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117-673: Vestas Wind Systems A/S is a Danish manufacturer, seller, installer, and servicer of wind turbines that was founded in 1945. The company operates manufacturing plants in Denmark, Germany, the Netherlands, Taiwan, India, Italy, Romania, the United Kingdom, Spain, Sweden, Norway, Australia, China, Brazil, Poland and the United States, and employs 29,000 people globally. As of 2013, it is the largest wind turbine company in

234-625: A Ministry of Environment and was the first country in the world to implement an environmental law in 1973. To mitigate environmental degradation and global warming the Danish Government has signed the Climate Change-Kyoto Protocol . However, the national ecological footprint is 8.26 global hectares per person, which is very high compared to a world average of 1.7 in 2010. Contributing factors to this value are an exceptional high value for cropland but also

351-573: A temperate climate, characterised by cool to cold winters, with mean temperatures in January of 1.5 °C (34.7 °F), and mild summers, with a mean temperature in August of 17.2 °C (63.0 °F). The most extreme temperatures recorded in Denmark, since 1874 when recordings began, was 36.4 °C (97.5 °F) in 1975 and −31.2 °C (−24.2 °F) in 1982. Denmark has an average of 179 days per year with precipitation, on average receiving

468-600: A temperate climate . Denmark exercises hegemonic influence in the Danish Realm , devolving powers to handle internal affairs. Home rule was established in the Faroe Islands in 1948. Greenland obtained home rule in 1979 and further autonomy in 2009. The unified Kingdom of Denmark emerged in the 8th century AD as a maritime power amid the struggle for control of the Baltic Sea . In 1397, it formed

585-558: A two-chamber parliament . Denmark faced war against both Prussia and the Austrian Empire in what became known as the Second Schleswig War , lasting from February to October 1864. Denmark was defeated and obliged to cede Schleswig and Holstein to Prussia . This loss came as the latest in the long series of defeats and territorial losses that had begun in the 17th century. After these events, Denmark pursued

702-568: A Vestas V172 generator with a rotor diameter of 172 meters and a power of 7.2 MW. It is planned to place the towers in Germany and Austria. As of December 2022 Vestas operates a 15 MW wind turbine prototype and claims that it has a capacity factor of over 60%. Vestas operates a blade recycling facility in USA. Denmark – in Europe  (light green & dark grey) – in

819-403: A big-picture thinker, rather than detail-oriented, outspoken rather than reserved, prefer to delegate rather than be hands-on, emphasize what gets done rather than how things are done, and make collaborative rather than unilateral decisions. The CFO must serve as the financial authority in the organization, ensuring the integrity of fiscal data and modeling transparency and accountability. The CFO

936-692: A few key trading posts in Africa and India . While Denmark's trading posts in India were of little note, it played an important role in the highly lucrative Atlantic slave trade , through its trading outposts in Fort Christiansborg in Osu , Ghana through which 1.5 million slaves were traded. While the Danish colonial empire was sustained by trade with other major powers, and plantations – ultimately

1053-536: A framework laid out in the Constitution of Denmark . First written in 1849, it establishes a sovereign state in the form of a constitutional monarchy , with a representative unicameral parliamentary system . The monarch officially retains executive power and presides over the Council of State ( privy council ). In practice, the duties of the monarch are strictly representative and ceremonial , such as

1170-527: A further Danevirke . In the early 11th century, Canute the Great won and united Denmark, England, and Norway for almost 30 years with a Scandinavian army. Throughout the High and Late Middle Ages , Denmark also included Skåneland (the areas of Scania, Halland , and Blekinge in present-day south Sweden) and Danish kings ruled Danish Estonia , as well as the duchies of Schleswig and Holstein . Most of

1287-697: A lack of resources led to its stagnation. In the Thirty Years' War , Christian tried to become the leader of the Lutheran states in Germany but suffered a crushing defeat at the Battle of Lutter . The result was that the Catholic army under Albrecht von Wallenstein was able to invade, occupy, and pillage Jutland, forcing Denmark to withdraw from the war . Denmark managed to avoid territorial concessions, but King Gustavus Adolphus ' intervention in Germany

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1404-468: A policy of neutrality in Europe. Industrialisation came to Denmark in the second half of the 19th century. The nation's first railways were constructed in the 1850s, and improved communications and overseas trade allowed industry to develop in spite of Denmark's lack of natural resources. Trade unions developed, starting in the 1870s. There was a considerable migration of people from the countryside to

1521-488: A relatively high value for grazing land, which may be explained by the substantially high meat production in Denmark (115.8 kilograms (255 lb) meat annually per capita) and the large economic role of the meat and dairy industries. In December 2014, the Climate Change Performance Index for 2015 placed Denmark at the top of the table, explaining that although emissions are still quite high,

1638-603: A rough 2012 it called 2013 one of Vestas’s "best years ever". Vestas also added employees in Pueblo and expected the tower facility to eventually top 500. Vestas stated that it expected to have 2800 employees in Colorado by the end of 2014. As of 2016, Vestas has a US nacelle production capacity of 2.6 GW. In March 2015, Vestas announced it would be upping jobs by 400 at its blade manufacturing facility in Windsor and stated "We had

1755-670: A single unified judicial system – Denmark has one system, Greenland another, and the Faroe Islands a third. However, decisions by the highest courts in Greenland and the Faroe Islands may be appealed to the Danish High Courts. The Danish Supreme Court is the highest civil and criminal court responsible for the administration of justice in the Kingdom. The Kingdom of Denmark is a unitary state that comprises, in addition to metropolitan Denmark, two autonomous territories in

