FLSmidth Group CFO To Step Down

FLSmidth announced that Lars Vestergaard, its Group Chief Financial Officer, will step down and leave FLSmidth effective immediately. The Board of Directors have decided a different set of competences is needed to strengthen our organization and execute as planned on our long term financial targets, the group said in a statement. Chairman of the Board of Directors, Vagn Sorensen and Group CEO Thomas Schulz:

“We appreciate Lars Vestergaard’s commitment and dedication to FLSmidth. We have created a stronger and focused organization. We wish to thank Lars Vestergaard for his contribution to these important milestones.”

A new Group Chief Financial Officer (CFO) has been selected and will join FLSmidth on or before July 1, 2020. A formal announcement will be made in due time. In the interim, Naja Barrisøe, currently VP, Head of Group Reporting and Compliance, will be acting CFO, the statement continued. The change of the executive leadership has no impact on the 2019 financial guidance.