Grundfos Appoints New CEO & Group President

BJERRINGBRO, Denmark (March 31, 2014) – Mads Nipper becomes the new CEO and Group President of Grundfos. He comes from a position as executive vice president of LEGO. He will be joining the company August 1, 2014.

Group Chairman of Grundfos, Jens Moberg, emphasizes that Nipper was chosen because of his long and proven record of working in the global marketplace.

“With Mads Nipper on board, we get a highly competent leader who has a solid background in strategy, business development, sales and marketing from the global marketplace. Mads is extremely customer oriented and has, during his career, proved that he is able to create new ways of growing the business. His profile fits extremely well into the Grundfos Group and I am looking forward to working together with him to exploit the huge potential for growth in both our existing and new markets,” says Jens Moberg.

Nipper has worked for the Lego Group for 23 years, and he has numerous directorships in different companies and organizations and holds an MSc and BSc in business administration.

“I am looking very much forward to being a part of the Grundfos Group. I have chosen Grundfos because it is a value-based company, which through quality products enhances the lives of the customers while doing something good for the world at the same time. I have enjoyed every minute of LEGO, a great company with great products and great people. Now, it's time for some new and exciting challenges for me, and I am looking forward to that,” says Mads Nipper.

The Chairman of the Poul Due Jensen Foundation, the main owner of Grundfos, also looks forward cooperating with Mads Nipper.

“I'm very happy with the choice of Mads Nipper as new CEO. I have gotten to know Mads as a great personality who is able to motivate and engage people around him. Moreover, he has tremendous commercial and strategic insight and understanding and a global mindset that will be of great benefit for Grundfos in the future,” Niels Due Jensen says.

Grundfos provides pump solutions water technology. www.grundfos.com

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