1872-458: A successful test of a stealth wind turbine blade mitigating radar reflection problems for aviation. In December 2010 Vestas were developing the V164 7 MW offshore turbine, with a 164 m rotor diameter. Prototypes of it were manufactured at Lindø (the former Maersk shipyard) due to size, crane and port access requirements. Series production of nacelles for the 32 turbines (256 MW) extension of

1989-575: A total area of 42,943 km (16,580 sq mi), metropolitan Denmark consists of the northern part of the Jutland peninsula and an archipelago of 406 islands. Zealand is Denmark's most populated island, followed by Funen , then the North Jutlandic Island and Amager . Copenhagen, Denmark's capital and most populous city, is located on Zealand and Amager. Denmark has flat, arable land , sandy coasts, low elevations, and

2106-420: A total area of 42,943.9 square kilometres (16,581 sq mi). The area of inland water is 43 km (17 sq mi). The size of the land area cannot be stated exactly since the ocean constantly erodes and adds material to the coastline, and because of human land reclamation projects (to counter erosion). Post-glacial rebound raises the land by a bit less than 1 cm (0.4 in) per year in

2223-522: A total of 765 millimetres (30 in) per year; autumn is the wettest season and spring the driest. The position between a continent and an ocean means that the weather is often unstable. Because of Denmark's northern location, there are large seasonal variations in daylight: short days during the winter with sunrise coming around 8:45 am and sunset 3:45 pm (standard time), as well as long summer days with sunrise at 4:30 am and sunset at 10 pm ( daylight saving time ). Denmark belongs to

2340-457: A union with Norway. After Sweden permanently broke away from the personal union, Denmark tried on several occasions to reassert control over its neighbour. King Christian IV attacked Sweden in the 1611–1613 Kalmar War but failed to accomplish his main objective of forcing it to return to the union. The war led to no territorial changes, but Sweden was forced to pay a war indemnity of 1 million silver riksdaler to Denmark, an amount known as

2457-498: A v80 2.0 MW offshore turbine to Windplus, S.A. (a joint-venture company including Energias de Portugal , Repsol , Principle Power, A. Silva Matos, Inovcapital and Portugal Ventures). The system, known as the WindFloat, consists of a semi-submersible type floating foundation, a conventional catenary mooring, and the wind turbine. The successful deployment represents the first offshore multi-megawatt wind turbine to be installed without

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2574-535: A very successful 2014". In 2015 almost half of all Vestas turbines were going to the American market (nearly 3 GW for US out of 7.5 GW worldwide). Vestas intends to build a blade factory in India in 2016. In 2014 and 2015, 26 dishonest employees were detected with the company's whistleblower program (the first in Denmark), and disciplined. In February 2016, Vestas got its largest order of 1,000 MW (278 x 3.6 MW) for

2691-462: Is a representative democracy with universal suffrage . Membership of the Folketing is based on proportional representation of political parties, with a 2% electoral threshold. Denmark elects 175 members to the Folketing, with Greenland and the Faroe Islands electing an additional two members each—179 members in total. Parliamentary elections are held at least every four years, but it is within

2808-533: Is as much a part of governance and oversight as the Chief Executive Officer (CEO), playing a fundamental role in the development and critique of strategic choices. The CFO is now expected to be a key player in stockholder education and communication and is clearly seen as a leader and team builder who sets the financial agenda for the organization, supports the CEO directly and provides timely advice to

2925-495: Is divided between courts with regular civil and criminal jurisdiction and administrative courts with jurisdiction over litigation between individuals and the public administration. Articles sixty-two and sixty-four of the Constitution ensure judicial independence from government and Parliament by providing that judges shall only be guided by the law, including acts, statutes and practice. The Kingdom of Denmark does not have

3042-482: Is farther from the coast than 52 km (32 mi). On the south-west coast of Jutland, the tide is between 1 and 2 m (3.28 and 6.56 ft), and the tideline moves outward and inward on a 10 km (6.2 mi) stretch. Denmark's territorial waters total 105,000 square kilometres (40,541 square miles). Denmark's northernmost point is Skagen point (the north beach of the Skaw) at 57° 45' 7" northern latitude;

3159-609: Is flat with little elevation, having an average height above sea level of 31 metres (102 ft). The highest natural point is Møllehøj , at 170.86 metres (560.56 ft). Although this is by far the lowest high point in the Nordic countries and also less than half of the highest point in Southern Sweden , Denmark's general elevation in its interior is generally at a safe level from rising sea levels . A sizeable portion of Denmark's terrain consists of rolling plains whilst

3276-590: Is specifically charged with overseeing financial management matters, establishing financial management policies and requirements, and monitoring the establishment and operation of federal financial management systems. OFFM is led by a controller . The CFO Act also established the CFO Council, chair by the OMB Deputy Director for Management and including the CFOs and Deputy CFOs of 23 federal agencies,

3393-729: Is specified given that responsibilities extend to tax and financial reporting . Similarly, financial managers are often qualified accountants . In large companies, CFOs and FDs may hold additional postgraduate qualifications, such as a Master of Business Administration , or Master of Science in Finance ; the Chartered Financial Analyst is also common. These complement the accounting perspective with more general strategic , leadership and financial market considerations, and give exposure to broader financial and operational issues. The federal government of

3510-531: Is the largest lake. The Kingdom of Denmark includes two overseas territories, both well to the west of Denmark: Greenland, the world's largest island , and the Faroe Islands in the North Atlantic Ocean. These territories are self-governing under their own parliaments (the Løgting and Inatsisartut ) and form, together with continental Denmark, part of the Danish Realm , a country. Denmark has

