On July 1, Danfoss welcomed Kim Fausing as its new president and CEO. Fausing previously served as executive vice president and chief operating officer since 2008, responsible for all the Danfoss segments as well as Danfoss Business System and Global Procurement. In 2007, he joined Danfoss as president of the Danfoss Refrigeration & Air Conditioning Division.

Fausing 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.

"I have felt at home in Danfoss from day one, and I look very much forward to continuing the journey as CEO. 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. I am looking forward to the new tasks, which I will pursue with great respect. And I look forward to continuing the development of Danfoss together with the strong Danfoss team and the Board of Directors," said Fausing.

Chairman of the Board 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.”

In March this year, Danfoss announced that Niels B. Christiansen had decided to leave the company after nine years as CEO, and Fausing was appointed new CEO.