice President Group Relations, A.P. Møller - Maersk Ex-officio Liaison Shawn Waddoups First Secretary for Economic and Commercial Affairs, U.S. Embassy Observer Bjarke Castberg Frederiksen Head of Commercial Section, U.S. Embassy

12 10 Message from the executive Director 2011 was once again a banner year in the history of AmCham Denmark and its success as the voice for international business in Denmark. No other nongovernmental business organization in Denmark has this niche focus which makes us unique and relevant for key decision makers, and we are being confirmed in the access we are achieving and the work that we are accomplishing. This yearbook is rich with examples of the access and accomplishments that took place during AmCham Denmark has made it a priority to identify issues affecting our member companies, communicate these issues to decision makers and work towards sustainable solutions. Our decision to cooperate with CBS to document the important role of Multinational Enterprises in Denmark provided AmCham with an excellent platform to engage decision makers and stakeholders. Already in February 2011, AmCham s board met with the leaders of the two opposition parties, Helle Thorning-Schmidt and Villy Søvndal - communicating preliminary data from the report. In the fall, The Chamber s policy platform was further strengthened with the release of our 2011 Business Barometer and the HR Committee s white paper The Talent to Compete. These, together with the CBS report formed the foundation for a successful Foreign Investors Summit in November, which featured the new Minister of Trade and Investment, Pia Olsen Dyhr. With a new Danish government in place, 2012 will present the Chamber with opportunities to engage new ministers and communicate our key policy messages. Therefore, we must continue to make it our priority to understand the issues facing our members and to be the voice for these companies in working to influence key decision makers and legislation impacting international companies in Denmark. Therese Oliver Events and Member Services Manager

13 AmCham Denmark s office by the Copenhagen Harbor 11 On a personal note, I would like to take this opportunity to acknowledge all of the warm, working relationships we enjoy with our members, and the valuable relationships we share with our key partners and colleagues. These boost all our efforts and are precisely why we look forward to building on our progress year after year. We hope that you will find this 2012 Yearbook & Membership Directory to be an interesting and informative resource for your business. Last but not least, thanks to our sponsors for making this annual publication possible and thanks to you, our members, for your continuing participation and support. We hope that you will find this 2012 Yearbook & Membership Directory to be an interesting and informative resource for your business. Lisbeth Metasch Administrative Assistant Winnie Harboe Holst Policy and Communications Director Stephen Brugger Executive Director

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15 2011 YEAR IN REVIEW 13

16 YEAR IN REVIEW Events & Milestones January Business After Hours: Avoiding the Digital Dark Ages AmCham teamed up with Iron Mountain at the U.S. Embassy to help attendees navigate, the complex challenges, questions and issues regarding mountains of digital data in the digital age. Nominations Open for the 2011 Transatlantic Company of the Year February Super Bowl XLV American football enthusiasts flocked to Scandic Copenhagen to watch the Green Bay Packers and the Pittsburgh Steelers battle it out in Super Bowl XLV. Roundtable with S and SF Leadership AmCham s Board of Directors met with Helle Thorning- Schmidt (S) and Villy Søvndal (SF) to discuss the issues and needs of international business, centering around competitiveness and foreign investments. IBM hosted the roundtable. U.S. Ambassador in Jutland Executives from Danish and American companies in Jutland gathered for a roundtable meeting with U.S. Ambassador Laurie S. Fulton at Jyske Bank s headquarters in Silkeborg. The event was one of the Ambassador s stops on her public outreach visit to Jutland. March AmChams in Europe attend Transatlantic Week European AmChams gathered in Brussels for a series of events focusing on the transatlantic relationship and to launch The Transatlantic Economy 2011, an annual survey of jobs, trade and investment between the U.S. and EU. AmCham Spring Membership Reception On March 15, more than 100 AmCham Denmark Members gathered at Rydhave, the residence of U.S. Ambassador Laurie S. Fulton, for AmCham s Annual Spring Membership Reception. This year s guest of honor was Danish Justice Minister Lars Barfoed. Sponsored by SAS Executive Seminars in Analytical Chemistry (ESAC) More than 250 researchers, chemists, suppliers and industry experts gathered at the Scandic Copenhagen Hotel for the 11th annual Executive Seminars in Analytical Chemistry (ESAC 2011). April Annual General Meeting & Transatlantic Company of the Year Award The Danish pump manufacturer Grundfos was named as the winner of the 2011 Transatlantic Company of the Year Award, due to its impressive growth in investment and employment in the U.S. as well as their eco-friendly solutions. Hosted by Lundbeck. AmCham Strengthens Board with Addition of Three Business Leaders AmCham members confirmed the appointment of three new board members, all respected business leaders with significant international experience: Nicola Gordon (Shell Denmark), Torsten Moe (Booz & Co) and Steve Shillington (McDonalds). AmCham and CBS Release Report on Multinational Enterprises in Denmark Copenhagen Business School (CBS) released a new report documenting the importance of multinational enterprises to the Danish economy. The report was funded by AmCham Denmark and co-authored by CBS Professors Jan Rose Skaksen and Torben Pedersen. May Executive Forum: David Arkless and the Talent Mismatch Executives gathered at Mærsk s headquarters in Copenhagen to hear about the Global Talent Mismatch from Manpower s David Arkless, a world-renowned

