New chairman and vice chairman nominated at FLSmidth

The board of directors at Danish cement and mining equipment and solutions provider FLSmidth has nominated a new chairman and vice chairman ahead of its Annual General Meeting on 30 March.
Concrete Plants, Equipment & Applications / February 17, 2022
By Liam McLoughlin
 Tom Knutzen has been nominated as FLSmidth's new chairman
Tom Knutzen has been nominated as FLSmidth's new chairman

Current vice chairman Tom Knutzen is nominated as new chairman of the board, succeeding current chairman Vagn Sørensen. In addition, Ørsted CEO Mads Nipper has been nominated to join the board and assume the role of vice chairman.

Following an 11-year tenure, Vagn Sørensen has decided to step down as chairman of the board and not seek re-election.

After joining the board in 2009, Vagn Sørensen was elected chairman in 2011. Since then, FLSmidth says that he has overseen the company's impressive transformation from a predominately project business to a frontrunner in sustainability with a strong strategic focus on services, aftermarket and digitalisation.

These accomplishments were recognised by PwC Denmark, who awarded him Chairman of the Year in 2018. Following the launch of the sustainability programme MissionZero in 2019, FLSmidth was one of the first companies in the mining industry to be validated by the Science Based Targets initiative for its carbon emission reduction targets, recently adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TFCD). Sørensen was also the driving force behind a highly successful share expansion in 2021, raising approximately DKK1.5bn to fund the proposed acquisition of thyssenkrupp’s mining business, one of the largest acquisitions in FLSmidth’s 140-year history.

Nominated to succeed Vagn Sørensen, Tom Knutzen has been a member of the FLSmidth board of directors since 2012. He is also chair of the audit committee and a member of the nomination and compensation committee. Knutzen’s career includes his current role as CEO of Jungbunzlauer Suisse, from which he has resigned effective end April 2022, CEO of Danisco, CEO of NKT Holding, and non-executive board positions with Nordea Bank, Chr. Augustinus Fabrikker and Tivoli.

Mads Nipper is the current CEO of the multinational power company Ørsted, which develops, constructs and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Nipper brings a strong international background within renewable energy, energy efficiency, water management and water conservation, which are front and centre of the FLSmidth MissionZero programme. As a member of World Economic Forum’s Alliance of CEO Climate Leaders, he leads the power working group. He is also co-chair of the roundtable of hydrogen production under the European Clean Hydrogen Alliance and is vice chair of the international food company Danish Crown.

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