Company announcement No. 10 - 2025
DonkeyRepublic Holding A/S announces that Niels Henrik Rasmussen has chosen to step down as Chief Executive Officer, and that Thor Möger has been appointed as his successor as of 03.06.2025.
Earlier this year, CEO Niels Henrik Rasmussen informed the Board of his wish to resign at an appropriate time. Since then, the Board has worked to ensure a smooth and thorough succession process. Today, we are pleased to announce that Thor Möger will take over as CEO of Donkey Republic Holding A/S.
Niels Henrik Rasmussen will support the transition and assist the new CEO during a handover period. A period which takes effect today.
"After nearly three years as CEO of Donkey Republic, I have decided to step down. This has been my own decision, and earlier this year I began a constructive dialogue with the Chairperson of the Board to plan a smooth transition. Looking back, I am incredibly proud of what we have accomplished - including a more balanced organization, more than doubling our revenue from DKK 65 million to DKK 147 million, and improving EBITDA by more than DKK 50 million from DKK (27) million to DKK 25 million. Now, I look forward to taking an extended break to recharge before focusing on new roles within strategic company development in collaboration with entrepreneurs and leadership teams," says Niels Henrik Rasmussen.
"Under Niels Henrik Rasmussen's capable leadership, Donkey Republic has undergone an impressive transformation. He has helped mature the organization and its processes, while significantly improving our financial results. These accomplishments have not only strengthened the company but also made it possible for us to attract a successor of Thor Möger's caliber. We regret Niels Henriks decision to step down, but we are grateful for his contributions and the constructive transition process. With the appointment of Thor Möger - who brings extensive experience from Better Energy and Cowi- we are confident that Donkey Republic is well positioned for the next phase of its growth," says Chairperson Caroline Søborg Ahlefeldt.
"I'm honored to join Donkey Republic as CEO and take on this role with excitement and humility. Donkey Republic is uniquely positioned to support European cities in their green transition through trusted micromobility solutions. High-quality bike sharing must be central to modern urban infrastructure, and our best-in-class platform and talented team are ready to deliver. As we scale our fleet, we anticipate stronger unit economics and financial performance. Achieving this will require sharp execution and close partnerships with municipalities and stakeholders. I'm confident in our mission and proud to lead Donkey Republic into its next chapter of impact and growth.", says Thor Möger, new CEO.
CONTACT INFORMATION
DonkeyRepublic Holding A/S
Skelbækgade 4, trappe B, 4. sal.
1717 København V
www.invest.donkey.bike
Thor Möger, CEO
investor@donkeyrepublic.com
Certified Adviser
HC Andersen Capital
ca@hcandersencapital.dk
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About Donkey Republic
Founded in 2014, Donkey Republic is a Danish purpose driven impact company active in the micro mobility industry. Donkey Republic provides a flexible, affordable and more sustainable way of transportation to the citizens by partnering with the cities.
Donkey Republic is a data driven technology company facilitating bike sharing, and we are able to provide cities and citizens a reliable bike sharing service. Sustainably at its core integrates with the city's public transportation system, by pursuing innovation Donkey Republic develops end-to-end products and services that solve city and riders problems. Riders are able to enjoy a more convenient and high quality ride, with our bike and ebike fleet, designed for durability and optimal maintenance through our servicing software platform. This collaborative dedicated software solution together with our bikes, seeks to improve people's health & well-being, the environment, reducing traffic congestion across cities as well as public space optimisation.
Donkey Republic is a publicly traded company listed on the Nasdaq First North Growth Market. The company was listed in 2021 to onboard investors and support its growth and expansion into the European Market, and to continue securing its foothold and developing its market position in the European Micro mobility space. With thousands of Donkey bikes successfully implemented, Donkey Republic aims to grow its business and fulfill its vision of making urban city life quality better through responsible bike sharing.
