News / DSV: tales from the inside with CEO Lund under fire for 'brutal' management style

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DSV shareholders have expressed concern over the reported management style of CEO Jens Lund, while some insiders say the company culture can be toxic. 

A story in business newspaper Børsen last week was headlined: “Verbal abuse and humiliation: employees tell of brutal DSV top boss”. 

Mr Lund joined the Danish giant as CFO in 2002 and has played an instrumental role in DSV climbing to become the world’s largest freight forwarder through a succession of acquisitions. 

The accusations in the Danish paper are based on testimony from 14 current and former DSV employees, most being senior managers whose identities have not been disclosed. 

Børsen highlighted episodes of Mr Lund losing his temper at meetings and he allegedly verbally assaulted employees, slammed his fists into tables and walls or slandered, insulted and humiliated people in front of colleagues. 

A spokesperson for company investor Skagen Fondene told The Loadstar: “The portfolio managers of the relevant funds will raise the issue directly with DSV during their discussions, to hear the company’s view on the matter.” 

A spokesperson for another investor, AkademikerPension, said that “if the reports are to be believed, it appears that DSV is characterised by a leadership culture in need of adjustment and an update. DSV is today a global transport giant, not a small local haulage company in Hedehusene, and to us, it sounds like a culture one should have outgrown long ago. 

“The story certainly does not reflect the values we uphold at AkademikerPension, namely responsibility and long-term returns. From our perspective, well-functioning leadership teams, characterised by openness and emotional safety, are crucial to achieving strong long-term results.” 

The spokesperson continued:  “At the same time, this is merely the latest in a series of governance-related challenges at DSV, and we believe there may be additional issues for the new board to investigate. We will certainly be following developments as closely as we can from our position on the sidelines as a minority shareholder. For now, this does not warrant a change in our investment in DSV. It may even prove to be an opportunity for positive change.” 

DSV initially declined to comment, but as the story continued, Mr Lund responded to Børsen. 

“I’m very direct in my communication to managers at the top levels, both about what is good and what needs to improve. I recognise that some may find this uncomfortable. This is certainly not my goal and therefore something I take to heart and work to do differently. 

“I have always been personally deeply committed and passionate about realising DSV’s full potential. I set very high standards for myself and the rest of the top management of DSV. I do this because I know what we can achieve when we give our absolute best as a team.” 

At the end of the email response, Mr Lund referred to DSV’s own survey, which shows employee satisfaction and loyalty are higher than the industry average.

“Every day I feel my colleagues’ commitment and pride in what DSV is and has achieved. It means a lot to me.” 

Job rating website Glassdoor shows that 64% of its respondents would recommend working at DSV, and the CEO has an 82% approval rating. By comparison, 67% of Kuehne + Nagel staff would recommend it, but only 71% approve of the CEO. 

However, other insiders have described DSV’s company culture as challenging. 

One former key account manager told The Loadstar: “The guys from Road call you, and they are shouting – that’ s how they start the conversation. You are thrown in there, you have to learn by yourself, there is no support. They treat you as a commodity, because it’s all just price, price, price. 

“it’s brutal, to be honest. You work 12 hours a day. You travel a lot. They pay you very well, but they save a lot of costs in some things that maybe are very basic. 

“It’s a difficult company to navigate because it’s very political – and there is a lot of testosterone. 

“I don’t think their culture welcomes women – or foreigners, to some extent.” 

One former senior executive told Børsen “Everyone is afraid of Jens Lund. It’s crazy.” 

Other descriptions of Mr Lund’s management style include “demeaning, bullying and without much trust in the employees”. 

However, the newspaper also quoted three former employees who said they did not recognise the brutal management style attributed to Mr Lund by some of their ex-colleagues. One added: “There are probably some who have got on the wrong side of him, but I’m sure there are many who feel the same way I do.” 

Another took a more pragmatic view of Mr Lund’s management style. 

“Jens Lund has helped drive and mould some things. He has made the organisation more scalable and played a major role in increasing profitability and the ability to integrate companies. You can’t take that away from the man. But the way he does it, his personality and the way he treats people, it’s brutal.” 

Meanwhile the Danish Shareholders’ Association has said it would not interfere.