Nordborg, Denmark – After the Annual General Meeting of Danfoss A/S on Friday, March 25, 2022, the company conducted a board meeting. The Board of Directors constituted itself with Jens Bjerg Sørensen as Chairman.

As previously announced, Jørgen Mads Clausen had informed the Board of Directors that he would resign as Chairman of the Board of Danfoss A/S with effect from the Annual General Meeting to be held on March 25, 2022.

Clausen will remain a member of the Board of Directors until the Annual General Meeting on March 25, 2022, when his current term expires.

The Board of Danfoss A/S nominated current vice chairman Jens Bjerg Sørensen to succeed Clausen as Chairman of the Board after the Annual General Meeting.

Clausen said: “Danfoss is now a stronger, bigger and more global company, but also one with a clear goal of contributing to the green transition and combatting climate change with our energy-efficient products and solutions. This is a result of our business strategy, which is now being updated with an ambitious sustainability strategy. It has been a pleasure to safeguard my parents’ life work for the benefit of Southern Jutland, Denmark, and the world. Now it’s time for the next generation to take the lead. The timing is right for me.”

Clausen was CEO of Danfoss from 1996 to 2008, and Chairman of the Board since the 2009 Annual General Meeting. Despite stepping down from the Board, he intends to maintain his strong commitment to Danfoss. This follows the tradition that started with Bitten Clausen, who was one of the world’s first female board chairs from 1966 to 1971, and later Danfoss’ vice chair until 1989.

Jens Bjerg Sørensen said: “I am honoured to be nominated as the new chairman of the board. Danfoss has an impressive history. The foundation based long-term ownership and the family’s strong values are one of the main reasons why Danfoss now has a decisive influence on whether the world succeeds in the green transition. Danfoss is financially stronger than ever and has developed significantly during Jørgen’s time as chairman. As vice chairman, I have followed the close collaboration between Jørgen and Danfoss’ CEO, Kim Fausing, which I consider crucial to Danfoss’ success. I intend to maintain this together with the new Board of Directors.”

Jens Bjerg Sørensen has been CEO of Schouw & Co. since 2000. In addition to his position as CEO, he is board chairman of a number of companies.