Peter Stensgaard Morch was named new CEO of PensionDanmark, Copenhagen, but he won't take on the role until a year after joining the €40 billion ($44 billion) pension fund on Aug. 15.
In that first year, Mr. Stensgaard Morch will focus on the daily operations at PensionDanmark and will join internal central committees, the pension fund said. He is permanent secretary at the Danish Ministry of Finance.
In the interim, CIO Claus Stampe will replace Torben Moger Pedersen as CEO when he steps down in October, according to the fund's website.
Mr. Stensgaard Morch "will bring unique experience from the management of significant public institutions across economy, finance, labor market and welfare," said Lars Sandahl Sorensen, chairman of PensionDanmark's board, in a news release Monday.
"We have found exactly the right way giving Peter Stensgaard Morch the time to get a wide insight into PensionDanmark while the operation is in the safe hands of Claus Stampe and the rest of the management team," Mr. Sandahl Sorensen added in the news release.
A spokesman could not be immediately reached to provide further details.