3627-399: Is used in political science as a reference point for near-perfect governance and the term "getting to Denmark" is used to describe how other countries can improve their governments. The etymology of the name "Denmark", the relationship between "Danes" and "Denmark", and the emergence of Denmark as a unified kingdom are topics of continuous scholarly debate. This is centred primarily on

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3744-428: Is well underway, is best-evidenced by the "CEO-in-Waiting" status that many CFOs now hold. Additionally, many CFOs have made the realization that an operating environment that values cash, profit margins, and risk mitigation is one that plays to the primary skills and capabilities of a procurement organization; CFO's have been encouraged to appoint a chief procurement officer (CPO) where this post does not exist, ensure

3861-505: The Älvsborg ransom . King Christian used this money to found several towns and fortresses, most notably Glückstadt (founded as a rival to Hamburg ) and Christiania . Inspired by the Dutch East India Company , he founded a similar Danish company and planned to claim Ceylon as a colony, but the company only managed to acquire Tranquebar on India's Coromandel Coast . Denmark's large colonial aspirations included

3978-554: The Boreal Kingdom and can be subdivided into two ecoregions : the Atlantic mixed forests and Baltic mixed forests . Almost all of Denmark's primeval temperate forests have been destroyed or fragmented, chiefly for agricultural purposes during the last millennia. The deforestation has created large swaths of heathland and devastating sand drifts . In spite of this, there are several larger second growth woodlands in

4095-587: The Eem interglacial period from 130,000 to 110,000 BC . Denmark has been inhabited since around 12,500 BC and agriculture has been evident since 3900 BC. The Nordic Bronze Age (1800–600 BC) in Denmark was marked by burial mounds , which left an abundance of findings including lurs and the Sun Chariot . During the Pre-Roman Iron Age (500 BC – AD 1), native groups began migrating south, and

4212-585: The European Union  (light green) Denmark is a Nordic country in the south-central portion of Northern Europe with a population of nearly 6 million; 770,000 live in Copenhagen (1.9 million in the capital region). It is the metropolitan part, and most populous constituent part of, the Kingdom of Denmark , a constitutionally unitary state that includes the autonomous territories of

4329-693: The Faroe Islands and Greenland in the North Atlantic Ocean . Metropolitan Denmark is the southernmost of the Scandinavian countries, lying south-west and south of Sweden , south of Norway , and north of Germany , with which it shares a short border . As of 2013, the Kingdom of Denmark , including the Faroe Islands and Greenland , had a total of 1,419 islands greater than 100 square metres (1,100 sq ft) in area; 443 have been named and 78 are inhabited. Spanning

4446-1032: The Fosen project near Trondheim in Norway. It costs DKK 11 billion, and should deliver 3.4 TWh per year. In 1Q 2016, the average wind turbine price was 0.83 million Euro per MW, compared to 0.91 a year before. In 2016, Vestas was voted number 7 on the Clean200 list. In 2019, MHI-Vestas received a supply and operations vessel for the Deutsche Bucht Offshore Wind Project , with a further two ships scheduled for other projects. Vestas spent €92 million ($ 128 million), or 1.4% of revenue, on research and development in 2009. It has filed 787 wind turbine patents (227 in 2010) according to United Kingdom Intellectual Property Office (UK-IPO), while General Electric has 666 and Siemens Wind Power has 242. In October 2009, Vestas and QinetiQ claimed

4563-637: The Frikorps Danmark . Iceland severed ties with Denmark and became an independent republic in 1944; Germany surrendered in May 1945. In 1948, the Faroe Islands gained home rule . In 1949, Denmark became a founding member of NATO . Denmark was a founding member of European Free Trade Association (EFTA). During the 1960s, the EFTA countries were often referred to as the Outer Seven , as opposed to

4680-677: The Inner Six of what was then the European Economic Community (EEC). In 1973, along with Britain and Ireland, Denmark joined the European Economic Community (now the European Union ) after a public referendum . The Maastricht Treaty , which involved further European integration, was rejected by the Danish people in 1992; it was only accepted after a second referendum in 1993, which provided for four opt-outs from policies. The Danes rejected

4797-722: The Isle of Wight in England would close due to a lack of UK demand, affecting 525 jobs there and 100 in Southampton. Approximately 25 workers at the wind turbine factory on the island occupied the administration offices in protest on 20 July 2009, demanding nationalisation to save their jobs. In August 2009 Vestas hired more than 5,000 extra workers for its new factories in China , the United States , and Spain . The company said it

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4914-695: The Jelling stones , the Danes were Christianised around 965 by Harald Bluetooth , the son of Gorm and Thyra . It is believed that Denmark became Christian for political reasons so as not to get invaded by the Holy Roman Empire . A rising Christian power in Europe, the Holy Roman Empire was an important trading partner for the Danes. As a deterrent against this threat, Harald built six fortresses around Denmark called Trelleborg and built

5031-463: The Jutland peninsula and an archipelago of 406 islands . Of these, the largest island is Zealand , on which the capital Copenhagen is situated, followed by the North Jutlandic Island , Funen , and Lolland . The island of Bornholm is located some 150 km east of the rest of the country, in the Baltic Sea . Many of the larger islands are connected by bridges; a bridge-tunnel across

5148-541: The Kalmar Union with Norway and Sweden. This union persisted until Sweden's secession in 1523. The remaining Kingdom of Denmark–Norway endured a series of wars in the 17th century that resulted in further territorial cessions . A surge of nationalist movements in the 19th century were defeated in the First Schleswig War of 1848. The adoption of the Constitution of Denmark on 5 June 1849 ended

