BALTIMORE - Danfoss A/S, a leader in the development and production of mechanical and electronic components and systems, announced that Jorgen M. Clausen has retired as president and CEO, and Niels B. Christiansen has assumed these positions. Clausen will become chairman of the Denmark-based company after Danfoss’ Annual General Meeting in the spring of 2009.

Christiansen joined the company in 2004 as its chief operating officer and a member of its executive committee. In May 2007, he was promoted to the position of vice-CEO.

“Niels will lead a young, dynamic team and I have great confidence in their collective ability to succeed and drive Danfoss forward,” Clausen said. “During his time at Danfoss, Niels has shown that he is highly capable of renewing our business while affirming the company’s values and history. As a socially responsible innovator in the manufacturing industry, we are committed to engineering technology that conserves energy and slows climate change, and this approach will not change at all.”

Christiansen will head the company’s executive committee, which consists of Executive Vice Presidents Kim Fausing (COO) and Frederik Lotz (CFO).

“I am excited about our opportunities and challenges that lie before us,” stated Christiansen. “We are completely focused on driving our business forward and meeting the needs of our customers in tackling global energy efficiency and conservation issues.”

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Publication date:10/06/2008