17 expert on labor market trends with widespread experience in helping countries develop strategies for their labor markets. AmCham Healthcare Committee Meets with Danish Regions AmCham Denmark s Healthcare Committee conduc-ted a roundtable meeting with representatives from the Danish Regions. The main objectives for the meeting were to discuss healthcare as a future driver of growth in Denmark. June AmCham s Education and Integration Fund sends Fulbright Scholar to UC Berkeley Copenhagen University graduate student Anne Berg Villumsen was awarded a grant of DKK 85,000 at the University of California Berkeley (Sept. to June 2012) July AmCham Members Support U.S. Embassy s Independence Day Celebration Ambassador Laurie S. Fulton hosted friends from the worlds of politics, diplomacy, business, culture and education for a celebration of American Independence. August AmCham s Annual Golf Tournament at Simon s Golf Club Twenty six teams from all sectors of Denmark s international business community came together in a fierce competition to compete for the AmCham Cup at Simon s Golf Club. AmCham Meets with Representatives from the U.S. Mission to the EU AmCham Denmark met with representatives from the U.S Mission to the EU on August 23. On the agenda was the upcoming EU Presidency. Fulbright and AmCham s Collaborate on Entrepreneurship Dr. Timothy Hatten, professor at Colorado Mesa University in Grand Junction, Colorado was awarded DKK 100,000 as a 2-month guest lecturer at the Innovation House at Niels Brock Copenhagen Business College (Sept. to Oct. 2011). September AmCham Releases 2011 Business Barometer AmCham Denmark releases its annual survey of multinational companies with activities in Denmark. The survey looks at each company s prior investments and reviews their expecta-tions for Nominations Open for the Foreign Company of the Year Award AmCham meets with the new U.S. State Department Director Dereck Hogan, newly appointed U.S. State Department Director, Office of Nordic and Baltic Affairs, met with AmCham for a briefing about the Danish business environment and the political framework for doing business in Denmark. Danish Green Partnership Delegation Visits Washington, D.C. U.S. Ambassador Laurie S. Fulton led a Green Partnership delegation to Washington, D.C. Green Partnerships is an ongoing collaboration between the U.S. Embassy in Denmark and the Confederation of Danish Industry (DI) with the primary focus of building transatlantic bridges in the cleantech sector. October Ambassador s Reception and Foreign Company of the Year Award Siemens is recognized for its strategic investments and significant contribution to Danish job creation and economic growth. The beautiful Festsal at Copenhagen s City Hall formed the backdrop for this year s reception. Sponsored by United Airlines and RiskPoint. Foreign Investor Summit The Business of Growth AmCham s 5th Annual Foreign Investor Summit took place on November 1 at the Danish Enterprise Construction Authority on Langelinie. Present at the event was the new Minister of Trade and Investment, Pia Olsen Dyhr. November AmCham EU Delegation Visits Denmark In preparation for the January 2012 Danish EU Presidency, a delegation from AmCham EU s Presidency Group visited Copenhagen to meet with various stakeholders to discuss top-line priorities for the upcoming Presidency. AmCham Welcomes New Board Member, Emily Oatney from Chevron Family Thanksgiving Dinner More than 320 guests gathered in the Marriott s beautiful Vesterhavet Ballroom to celebrate Thanksgiving, complete with all of the trimmings. The event was sponsored by Microsoft and Microsoft Development Center. AmCham Releases 2nd Edition Talent White Paper, The Talent to Compete Following on the success of AmCham s first talent publication, The Talent to Succeed, AmCham releases its 2nd edition talent paper, noting the critical and growing need for a national talent strategy in Denmark. AmCham s views on the government s new tax package is published in Børsen. December Christmas luncheon with U.S. Embassy s Commercial Service. AmCham and the U.S. Embassy s Commercial Service met at the Hard Rock Café to discuss opportunities for collaboration in