5265-655: The North Atlantic Ocean : the Faroe Islands and Greenland . They have been integrated parts of the Danish Realm since the 18th century; however, due to their separate historical and cultural identities, these parts of the Realm have extensive political powers and have assumed legislative and administrative responsibility in a substantial number of fields. Home rule was granted to the Faroe Islands in 1948 and to Greenland in 1979, each having previously had

5382-470: The TOP500 -list of the world's most powerful computers calculating worldwide weather in a 3x3 km grid, and it delivers daily weather reports to the newspaper Ekstra Bladet and similar purposes. In 2012, Vestas donated the older 1344- core supercomputer from 2008 to Aalborg University . In October 2011, Vestas participated in the deployment of a floating wind turbine offshore of Portugal. Vestas supplied

5499-797: The United Kingdom and joined the League of Armed Neutrality with Russia , Sweden, and Prussia . British fears that Denmark-Norway would ally with France led to two attacks against Danish targets in Copenhagen in 1801 and 1807 . These attacks resulted in the British capturing most of the Dano-Norwegian navy and led to the outbreak of the Gunboat War . British control of the waterways between Denmark and Norway proved disastrous to

5616-401: The absolute monarchy and introduced the current parliamentary system. An industrialised exporter of agricultural produce in the second half of the 19th century, Denmark introduced social and labour-market reforms in the early 20th century, forming the basis for the present welfare state model and advanced mixed economy . Denmark remained neutral during World War I ; Danish neutrality

5733-423: The krone . Denmark is a developed country with a high standard of living , and was the first country to legally recognise same-sex partnerships . It is a founding member of NATO , the Nordic Council , the OECD , the OSCE and the United Nations , and is part of the Schengen Area . Denmark maintains close political, cultural, and linguistic ties with its Scandinavian neighbours. The Danish political system

5850-400: The Øresund connects Zealand with Sweden; the Great Belt Fixed Link connects Funen with Zealand; and the Little Belt Bridge connects Jutland with Funen. Ferries or small aircraft connect to the smaller islands. The four cities with populations over 100,000 are the capital Copenhagen on Zealand; Aarhus and Aalborg in Jutland; and Odense on Funen. The metropolitan part occupies

5967-422: The 70-person staff advisory department 'Vestas Excellence', responsible for securing competitiveness, handling suppliers, quality assurance and globalization . In January 2012, the company suggested firing 1,600 out of its 3,000 U.S. workers if the U.S. did not renew the 2.2 cents-per-kilowatt-hour Production Tax Credit , which was extended in 2013. On 13 August 2012, an estimated 90 workers were laid off from

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6084-605: The 8th to the 10th century the wider Scandinavian region was the source of Vikings . They colonised, raided, and traded in all parts of Europe. The Danish Vikings were most active in the eastern and southern British Isles and Western Europe . They settled in parts of England (known as the Danelaw ) under King Sweyn Forkbeard in 1013, and in France where Danes and Norwegians were allowed to settle in what would become Normandy in exchange of allegiance to Robert I of France with Rollo as first ruler. Some Anglo-Saxon pence of this period have been found in Denmark. Denmark

6201-414: The 90 MW Burbo Bank Offshore Wind Farm occurs at Lindø, while blades are made at Vestas' Isle of Wight facilities in England. DONG Energy tested a prototype in the sea off Frederikshavn in 2013, at a cost of DKK 240 million. A V164 was installed for testing in Østerild Wind Turbine Test Field in 2014, later uprated to more power. In June 2011, the Vestas supercomputer Firestorm was number 53 on

6318-427: The Act, the CFO, regardless of their status as a Key Management Personnel (KMP), is required to sign the financial statements as they are responsible for overseeing the financial operations of the entire company. Their responsibilities include financial planning and monitoring cash flow. In some companies, the CFO and Finance Director positions may be held by the same individual interchangeably. As an internal member of

6435-404: The Danes, one of the ethnic groups from whom modern Danes are descended. The Danevirke defence structures were built in phases from the 3rd century forward and the sheer size of the construction efforts in AD 737 are attributed to the emergence of a Danish king. A new runic alphabet was first used around the same time and Ribe , the oldest town of Denmark, was founded about AD 700. From

6552-462: The Danish government refused further co-operation and its navy scuttled most of its ships and sent many of its officers to Sweden, which was neutral. The Danish resistance performed a rescue operation that managed to evacuate several thousand Jews and their families to safety in Sweden before the Germans could send them to death camps. Some Danes supported Nazism by joining the Danish Nazi Party or volunteering to fight with Germany as part of

6669-408: The Danish throne, and Greenland becoming an integral part of Denmark. The centre-left Social Democrats led a string of coalition governments for most of the second half of the 20th century, introducing the Nordic welfare model . The Liberal Party and the Conservative People's Party have also led centre-right governments. Located in Northern Europe , Denmark consists of the northern part of

6786-437: The Faroe Islands. The Folketing is also responsible for adopting the state's budgets , approving the state's accounts, appointing and exercising control of the Government, and taking part in international co-operation. Bills may be initiated by the Government or by members of parliament . All bills passed must be presented before the Council of State to receive Royal Assent within thirty days in order to become law. Denmark

6903-415: The Key Managerial Personnel (KMP). The Act does not impose any specific regulations regarding the compensation of a Chief Financial Officer (CFO), unless they serve on the Board of Directors or hold additional managerial responsibilities alongside their role as CFO. Additionally, the Act does not outline any specific qualifications required for the appointment of a CFO. However, according to Section 134(1) of

