COPENHAGEN, Denmark - February 8, 2016 - Today, Novozymes announces the formation of three divisions: Household Care & Technical Industries, Agriculture & Bioenergy and Food & Beverages. The aim of the organizational change is to enhance Novozymes’ ability to deliver more innovation to customers with more speed and commercial impact.
Furthermore, Novozymes wishes to strengthen its technology and market leadership through the establishment of a central Research, Innovation & Supply organization spanning the value chain from discovery to market.
Changes to the Executive Leadership Team
To lead the three divisions, Novozymes has appointed former Vice President of Sales Tina Sejersgård Fanø as Executive Vice President (EVP), Agriculture & Bioenergy; former Vice President of Sales Anders Lund as EVP, Household Care & Technical Industries; and former EVP, Business Operations, Andrew Fordyce, who will transfer into the role of EVP, Food & Beverages.
The three divisions will be supported by one central Research, Innovation & Supply organization headed by COO & EVP Thomas Videbæk and Corporate Functions headed by CFO & EVP Benny D. Loft. Peder Holk Nielsen will continue as CEO & President. As a consequence of the changes to the organizational structure, Per Falholt, Head of R&D, will step down from the Executive Leadership Team. Mr. Falholt will continue at Novozymes in a consulting role on technology scouting with reference to EVP & COO Thomas Videbæk. Thomas Nagy, Head of Supply Operations, will leave Novozymes.
With effect of today, Novozymes’ organization and Executive Leadership Team look as follows:
President & CEO: Peder Holk Nielsen
Corporate Functions: EVP & CFO Benny D. Loft
Research & Supply: EVP & COO Thomas Videbæk
Agriculture & Bioenergy division: EVP Tina Sejersgård Fanø
Food & Beverages division: EVP Andrew Fordyce
Household Care & Technical division: EVP Anders Lund
The two new members of Novozymes’ Executive Leadership Team have both had a long career within the company. Tina Sejersgård Fanø, 47, holds a Master of Science in Chemical Engineering from the Technical University of Denmark, as well as a bachelor’s degree in philosophy and education from Copenhagen University, Denmark. Tina Sejersgård Fanø started her career with the company in 1993 and has held various positions within R&D, Marketing, Business Development and Sales. Anders Lund, 42, holds a Master of Science in Economics from Aarhus University, Denmark. Anders Lund started his career with the company in 1999 and has held various leadership positions across Marketing, Sales and as Head of Supply Chain.
Peder Holk Nielsen, President and CEO of Novozymes, comments:
“We can make an even bigger difference with our biological solutions than we do today. We have not unlocked our full growth potential. With this change in structure we aim to deliver more significant innovation to our customers faster and create the agility to act swiftly on market needs. This will further strengthen our technology and market leadership. As a result of the change, Per Falholt and Thomas Nagy will step down from the Executive Leadership Team. I would like to express my gratitude to both of them for their long careers with Novozymes and their outstanding contributions in making Novozymes a world leader in industrial biotechnology.”
Financial implications
Novozymes expects that total costs associated with the reorganization will be DKK 60-70 million. The costs are expected to be realized in Q1 2016 and within the financial outlook provided on January 19, 2016; hence the full-year 2016 outlook remains unchanged as communicated in Company announcement no. 1, 2016.