18 16 HIGH LIGHTS

19 AmCham Denmark ACCESS AmCham Denmark makes it a priority to provide members access to key business and political leaders. Whether speaking out on behalf of its members, facilitating face-to-face contact, or highlighting the important contributions international companies make to Denmark, its economy and its ability to compete, AmCham remains a key voice of our membership. CONNECTIONS AmCham continues to offer fantastic networking opportunities for our members. Whether sharing relevant knowledge, or gaining relevant experience, members have ample opportunity to network and connect with other high level executives, diplomats and politicians, in a variety of interesting settings. SERVICE Servicing our member companies has always been a key priority for AmCham. We continue to offer great opportunities for members to broadcast their message out to the extensive AmCham network with targeted marketing opportunities, events and company promotions.

20 1 2 1 Villy Søvndal at Board Roundtable with S/SF Party Leaders in February 2 Minister of Trade and Investment, Pia Olsen Dyhr speaks at the 5th Annual Foreign Investor Summit Lars Barfoed talks with Ambassador Fulton at the Spring Reception 4 Margrethe Vestager discusses the talent issue at Maersk in May Board Roundtable with S/SF Party Leaders 5

21 AmCham Hits the Ground Running in 2011: Access 19 With Danish elections on the horizon in 2011, AmCham focused on Access with the various party leaders to ensure that our agenda remained forefront. Already in February, AmCham members met with S & SF party leaders, Helle Thorning-Schmidt and Villy Søvndal. The roundtable discussion focused on the needs and issues of foreign investors and multinationals in Denmark. As 2011 was an election year, this outreach was particularly critical. In March, AmCham held its Spring Member Reception at Rydhave, with special guest, Justice Minister Lars Barfoed. Ahead of the reception, Minister Barfoed joined the AmCham Board of Directors for a roundtable discussion focusing on competitiveness and foreign investments. The informal discussions touched on several key issues, including Denmark s challenges with low labor productivity growth and high cost of doing business. Minister Barfoed then joined Ambassador Fulton and AmCham Chairman Kim Østrup in greeting the many guests as they arrived for this highly anticipated afternoon reception. The timing was perfect, since Ambassador Fulton had just returned from Washington DC, where she accompanied the Danish Prime Minister Lars Løkke Rasmussen for his personal meeting with President Obama the previous day. In May, AmCham s Healthcare Committee met with the Danish Regions to discuss healthcare innovation as a growth driver. The meeting s goal was to open a dialogue about public-private partnerships in the area of health care. The Healthcare Committee shared its priorities of ensuring that Denmark is a world leader in R&D and clinical trials, the importance of creating a healthy workforce through innovative healthcare solutions and to promote Denmark as a showcase for IT and healthcare solutions. AmCham s 5th Annual Foreign Investor Summit took place in November at the Danish Enterprise Construction Authority on Langelinie. Present at the event was the new Minister of Trade and Investment, Pia Olsen Dyhr. The summit provided a forum for business leaders and experts to share their thoughts and concerns over the future of foreign investment in Denmark with the new minister. Finn Lauritzen, Director General of the Danish Enterprise Construction Authority, kicked off the program by welcoming guests to Dahlerup s Pakhus. Lars Barfoed speaks at Rydhave in March 2011