7020-406: The Nordic colonies, Denmark continued to rule over Danish India from 1620 to 1869, the Danish Gold Coast (Ghana) from 1658 to 1850, and the Danish West Indies from 1671 to 1917. A nascent Danish liberal and national movement gained momentum in the 1830s; after the European Revolutions of 1848 , Denmark peacefully became a constitutional monarchy on 5 June 1849. A new constitution established

7137-418: The OFFM controller, and the Fiscal Assistant Secretary, the head of the Office of Fiscal Service of the Department of the Treasury . Its mandate is to work collaboratively to improve financial management in the U.S. government and "advise and coordinate the activities of the agencies of its members" in the areas of financial management and accountability. OMB Circular A-123 (issued 21 December 2004) defines

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7254-517: The Pueblo facility. In 2013, the tower factory in Pueblo began ramping up to full utilization as orders rebounded from the 2012 slump. Other facilities in Colorado include a further 750 persons employed at a blade manufacturing facility in Windsor, Colorado . Vestas has a nacelle manufacturing facility in Brighton, Colorado . Vestas sold its tower manufacturing facility in Pueblo, Colorado to CS Wind in 2021. Vestas said it decided to build its North American production facilities in Colorado because of

7371-402: The United States has incorporated more elements of business-sector practices in its management approaches, including the use of the CFO position alongside, for example, an increased use of the chief information officer post, within public agencies. The Chief Financial Officers Act , enacted in 1990, created a chief financial officer in each of 23 federal agencies. This was intended to improve

7488-473: The advice of the International Whaling Commission (IWC), having quota decision-making powers. Denmark is ranked 10th in Environmental Performance Index for year 2024. This Index combines various indicators around known issues around the world and measures how good they fit in among each countries on a scale. Denmark scores good in parameters like Agriculture, Climate Change Mitigation, Forests' Net Change In Tree Cover etc. Politics in Denmark operate under

7605-450: The basis for a large fishing industry . Denmark stopped issuing new licences for oil and gas extraction in December 2020. Land and water pollution are two of Denmark's most significant environmental issues , although much of the country's household and industrial waste is now increasingly filtered and sometimes recycled. The country has historically taken a progressive stance on environmental preservation ; in 1971 Denmark established

7722-437: The board of directors." The uneven pace of recovery worldwide has made it more challenging for many companies. CFOs play a more critical role in shaping their company's strategies today, especially in light of the highly uncertain macroeconomic environments, where managing financial volatilities is a centerpiece for many companies' strategies, based on a survey held by Clariden Global. CFOs are increasingly being relied upon as

7839-411: The border forests in south Schleswig . The first recorded use of the word Danmark within Denmark itself is found on the two Jelling stones , which are runestones believed to have been erected by Gorm the Old ( c.  955 ) and Harald Bluetooth ( c.  965 ). The larger of the two stones is popularly cited as the "baptismal certificate" ( dåbsattest ) of Denmark, though both use

7956-503: The cities, and Danish agriculture became centred on the export of dairy and meat products. Denmark maintained its neutral stance during World War I . After the defeat of Germany, the Versailles powers offered to return the region of Schleswig-Holstein to Denmark. Fearing German irredentism , Denmark refused to consider the return of the area without a plebiscite ; the two Schleswig Plebiscites took place on 10 February and 14 March 1920, respectively. On 10 July 1920, Northern Schleswig

8073-466: The coastline is sandy, with large dunes in northern Jutland. Although once extensively forested, today Denmark largely consists of arable land . It is drained by a dozen or so rivers , and the most significant include the Gudenå , Odense , Skjern , Suså and Vidå —a river that flows along its southern border with Germany. The country has 1008 lakes, 16 have an area of more than 500 hectares (1,200 acres). Lake Arresø , located northwest of Copenhagen,

8190-411: The company merged with the Danish wind turbine manufacturer NEG Micon to create the largest wind turbine manufacturer in the world, under the banner of Vestas Wind Systems. After a sales slump and an operational loss in 2005, Vestas recovered in 2006 with a 28% market share and increased production although market share slid to between 12.5% and 14%. Vestas began a whistleblower program in 2007, among

8307-520: The company: from €166 million losses in 2011 and increasing to €963 million in 2012. In September 2013, Vestas made a joint venture for offshore wind turbines with Mitsubishi Heavy Industries creating MHI-Vestas, including the 7-9 MW Vestas V164 , the most powerful turbine on Earth. In October 2013 Vestas sold its four casting and two machining factories to VTC Partners GmbH. In May 2014, Vestas announced it would be adding hundreds of jobs to its Colorado Windsor and Brighton facilities and following

8424-474: The country and, in total, 12.9% of the land is now forested. Norway spruce is the most widespread tree (2017); an important tree in the Christmas tree production . Denmark holds a Forest Landscape Integrity Index mean score of 0.5/10, ranking it 171st globally out of 172 countries—behind only San Marino . Roe deer occupy the countryside in growing numbers, and large-antlered red deer can be found in

8541-411: The country was able to implement effective climate protection policies. In 2020, Denmark was placed first in the index again. In 2021 Denmark, with Costa Rica, launched the "Beyond Oil and Gas alliance" for stopping use fossil fuels. Denmark's territories, Greenland and the Faroe Islands , catch approximately 650 whales per year. Greenland's quotas for the catch of whales are determined according to

8658-594: The ensuing peace settlement , Denmark managed to maintain its independence and regain control of Trøndelag and Bornholm. Attaining great popularity following the war, Frederick III used this to disband the elective monarchy in favour of absolute monarchy , which lasted until 1848 in Denmark. Denmark tried but failed to regain control of Scania in the Scanian War (1675–1679). After the Great Northern War (1700–21), Denmark managed to regain control of

