New BOD: (L–R): Pascal CEO Lars Fenger, board member Villads Thomsen, chairman Lars Dige Knudsen and Senior VP Business Development Peter Frentz.
Pascal has appointed two new members to its board of directors, including a new chairman. The appointments signal the start of a strengthening of the company’s management structure, as it positions itself to achieve continued high rates of growth in the pro audio market.
The current founding directors have appointed Lars Dige Knudsen as the new chairman of the board. Dige Knudsen, a highly experienced board chairman, with numerous directorships to his credit, also has considerable relevant pro audio industry experience, having served in several executive management positions with Martin Professional A/S and Harman International, for more than 20 years. He takes over as chairman from Senior VP Business Development – and founding director – Peter Frentz, who has held the position since the company was founded almost 13 years ago.
“I am extremely happy to be passing the baton to Lars,” says Frentz. “It has been my ambition for some time that we fully professionalise the board, so as to position ourselves to achieve longer term sustained growth. It will be Lars’ role to finalise our board line up and lead it in the coming years, to assist our CEO fulfil some very ambitious strategic goals.”
Pascal’s future growth strategy is based in the continued sustained expansion of its pro audio business model. In structuring the board to best support the management’s strategic ambitions in that respect, Dige Knudsen has made his first new appointment, bringing on board Villads Thomsen. Thomsen previously served for more than 10 years in senior positions with Martin Professional, and then as VP President of Global Sales, Lighting Business Unit with Harman Professional International. He is currently CEO at Lyngsoe Systems, a world leading Danish based software developer and systems integrator of logistics solutions. He brings specialist business development skills and considerable experience to the board.
“Since leaving Harman in 2017, I have focused my energies on board positions within a diverse range of SME sector domestic and international owner driven companies,” states Dige Knudsen. “Pascal is a remarkable example of such a company, having risen to the number one position in an international specialist market in a very short period of time. All the more remarkable is that it already has a highly credible strategy for further expansion and growth within that market space. As it is poised for a new developmental cycle, putting in place a board of directors with the widest possible business skills and experience is a key move in assisting the company fulfil its objectives.”
Commenting on the boardroom changes, CEO Lars Rosenkvist Fenger says, “Our growth targets are highly ambitious and projected over the next seven years. The expansion is entirely focussed on the pro audio market, and we have specific strategies planned for increasing our share of business in our current market sectors, as well as developing new business opportunities. Professionalising and expanding our board will provide us with recourse to wider commercial expertise and experience in support of implementing these strategies and achieving our goals. It will be particularly beneficial for myself, to be able to spar with a wider team of people whose external skills and experience will help ensure we take the right decisions in the coming months and years.”
Pascal’s stellar financial performance places it well inside the top one percent highest performing Danish companies; a country that is ranked as the fourth most productive developed economy in the world.* In the previous six years, the company has achieved a higher than 50 per cent year on year growth rate.