22 1 1 Jan Dalsten Sørensen, Head of Section for Digital Archiving, Danish National Archives 2 2 Shawn Waddoups, First Secretary Economic Affairs, U.S. Embassy; Tine Weirsøe, Managing Director and Owner, Scandinavian Information Audit; Jan Dalsten Sørensen, Head of Section for Digital Archiving, Danish National Archives; and Søren Eltorp, CEO, Iron Mountain A/S 3 David Arkless, Manpower s global expert on labor market trends discusses The Global Talent Mismatch 20 3

23 Executive Forums 21 AmCham s Executive Forum series is important in providing member companies access to experts and information in a variety of areas. Relevant topics and timely information is a true value-added for AmCham members. The executive forum series opened with a bang when, in January, AmCham teamed up with Iron Mountain at the U.S. Embassy to discuss the complexities of navigating the digital age in the event titled Avoiding the Digital Dark Ages. In a more and more digitalized world, it can be difficult to differentiate between which data is worth saving, and which data need to be saved according to Danish, European and international law, as well as what kind of footprint we want to leave for the next generation. Iron Mountain CEO Søren Eltorp emphasized the importance of this topic by underscoring that there are literally exabytes of electronic records and billions of paper documents archived in Denmark alone. Storage is one issue, but even more important is access to the stored data, which must be secure, cost effective and easy. Even Historian and Head of Section for Digital Archiving at Danish National Archives, Jan Dalsten Sørensen discussed that the data needs to survive for upwards of 20 years. The executive forum highlight for 2011 focused on the talent issue by bringing in Manpower s global expert on labor market trends, David Arkless. On May 17th, more than 100 executives gathered at Mærsk s headquarters in Copenhagen to hear about the Global Talent Mismatch from Arkless, a world-renowned expert on labor market trends with widespread experience in helping countries develop strategies for their labor markets. Following brief welcoming remarks from Bill Allen, Maersk s Group Senior Vice President HR, David Arkless delivered a thought provoking keynote on the Global Talent Mismatch The Right People in the Right Place at the Right Time. How can it be that with an 11% unemployment rate in the Euro Zone, that 2.8 million jobs go unfilled? And in the U.S. with a 10% unemployment rate, 1.8 million jobs go unfilled? According to David Arkless, President of Corporate and Government Affairs for Manpower, Inc., the answer is simple: Supply and demand are out of sync creating a global talent mismatch. Bill Allen (Senior Vice President HR, A.P. Møller - Maersk A/S) addresses audience at talent conference at Mærsk HQ

24 1 2 1 Finn L. Meyer and U.S. Ambassador Laurie S. Fulton at the Spring Reception 2 Stephen Brugger (AmCham), Steve Shillington (McDonalds), Kees-Jan de Vries (Coca-Cola Nordic) 22 Lord Mayor Frank Jensen and Ambassador Fulton at the Foreign Company of the Year awards dinner.

