On July 1, Danfoss welcomed Kim Fausing as its new president and CEO.
Fausing, who for the past nine years has served as Danfoss’ chief operating officer, steps into the role after the planned departure of Niels B. Christiansen, with whom he had worked closely to create strong financial results, a high-performing organization, and growth, and put a digital transformation on track.
In March this year, the firm announced that Christiansen had decided to leave the company after nine years as CEO, and Fausing was appointed as the new CEO.
"I have felt at home in Danfoss from day one, and I look very much forward to continuing the journey as CEO,” Fausing said. “In the management team, we have defined the strategy and future direction for Danfoss, and we will continue to follow the plans we’ve made. We have a good momentum, and we make significant investments in growth and digital transformation in order to stay ahead of competition and serve our customers in the best possible way.”
Prior to his new role, Fausing was the company’s executive vice president and COO since 2008, thus responsible for all Danfoss segments as well as Danfoss Business System and Global Procurement. In 2007, he joined Danfoss as president of the Refrigeration & Air Conditioning Division.
Before joining Danfoss, Fausing was employed in the Hilti Corp. from 1990 to 2006, a family-owned company headquartered in Liechtenstein with more than 21,000 people worldwide. He held a range of international positions at Hilti and, in 2003, was appointed division president and member of the Group Executive Management Team at the company’s headquarters.
Danfoss Chairman Jørgen M. Clausen said: “I am very pleased that we have such a highly competent successor in Kim Fausing, who for the past nine years has also played an important part in driving the positive development. Danfoss can continue the positive development, with good growth, investing in digitization and reaping constant improvements from the engine room.”
Fausing holds a degree in mechanical engineering and an MBA from Henley. His board activities include deputy chairman in SMA Solar Technology AG, Germany; and board member in Hilti AG, Liechtenstein.