8775-643: The euro as the national currency in a referendum in 2000 . Greenland gained home rule in 1979 and was awarded self-determination in 2009. Neither the Faroe Islands nor Greenland are members of the European Union, the Faroese having declined membership of the EEC in 1973 and Greenland in 1986, in both cases because of fisheries policies. Constitutional change in 1953 led to a single-chamber parliament elected by proportional representation, female accession to

8892-540: The executive branch, the Cabinet is responsible for proposing bills and a budget, executing the laws, and guiding the foreign and internal policies of Denmark. The position of prime minister belongs to the person most likely to command the confidence of a majority in the Folketing; this is often the current leader of the largest political party or, more effectively, through a coalition of parties . A single party generally does not have sufficient political power in terms of

9009-664: The expectations of their C-Suite colleagues. Many organizations have created a finance function based on four pillars: the accounting organization as a shared service; an FP&A organization responsible for driving financial planning processes as well as increased insight into financial and non financial KPIs to boost business performance; a finance business partnering organization based on leadership of divisions, regions and performance improvement; and expertise centers specializing in Tax, Treasury, Internal Audit, Investor Relations, etc. According to one source, "The CFO of tomorrow should be

9126-648: The federal government began preparing consolidated financial statements, the Government Accountability Office (GAO) reported that "major impediments continue to prevent [GAO] from rendering an opinion." In December 2006, the GAO announced that for the 10th consecutive year, the GAO was prevented from expressing an opinion on the consolidated financial statements of the government due to a number of material weaknesses related to financial systems, fundamental recordkeeping, and financial reporting. At

9243-424: The finance unit and is the chief financial spokesperson for the organization. The CFO typically reports to the chief executive officer (CEO) and the board of directors and may additionally have a seat on the board. The CFO directly assists the chief operating officer (COO) on all business matters relating to budget management, cost–benefit analysis, forecasting needs, and securing of new funding. Some CFOs have

9360-468: The finding of the Gundestrup cauldron . The tribal Danes came from the east Danish islands ( Zealand ) and Scania and spoke an early form of North Germanic . Historians believe that before their arrival, most of Jutland and the nearest islands were settled by tribal Jutes . Many Jutes migrated to Great Britain , according to legend some as mercenaries of Brythonic King Vortigern , and formed

9477-648: The first in Denmark. On 1 December 2008 Vestas announced plans to expand its North American headquarters in Portland through construction of a 600,000-square-foot (56,000 m) new building, but this plan was mothballed in 2009 due to the economic recession , and in August 2010 the company announced a revised plan, scaled back in size, to expand its Portland headquarters by renovating an existing-but-vacant 172,000 sq ft (16,000 m) building. At that time, Vestas employed about 400 in Portland and committed to add at least 100 more employees there within five years;

9594-609: The first tribal Danes came to the country between the Pre-Roman and the Germanic Iron Age , in the Roman Iron Age (AD 1–400). The Roman provinces maintained trade routes and relations with native tribes in Denmark, and Roman coins have been found in Denmark. Evidence of strong Celtic cultural influence dates from this period in Denmark and much of North-West Europe and is among other things reflected in

9711-543: The formal appointment and dismissal of the Prime Minister and other Government ministers. The Monarch is not answerable for his or her actions, and their person is sacrosanct . Hereditary monarch King Frederik X has been head of state since 14 January 2024. The Danish parliament is unicameral and called the Folketing ( Danish : Folketinget ). It is the legislature of the Kingdom of Denmark, passing acts that apply in Denmark and, variably, Greenland and

9828-601: The government's financial management and develop standards of financial performance and disclosure. The Office of Management and Budget (OMB) holds primary responsibility for financial management standardization and improvement. Within OMB, the Deputy Director for Management, a position established by the CFO Act, is the chief official responsible for financial management. The Office of Federal Financial Management (OFFM)

9945-493: The island of Bornholm . Charles X Gustav quickly regretted not having ruined Denmark and in August 1658, he launched a second attack on Denmark , conquered most of the Danish islands, and began a two-year-long siege of Copenhagen . King Frederick III actively led the defence of the city, rallying its citizens to take up arms, and repelled the Swedish attacks . The siege ended following the death of Charles X Gustav in 1660. In

10062-444: The kite-energy-systems project ERC HIGHWIND, a project at KU Leuven dedicated to the research and development of tethered airfoils dedicated to generating energy by airborne wind energy (AWE). In April 2016, Vestas installed a 900 kW quadrotor test wind turbine at Risø , made from 4 recycled 225 kW V29 turbines. The first three months of testing confirmed theoretical models. Vestas has no immediate plans of commercializing

10179-697: The latter being deeply involved in the Second Northern War (1655–1660), and marched on Bremen-Verden . This led to a massive Danish defeat as the armies of King Charles X Gustav of Sweden conquered Jutland and, following the Swedish March across the frozen Danish straits , occupied Funen and much of Zealand before signing the Peace of Roskilde in February 1658, which gave Sweden control of Scania, Blekinge , Bohuslän , Trøndelag , and

10296-403: The latter two now form the state of Schleswig-Holstein in northern Germany. In 1397, Denmark entered into a personal union known as the Kalmar Union with Norway and Sweden , united under Queen Margaret I . The three countries were to be treated as equals in the union. However, even from the start, Margaret may not have been so idealistic—treating Denmark as the clear "senior" partner of