25 Connections That Add Value 23 The AmCham network is a highquality network for making valuable connections and building solid business relationships was no exception, with great networking offered throughout the year. Spring was in full bloom with AmCham s 2nd Annual Spring networking reception at Rydhave, where more than 100 guests networked with Justice Minister Lars Barfoed, along with U.S. Ambassador Laurie S. Fulton and many other high level guests. The importance of the transatlantic relationship was underscored at AmCham s second annual Transatlantic Business Reception. The reception was held in April at host Lundbeck s Danish headquarters in Valby. U.S. Ambassador Laurie S. Fulton was on hand to present the prestigious award to Danish pump manufacturer, Grundfos. The annual AmCham award highlights the important contributions and positive impact of Danish companies actively investing in the United States. Prior to the award ceremony, Ambassador Fulton addressed the audience, stressing the importance of the transatlantic relationship, which generates close to 5 trillion dollars in total commercial sales per year. On the same note, AmCham s Executive Director Stephen Brugger pointed out that Danish companies already employ nearly 27,000 people in the U.S., and have invested more than 5.2 billion USD. A fantastic networking event in the fall was AmCham s annual Ambassador s Reception and Foreign Company of the Year Award, where foreign companies achievements in Denmark and abroad are highlighted. More than 150 guests gathered for an afternoon of quality networking at Copenhagen Rådhuset s Festsal and to find out which company would win the prestigious award. Siemens took the prize this year From left: Finn Lauritzen (DECA), Merete Juhl (Invest in DK), Minister Pia Olsen Dyhr, US Ambassador Laurie S. Fulton, Kim Østrup (IBM) at the 2011 Foreign Investor Summit 2 Jesper Møller (Toms Gruppen) with Stephen Brugger (AmCham) and Ambassador Fulton at the Ambassador s Reception at Rådhuset

26 Simon s Golf Club in Kvistgård 2 Tournament winners, Team DuPont, with Allan Agerholm from Crowne Plaza Copenhagen Towers (on right) 3 Golfers practice their swing on the driving range 3 Prize Sponsors: AON Cunningham Lindsey Leif Hansen DAFF DuPont GenRe Global Blue Grontmij Haldor Topsoe Hard Rock Café Hobart Oracle PwC Rønne and Lundgren Sealed Air Simon s Golf Club Team Relocations Tom s Chocolates Riskpoint UPS

27 Making Connections at AmCham Cup Clear weather reigned supreme at the 10th Annual AmCham Cup at Simon s Golf Club. Twenty six teams from all sectors of Denmark s international business community came together in a fierce competition to compete for the AmCham Cup and a slough of fantastic prizes. Team DuPont joined the Winner s Circle by claiming the top spot this year, with an impressive 54,7 score. In second place was Team RiskPoint with a close 56,8, and in third place, Team Chartis with a strong 57,4. Competition was tough, but there were 10 teams who received prizes for their outstanding performance in this year s Cup. No matter what the score, everyone was a winner, with great weather, great food, great prizes and great networking. Head Sponsor: Co-Sponsor: Ulrik Fleischer-Michaelsen from Rønne and Lundgren

28 26 Kids enjoy playing Xbox360 Kinect courtesy of Microsoft Copenhagen Marriott s presentation of the turkey HEAD Sponsors: Microsoft and Microsoft Development Center Prize Sponsors: Air France KLM Group Amway Budweiser Coca-Cola Nordic Service Colgate-Palmolive Crowne Plaza Copenhagen Towers The Diplomat Hard rock CafÉ Hess Lays Marriott Mars McDonalds Motorola Møbeltransport Danmark House of Relocation Radisson SAS Tom s Chocolates Thanksgiving Some of our Thanksgiving sponsors with Ambassador Fulton The Copenhagen Marriott s fabulous Vesterhavet Ballroom was the perfect backdrop for AmCham s 10th annual Family Thanksgiving Event in November. The atmosphere was warm and cozy, and upwards of 320 guests wined and dined with friends, family and colleagues, at candlelit tables. Microsoft and Microsoft Development Center Copenhagen were the main sponsors for this event, and they brought along some fun for the kids with two Xbox360 Kinect game consoles with dance and sports competitions. There were plenty of other activities for the kids, while their parents a cross section of the international business community engaged in lively conversation and enjoyed an authentically prepared, traditional American Thanksgiving Dinner.

