Christian Stendevad appointed new CEO of Penneo

Company Announcement No. 5-2021
Copenhagen, 22 March 2021

Today, Penneo announces that the Board of Directors has appointed Christian Stendevad new CEO of Penneo. Christian Stendevad will start as CEO on 1 October 2021 at the latest.

Christian Stendevad’s background includes positions as Managing Consultant in PwC and COO in Omada. Christian has a successful track record of co-heading the international scaling and growth of Omada over the past 17 years.

Christian Stendevad will succeed Interim CEO Nicolaj Højer Nielsen. 

Morten Elk, Chairman of the Board of Directors in Penneo, comments: “We are pleased to announce the appointment of Christian Stendevad as our new CEO. Christian Stendevad is a great match to Penneo and has solid experience within the digital identity space and in scaling a SaaS business. Christian Stendevad will work closely with the strong Penneo organisation to continue the company's expansion strategy and further unfold Penneo's full potential. Christian Stendevad will draw on his industry experience from successfully co-heading Omada’s international growth journey to ensure the execution of our expansion strategy as well as to further internationalize the company. I and the rest of the Board would like to thank Nicolaj Højer Nielsen for his contribution as Interim CEO.

Nicolaj Højer Nielsen, Interim CEO in Penneo comments: “I am very excited that Christian Stendevad is joining Penneo. Christian Stendevad has significant execution and management expertise, and I am convinced that he will take Penneo to new frontiers in a solid collaboration with the rest of the Penneo team. 

Christian Stendevad comments: "I am excited to join Penneo and lead the international scaling and growth of the company with the Executive Management. I look forward to teaming up with the rest of the entire Penneo team to further execute the strategy.” 

Consequently, when Christian Stendevad starts as CEO, the Executive Board of Penneo will be comprised of 

• CEO, Christian Stendevad 
• CTO, Jan Flora

Further information

Morten Elk
Chairman of the Board 
Tel.: +45 20 29 75 05

Interim CEO, Nicolaj Højer Nielsen
Mobile (+45) 25 46 25 80

Certified Advisor
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11, Mobile (+45) 31 79 90 00

About Penneo A/S

Penneo A/S (Penneo) is a Software-as-a-Service (SaaS) company, originally focused on delivering the digital pen (Penneo = new pen) back in 2014. Today, Penneo has evolved into an eco-system of automation solutions that digitizes company workflows related to onboarding of customers (KYC), and signing and management of documents in a secure and easy way. The Company offers a RegTech solution that helps companies comply with regulations in an efficient and inexpensive way. Penneo has a strong position in the Nordics and in Denmark, where more than 620.000 people used Penneo’s workflow in 2020.
For information about Penneo visit https://penneo.com/investors/

Appendix

CV for Christian Stendevad 
Date of Birth: 30 July, 1970
Nationality: Danish
Education: Master in Engineering in Electronics, DTU 1994 

Current positions

Omada A/S

• 2010-
  Part of Management

FONDEN 1 JULI 1981

• 2017-
  Beneficial owner 

Previous positions

Omada A/S

• 2020-2021
  Chief Operating Officer 
• 2014-2020
  Executive Vice President, Deputy CEO & Head of Global Sales
• 2010-2014
  Executive Vice President, Head of EMEA Operations & HQ Functions
• 2004-2010
  Executive Vice President, Consulting Services

IBM

• 2002-2004
  Managing Consultant

PwC

• 1995-2002
  Managing Consultant

Framework Digital A/S

• 2017-2017
  Chief Executive Officer

Current board positions

Omada Services A/S

• 2017-
   Board member

Previous board positions

Framework Digital A/S

• 2017-2018 -
  Board member

 J.A. ENGINEERING A/S

• 2008-2011 -
  Board member