The Creation of the Foundation
Bitten & Mads Clausen's Foundation was founded in 1971 by Bitten Clausen, Mads Clausen’s widow. She did so with the intention of strengthening Danfoss for the future. The creation of the Foundation entailed Bitten Clausen transferring 50% of the share capital of Danfoss A/S to the Foundation and drawing up a trust deed for its activities.
Primary Aim of the Foundation
The Foundation’s primary aim is to strengthen Danfoss so that the company is guaranteed financial security and competitive development. This is managed via the Foundation’s holding of shares in Danfoss A/S. The Foundation also uses its influence as a shareholder at the appointment of members to the Danfoss board. Finally, the Foundation will work towards maintaining and increasing the number of people in work in Southern Jutland.
Who Benefits from the Foundation?
In order to achieve its primary aim, the Foundation may choose to support Danfoss A/S indirectly through initiatives within three award areas: Research and Education, Local Neighbourhoods and Communities, and Sustainability. Since requests for funds cannot be made to the Foundation, it is the Foundation’s Board of Directors that select the initiatives it wishes to support.
Support for Danish and global technological research projects. Education and training to build a strong workforce for Danfoss, now and in the future.
Support for local communities and neighborhoods, together with the regional development of selected Danfoss locations to promote an attractive and dynamic environment.
Support for projects within renewable energy and energy efficiency that advance for the Danfoss vision of sustainable behaviour and solutions.
By founding The Bitten & Mads Clausen's Foundation, Bitten secured a way for the family spirit and visions for the company to be carried on into the future.
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