29 Photos: Omar Ingerslev Helle Thorning-Schmidt and Ambassador Fulton Marine Color Guard 27 The International Community Gets Connected On July 1, U.S. Ambassador Laurie S. Fulton hosted more than 1,400 friends from the worlds of politics, diplomacy, business, culture and education for a celebration of American Independence at the Ambassador s residence, Rydhave, north of Copenhagen. The exclusive afternoon reception featured great food and refreshing beverages made possible by generous in-kind donations and sponsorship from several AmCham Denmark members. In her remarks, Ambassador Fulton focused on the close relations between Denmark and the U.S. She drew parallels between the histories of the two countries, noting how the two countries have enriched each other through migration, visits and cultural exchange. Beautiful grounds at Rydhave

30 Ronald McDonald keeps the kids entertained package sponsors: Sponsor Crowne Plaza Copenhagen Towers Hotel

31 SPONSORSHIP All the right tools AmCham s Services in Sponsor United s Robin Schoug hands our prizes to participants at the AmCham Cup Golf Tournament Visibility is critical for our members, and AmCham keeps the torch burning with our Service offerings Ad packages were particularly popular amongst those members looking to get their message out to the extensive AmCham network. Members took advantage of the benefit from sponsor packages, which offer advertising on the web as well as in our yearbook and monthly business briefs. Event sponsors also benefited from AmCham s high-quality profiling opportunities in Especially noteworthy were AmCham Cup Head Sponsor Crowne Plaza Copenhagen Towers, United Airlines, RiskPoint and SAS, whose commitment and creativity continue to inspire us.

32 30 SPECIAL SECTION special

33 AmCham Speaks Out 31 SECTION A More Productive and Competitive Denmark AmCham Denmark s Policy Mission AmCham Denmark represents a wide range of companies actively investing in Denmark and the United States. As the voice for international business in Denmark, AmCham is committed to building a competitive business environment in Denmark. At the core of AmCham Denmark s policy agenda is international competitiveness, focusing on the important role played by multinational companies investments in and out of Denmark. AmCham s policy work is divided into three coordinated areas: Identifying barriers facing international companies Communicating issues to key decision makers Working together with stakeholders to facilitate solutions

34 Multinational Enterprises How important are they for the Danish Economy? 32 In May 2011, Copenhagen Business School (CBS) released a report documenting the importance of multinational enterprises to the Danish Economy. The report was funded by AmCham Denmark and co-authored by CBS Professors Jan Rose Skaksen and Torben Pedersen. Background The Danish economy is facing significant challenges, including a shrinking workforce and low growth in labor productivity, which have made Denmark poorer relative to other countries. This report explores the potential for multinational enterprises (both foreign multinationals with subsidiaries in Denmark and Danish multinationals with subsidiaries abroad) to improve these conditions an area which has been more or less neglected in the Danish debate. Key Findings All measures indicate that multinational enterprises play a significant role in the Danish economy. Although Foreign-owned multinationals comprise only 1,2% of Danish companies, they generate more than 18% of private sector jobs as well as nearly 25% of Danish exports. Danish multinationals are also making substantial investments abroad, including over 1,3 million employees, which is nearly equal to the total number of private sector employees in Denmark.

35 Kim Østrup (IBM) presents multinational report findings Additionally, numerous studies from a range of countries conclude that multinationals are generally more productive than non-multinationals. Workers with previous experience from multinational firms tend to transfer their know-how to Danish firms, thereby increasing their productivity. However, there has been an increasing gap between inward and outward foreign direct investments (FDIs). Until 2003 the two were basically identical, but by 2009 the stock of outward FDIs was nearly 50 percent higher than the stock of inward. This gap between inward and outward FDIs is particularly large within the area of manufacturing. Since foreign owned firms seem to be important for productivity and growth, the gap that has arisen between outward and inward FDIs is worrying. This indicates that Denmark has to reinvent its attractiveness either by becoming more attractive to manufacturing firms or by becoming more attractive in other industries. Multinational EntErprisEs in DEnMark Value added, investments and Jobs! Torben Pedersen and Jan rose skaksen / Copenhagen Business school 33 Only 1.2 percent of companies in Denmark are foreignowned. However, these companies employ more than 18 percent of the total number of employees in the private sector - and create 21.5 percent of the value added and nearly 27 percent of the Danish export. DKK billion Outwards Inward and Outward FDI for Denmark FDI Gap: DKK 275 Billion Source: Danmarks Nationalbank (2011) Inwards

