The Foundation was established in 1999 to commemorate the founder of the A. Wilhelmsen group of companies, the late Mr Anders Wilhelmsen, and his wife Mrs Aslaug Wilhelmsen.

The Foundation has a capital of NOK 42.786.081.

The Foundation is headed by a Board comprising of up to five members. The Board is elected for four-year terms of office.

The day-to-day business of the Foundation is managed by a business manager appointed by the Board.