10413-542: The management responsibilities for internal financial controls in federal agencies and addressed to all federal CFOs, CIOs and Program Managers. The circular is a re-examination of the existing internal control requirements for federal agencies and was initiated in light of the new internal control requirements for publicly traded companies contained in the Sarbanes–Oxley Act of 2002. While significant progress in improving federal financial management has been made since

10530-458: The morpheme "Dan" and whether it refers to the Dani or a historical person Dan and the exact meaning of the - "mark" ending. Most etymological dictionaries and handbooks derive "Dan" from a word meaning "flat land", related to German Tenne "threshing floor", English den "cave". The element mark is believed to mean woodland or borderland (see marches ), with probable references to

10647-410: The new building will have space for up to 600 workers. The company moved its Portland offices to the new headquarters building, a renovated historic building , in May 2012. In February 2009, the company announced the production of two new turbine types, the 3-megawatt V112 and 1.8-megawatt V100. The new models were to be available in 2010. In July 2009, Vestas announced its manufacturing operations on

10764-502: The north and east, extending the coast. A circle enclosing the same area as Denmark would be 234 kilometres (145 miles) in diameter with a circumference of 736 km (457 mi) (land area only: 232.33 km (144.36 mi) and 730 km (454 mi) respectively). It shares a border of 68 kilometres (42 mi) with Germany to the south and is otherwise surrounded by 8,750 km (5,437 mi) of tidal shoreline (including small bays and inlets ). No location in Denmark

10881-530: The number of seats to form a cabinet on its own; Denmark has often been ruled by coalition governments , themselves usually minority governments dependent on non-government parties. Following the 2022 Danish general election in November 2022, incumbent prime minister and Social Democratic leader Mette Frederiksen in December 2022 formed the current Frederiksen II Cabinet , a coalition government with

10998-522: The owners of business information, reporting and financial data within organizations and assisting in decision support operations to enable the company to operate more effectively and efficiently. The duties of a modern CFO now straddle the traditional areas of financial stewardship and the more progressive areas of strategic and business leadership with direct responsibility and oversight of operations (which often includes procurement ) expanding exponentially. This significant role-based transformation, which

11115-463: The parts of Schleswig and Holstein ruled by the house of Holstein-Gottorp in the 1720 Treaty of Frederiksborg and the 1773 Treaty of Tsarskoye Selo , respectively. Denmark prospered greatly in the last decades of the 18th century due to its neutral status allowing it to trade with both sides in the many contemporary wars. In the Napoleonic Wars , Denmark traded with both France and

11232-658: The post-holder is accountable for procurement success, and to become increasingly involved (directly via oversight or indirectly through improved collaboration) with the procurement function according to several research reports which have looked at the CFO's relationship with the procurement function and the CPO. CFOs and FDs often hold a professional accounting qualification - the CPA , CA , CMA , or CIMA - along with its requisite bachelors and/or masters in accounting . The certification

11349-429: The powers of the prime minister to ask the monarch to call for an election before the term has elapsed. On a vote of no confidence , the Folketing may force a single minister or an entire government to resign. The Government of Denmark operates as a cabinet government , where executive authority is exercised—formally, on behalf of the monarch—by the prime minister and other cabinet ministers , who head ministries . As

11466-411: The prototype. Test results were published in 2019, indicating lower costs. As of 2022, Vestas produces the second highest offshore wind turbine in the world, with a blade of 115 meters and an energy power of 15 MW. In September 2022, Vestas unveiled the tallest onshore tower for a wind farm. The 199-meter structure will allow to reach the zone of stronger and more stable winds. It is supposed to install

11583-512: The same time, in calendar year 2007, the CFOC announced that for the second consecutive year, every major federal agency completed its Performance and Accountability Report just 25 days after the end of the fiscal year (2006). As per the provisions of Section 203 of Companies Act 2013 every publicly listed firm having a paid up share capital of Rs. 10 Crores or more is mandated to have a whole time chief financial officer, who must also serve as one of

11700-582: The south-eastern territories of Kent , the Isle of Wight and other areas, where they settled. They were later absorbed or ethnically cleansed by the invading Angles and Saxons , who formed the Anglo-Saxons . The remaining Jutish population in Jutland assimilated in with the settling Danes . A short note about the Dani in Getica by the historian Jordanes is believed to be an early mention of

11817-481: The southernmost is Gedser point (the southern tip of Falster ) at 54° 33' 35" northern latitude; the westernmost point is Blåvandshuk at 8° 4' 22" eastern longitude; and the easternmost point is Østerskær at 15° 11' 55" eastern longitude. This is in the small Ertholmene archipelago 18 kilometres (11 mi) north-east of Bornholm. The distance from east to west is 452 kilometres (281 mi), from north to south 368 kilometres (229 mi). The metropolitan part

11934-476: The sparse woodlands of Jutland. Denmark is also home to smaller mammals, such as polecats , hares and hedgehogs . Approximately 400 bird species inhabit Denmark and about 160 of those breed in the country. Large marine mammals include healthy populations of Harbour porpoise , growing numbers of pinnipeds and occasional visits of large whales, including blue whales and orcas . Cod , herring and plaice are abundant culinary fish in Danish waters and form

12051-407: The state’s central location, extensive transportation infrastructure and rail system, existing manufacturing base, and skilled workforce. In May 2013, Marika Fredriksson became the company's new Executive Vice President and Chief Financial Officer after her predecessor Dag Andresen resigned for personal reasons. Her strategy is to lead Vestas back to higher earnings after the important losses faced by