36 Regarding Talent - Denmark Needs at National Talent Strategy 34 Denmark needs a national talent strategy to increase productivity and regain competitiveness. With the decline in the European workforce over the coming years, forecasting the skills needed and doing what it takes to ensure an adequate future supply of talent should be an absolute priority for governments. The winning countries in the global competition will be those that address the talent issue proactively to strengthen their economies. A major key to economic growth is increased labor productivity and the best way to increase labor productivity is to be better at matching individual skills to current and future jobs. Therefore an efficient national economic strategy, aiming for growth, demands a national talent strategy to support it. DA nm Ar k talent som konkurrenceparameter The key to economic growth is increased labor productivity and the best way to increase labor productivity is to be better at balancing supply and demand in the workforce. Denmark has a relatively successful economy. However, complacency now is a formula for the disaster of the economy of this country. The systems you have are inadequate for the next years. Denmark needs to change them now and there is no better time for change than with a new administration. David Arkless, President of Corporate and Government Affairs, Manpower Inc.

37 Although we have seen improvements in conditions for developing, attracting and retaining highly qualified labor in Denmark, further improvements are required. A national talent strategy will ensure a more strategic perspective and secure the best value of future investments in education and FDI incentives, help companies succeed and grow, and ultimately lead to a more competitive Denmark. Charlotte Mark,, Microsoft Development Center Copenhagen 35 (from left) Margrethe Vestager (Radikale Venstre) and Charlotte Marks (Microsoft Development Center) at David Arkless presentation

38 AmCham s 2011 Business Barometer In October 2011, AmCham Denmark released findings from its annual survey of multinational companies with activities in Denmark. The survey looks at each company s prior investments and reviews their expectations for The key findings of the survey were: 36 The high cost of doing business in Denmark is by far the biggest challenge for multinationals. Of the companies surveyed, 78% of those who are considering moving jobs and/or investments out of Denmark, point to high costs. Although 47% of the surveyed companies expect to increase their Danish investments in 2012, 53% of the companies indicate that they have considered moving their investments outside of Denmark. 40% of the companies consider Denmark s ability to attract foreign workers as poor or very poor. A competitive tax system and openness to foreigners are important areas to address. A New Government On October 3, 2011, a new Danish government was formed, with Helle Thorning-Schmidt (Denmark s first female Prime Minister) at the helm. The new Government consists of three parties: S The Social Democrats (Socialdemokraterne) R The Danish Social-Liberal Party (Radikale Venstre) SF The Socialist People s Party (Socialistisk Folkeparti) According to the Government s platform publication, A Denmark That Stands Together the SRSF-Government plans to address several key issues raised by AmCham.

39 AmCham Denmark s Priorities Tie Into The Government s Platform 37 The government promises to launch a reform program designed to create growth. They intend to facilitate investments which enhance welfare, education and research. Productivity is a top priority for the government. The Government Platform states: Productivity must be increased so as to ensure Denmark rises towards the top among the OECD countries. Productivity Commission The government is setting a precedent for strong productivity growth throughout society, within export, domestic market sectors and the public sector. The government has stated: Denmark must once again move up the rankings. We must lie close to the OECD countries that have the highest productivity. The Government will therefore set up a productivity commission to identify the causes of the low productivity since the mid-1990s, and on this basis come with specific recommendations that can enhance productivity in Denmark. AmCham outreach to the new government in 2012 intends to influence the content and results of the Productivity Commission. Foreign direct investments The Government platform also states that: Denmark must also become better at attracting foreign investments. Investments in Denmark from foreign investors lie below the average for the rich countries. Action must be taken to rectify this situation. We must therefore create better framework conditions for investments by foreign companies in Danish companies. The government backed up its words with action, creating a new Ministry for Trade and Investment, and appointing Minister Pia Olsen Dyhr to spearhead.

40 38 AmCham outreach to the new Government Pia Olsen Dyhr, Minister of Trade and Investment.

