Niels B Christiansen (left) is stepping down to be replaced by Kim Fausting (right)

DENMARK: Niels B Christiansen is to step down after nine years as CEO of Danfoss. Executive vice-president and COO Kim Fausing will become the new CEO.

Niels B Christiansen joined Danfoss in 2004 with a masters degree in technical engineering and a background in top-level management. This included four years at management consultancy McKinsey & Company, two years as vice-president at tools manufacturer Hilti, and seven years as CEO at Danish telecoms company GN Netcom.

Previously president of Danfoss’ Refrigeration and Air Conditioning Division, Kim Fausing became COO in 2008.

Commenting on Christiansen’s departure, Danfoss chairman Jørgen Mads Clausen said: “Niels’ mission in Danfoss is completed with honours. All financial figures are pointing in the right direction, the business is growing, and the organisation is in great shape. I find it only natural that a CEO after 12 years at the helm would want new challenges and on behalf of the board of directors and myself, I would like to thank Niels for his outstanding leadership of Danfoss.

“At the same time, I am very pleased that we have such a highly competent successor in Kim Fausing, who for the past nine years has also played an important part in driving the positive development of Danfoss,” he added.