12168-446: The status of counties . Chief Financial Officer A chief financial officer ( CFO ), also known as, is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances ( financial planning , management of financial risks , record-keeping, and financial reporting , and often the analysis of data ). The CFO thus has ultimate authority over

12285-541: The strategy of their organizations. Half of them also indicated that CEOs counted on them to challenge the company's strategy. The 1990s saw the rise of the strategic CFO, and many companies have created a chief strategy officer (CSO) position. CFOs have become more focused on financial reporting, although 52% still spend much of their time in traditional accounting tasks such as transaction reporting. The rise of digital technologies and focus on data analytics to support decision-making places more pressure on CFOs to meet

12402-523: The title CFOO for chief financial and operating officer . In the majority of countries, finance directors ( FD ) typically report into the CFO, and FD is the level before reaching CFO. The chief financial officer was traditionally viewed as a financial gatekeeper. Over time, the position has become one of an advisor and strategic partner to the CEO. In a 2016 report released by McKinsey & Company , 88 percent of 164 CFOs surveyed reported that CEOs expect them to be more active participants in shaping

12519-489: The union's economy and in 1813 Denmark–Norway went bankrupt. The union was dissolved by the Treaty of Kiel in 1814; the Danish monarchy "irrevocably and forever" renounced claims to the Kingdom of Norway in favour of the Swedish king. Denmark kept the possessions of Iceland (which retained the Danish monarchy until 1944), the Faroe Islands and Greenland , all of which had been governed by Norway for centuries. Apart from

12636-532: The union. Thus, much of the next 125 years of Scandinavian history revolves around this union, with Sweden breaking off and being re-conquered repeatedly. The issue was for practical purposes resolved on 17 June 1523, as Swedish King Gustav Vasa conquered the city of Stockholm . The Protestant Reformation spread to Scandinavia in the 1530s, and following the Count's Feud civil war, Denmark converted to Lutheranism in 1536. Later that year, Denmark entered into

12753-416: The until then leading opposition party Venstre and the recently founded Moderate party . Denmark has a civil law system with some references to Germanic law . Denmark resembles Norway and Sweden in never having developed a case-law like that of England and the United States nor comprehensive codes like those of France and Germany. Much of its law is customary . The judicial system of Denmark

12870-613: The use of any heavy-lift or specialized offshore construction equipment. In 2012, Vestas scaled back and closed some of its R&D offices in Houston, Marlborough, Louisville, China, Singapore and Denmark. In August 2013, Vestas started operating its 20 MW test bench for nacelles in Aarhus. On 5 September 2013, Chris Spruce, Vestas Senior Product Engineer, served as member of the Scientific Advisory Board (SAB) for

12987-457: The word "Denmark", in the accusative ᛏᛅᚾᛘᛅᚢᚱᚴ tanmaurk ( [danmɒrk] ) on the large stone, and the genitive ᛏᛅᚾᛘᛅᚱᚴᛅᚱ "tanmarkar" (pronounced [danmarkaɽ] ) on the small stone, while the dative form tąnmarku (pronounced [danmarkʊ] ) is found on the contemporaneous Skivum stone. The inhabitants of Denmark are there called tani ( [danɪ] ), or "Danes", in the accusative. The earliest archaeological finds in Denmark date back to

13104-649: The world. {{As of|20 ==Historyn/about/profile#!from-1971-1986 |publisher=Vestas |access-date=30 August 2014}}</ref> and produced wind turbines exclusively from 1989. In 1997, the company placed in production the NTK 1500/60. The product was designed by Timothy Jacob Jensen and received the German IF Award and the Red Dot Award. The company's North American headquarters was relocated in 2002 from Palm Springs, California to Portland, Oregon . In 2003,

13221-612: Was "expanding heavily in China and the US because these markets were growing the fastest, in contrast to the sluggish pace of wind farm development in the UK". As part of this gradual shift in production away from Europe and towards China and the US, in October 2010, the company announced it was closing five factories in Denmark and Sweden, with the loss of 3,000 jobs. In November 2010, Vestas shut down

13338-532: Was largely consolidated by the late 8th century and its rulers are consistently referred to in Frankish sources as kings ( reges ). Under the reign of Gudfred in 804 the Danish kingdom may have included all the lands of Jutland, Scania and the Danish islands, excluding Bornholm. The extant Danish monarchy traces its roots back to Gorm the Old , who established his reign in the early 10th century. As attested by

13455-456: Was recovered by Denmark, thereby adding some 163,600 inhabitants and 3,984 square kilometres (1,538 sq mi). The country's first social democratic government took office in 1924. In 1939 Denmark signed a 10-year non-aggression pact with Nazi Germany but Germany invaded Denmark on 9 April 1940 and the Danish government quickly surrendered. World War II in Denmark was characterised by economic co-operation with Germany until 1943, when

13572-513: Was seen as a sign that the military power of Sweden was on the rise while Denmark's influence in the region was declining. Swedish armies invaded Jutland in 1643 and claimed Scania in 1644. In the 1645 Treaty of Brømsebro , Denmark surrendered Halland, Gotland , the last parts of Danish Estonia, and several provinces in Norway. Seeing an opportunity to tear up the Treaty of Brømsebro, King Frederick III of Denmark , in 1657, declared war on Sweden,

13689-550: Was violated in World War II by a rapid German invasion in April 1940. During occupation, a resistance movement emerged in 1943, while Iceland declared independence in 1944; Denmark was liberated after the end of the war in May 1945. In 1973, Denmark, together with Greenland but not the Faroe Islands , became a member of what is now the European Union , but negotiated certain opt-outs , such as retaining its own currency,

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