41 Minister Pia Olsen Dyhr at AmCham s Foreign Investor Summit. white paper The Talent to Succeed, but underlined there is much more work to be done. The winner of the global competition will be the country that proactively manages the talent challenge, and Denmark needs a coherent national talent strategy, Mark stated. 39 AmCham engaged Minister Pia Olsen Dyhr in AmCham s 2011 Foreign Investor Summit on November 1. In her keynote address, the minister underscored the government s commitment to the business community: That I stand here today in the capacity of Minister of Trade and Investment, is a concrete testament to the government s commitment to increased foreign trade and investment. We want to give you the best conditions to achieve higher growth and create more jobs. Among the government s initiatives for ensuring growth and competitiveness is the establishment of a productivity commission aimed at mapping out underlying factors that have caused productivity growth to lag behind, and come up with concrete solutions. Other priorities include promoting higher education, increasing the priority of R&D, and reducing administrative red tape for businesses. The importance of the multinationals, The Talent Challenge and the need for pre-conditions for attracting foreign direct investment. During the Summit, AmCham Chairman Kim Østrup outlined the importance of the multinationals, and Charlotte Mark, Managing Director, Microsoft Development Center Copenhagen, presented highlights from the new AmCham HR Committee white paper entitled The Talent to Compete, which was unveiled at the summit. Mark acknowledged the small but important steps that had been accomplished since the release of the HR Committee s January 2010 Torben Möger Pedersen, CEO for PensionDanmark and a member of the Copenhagen Business Task Force, shared the findings and recommendations from the Task Force, which was launched by Copenhagen s Mayor Frank Jensen in March One of the main objectives of the Task Force is to increase Copenhagen s annual growth to an average of 5% of GDP through 2020 which will benefit all of Denmark. To accomplish this, the capital region must have the right pre-conditions for attracting foreign investment, including being accessible to international companies and their employees, said Pedersen. AmCham s three key recommendations to the Danish Government - Looking forward The three key recommendations, which the Danish government must address to attract and retain foreign investments: Commit to making foreign investments a long-term governmental priority. Create a national talent strategy linked closely to Denmark s investment strategy Ensure stability, predictability and competitiveness in corporate tax legislation. Specifically regarding the tax issue, the new Government stated in its platform that The tax must support the competitiveness of Danish companies operating in competitive markets. Denmark must be an open country that utilizes the opportunities afforded to us by globalization.

42 The idea behind the Education and Integration Fund was an opportunity for AmCham to give something back to the community for the positive reception we have received in Denmark during AmCham Denmark s first 10 years. Stephen Brugger, Executive Director 40 AmCham s Education and Integration Fund As the leading representative of international business in Denmark, AmCham bears the responsibility to not only speak out on issues that affect its members, but also to contribute to effective, long term solutions to these issues. It is our belief that two of the biggest challenges facing Denmark lie within the areas of Education and Integration. Therefore, on the occasion of AmCham Denmark s 10th Anniversary Celebration (May 2009), the Board of Directors established an Education and Integration Fund, endowed with the amount of DKK 500,000 - for initiatives enhancing Denmark s ability to compete globally for both foreign investments and a quality workforce in the future. More specifically, the aim of the fund is to help, encourage and support efforts by institutions, organizations and/or individuals focused on providing better opportunities to acquire or enhance skills, improve educational levels, and/or nurture talent in workforce. AmCham Denmark Fulbright Cooperation In 2011, AmCham entered into a strategic cooperation with the Danish Fulbright Commission to select the first beneficiaries of AmCham Denmark s Education and Integration Fund: About the Danish Fulbright Commission Dr. Timothy Hatten and Stephen Brugger at Entrepreneurship Reception at Niels Brock Copenhagen Business College The Danish-American Fulbright Commission is based on the ideas of J. William Fulbright, American Senator. The program s main objective is to promote friendship and understanding between the USA and other nations. The Commission is established by executive agreement between the United States and Denmark in Fulbright places a great deal of emphasis on scholarship recipients who have both professional and human potential as well as leadership skills in a very broad sense.