Proposed changes in the composition of the FLSmidth & Co. A/S Board of Directors
December 20 2024 - 4:00AM
UK Regulatory
Proposed changes in the composition of the FLSmidth & Co. A/S
Board of Directors
COMPANY ANNOUNCEMENT NO. 13-2024
20 December 2024, Copenhagen, Denmark
The FLSmidth & Co. A/S Board of Directors announces the
following proposed changes to the Board ahead of the Annual General
Meeting on 2 April 2025:
- Current Vice Chair, Mads Nipper, is proposed to be elected as
Chair of the Board, succeeding the current Chair, Tom Knutzen, who
has decided to not seek re-election
- Christian Bruch is proposed elected as a new member of the
Board and assume the role of Vice Chair
- Rune Wichmann and Lars Engström are proposed elected as a new
members of the Board
- Daniel Reimann will not seek re-election to the Board
Following a 12-year tenure, Tom Knutzen has decided to step down
as Chair of the Board and not seek re-election. After joining the
Board as a member in 2012, Tom Knutzen was elected Vice Chair in
2017 and Chair in 2022. During his tenure, Tom Knutzen has overseen
a significant company-wide transformation, including; completion of
the acquisition and integration of thyssenkrupp’s mining business;
creation of pure play strategies for the Mining and Cement
businesses with enhanced strategic focus on services and core
technologies; carve out and ongoing exit of all non-core mining
activities; as well as the announced intention to explore
divestment of the Cement business.
Succeeding Tom Knutzen, the Board recommends the election of
Mads Nipper, who has been a member of the Board since 2022 and
serves as the current Vice Chair. Mads Nipper has an extensive
experience within management of global companies as well as the
personal qualifications required to be Chair. Mads Nipper currently
serves as CEO of the multinational renewable energy company Ørsted
in Denmark and previously served as CEO of Grundfos and CMO at
Lego.
Daniel Reimann, who was elected to the Board in 2023, will not
seek re-election at the Annual General Meeting in April 2025.
Three new profiles proposed to join the
Board
Christian Bruch has a doctorate in Engineering from the Swiss
Institute of Technology Zurich. He brings close to 25 years of
management experience in various industries with a special focus on
process and energy technologies . Christian has since 2020 served
as the President and CEO of Siemens Energy. Prior to that he held
various executive roles with Linde AG, most recently in the
Executive Board being responsible for the Engineering Division,
Technology & Innovation and Digitalisation. Christian Bruch is
proposed to assume the role of Vice Chair.
Rune Wichmann will contribute with his experience from Private
Equity and Consulting including strategy development, aftermarket
commercial excellence, M&A, capital markets, finance and
accounting. Rune has since 2022 served at Altor Equity Partners,
currently as a Partner, and prior to that he served for more than
17 years at Bain & Company and Qvartz, latest as a Senior
Partner. Rune has a MSc in Economics from the University of
Copenhagen.
In addition, the Board proposes to elect Lars Engström as a
member of the Board. This proposed expansion of the Board is
recommended to further strengthen and broaden the competencies of
the Board in terms of industry specific knowledge as well as
broad-based global industrial experience to ensure FLSmidth is even
stronger positioned for its future transformation and growth
journey.
Lars Engström brings a wealth of global mining industry and
industrial experience stemming from a distinguished career spanning
more than 30 years with executive roles at Sandvik, Atlas Copco,
Munters Group and BE Group. In his latest role Lars served as the
President of the Mining & Rock Technology Business Area at
Sandvik. Today, Lars serves as a Board Professional and serves on
the Boards of Kalmar Oyj, Normet Group Oy and Alcadon Group as well
as serves as an Advisor to Boart Longyear. Lars has a MSc in
Industrial Engineering and Management from Linköping Institute of
Technology.
Full information on the proposed members of the Board of
Directors will be provided in the notice convening the Annual
General Meeting, which will be disclosed in late February or early
March 2025.
Contacts:
Investors Relations
Andreas Holkjær, +45 24 85 03 84, andh@flsmidth.com
Jannick Denholt, +45 21 69 66 57, jli@flsmidth.com
Media
Jannick Denholt, +45 21 69 66 57, jli@flsmidth.com
About FLSmidth
FLSmidth is a full flowsheet technology and service supplier
to the global mining and cement industries. We enable our customers
to improve performance, lower operating costs and reduce
environmental impact. MissionZero is our sustainability ambition
towards zero emissions in mining and cement by 2030. We work within
fully validated Science-Based Targets, have a clear commitment to
improving the sustainability performance of the global mining and
cement industries and aim to become carbon neutral in our own
operations by 2030. www.flsmidth.com.
- FLSmidth Company Announcement no. 13-2024
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