The NKT Board of Directors has announced that Michael Hedegaard Lyng, President and CEO of NKT A/S and NKT, will be replaced by CFO Roland M. Andersen, who will act as Interim CEO.
Chairman of the Board of Directors, Jens Due Olsen says, “I would like to thank Michael Hedegaard Lyng for his commitment to NKT since he joined the company in 2007. He has headed the transformation of the cables business since 2014, which was strongly accelerated by the acquisition of ABB HV Cables. Furthermore, Michael was instrumental in the split of NKT into two separate listed companies.”
The Board of Directors is fully committed to the company’s EXCELLENCE 2020 strategy and to accelerate the journey towards improved profitability and future growth.
The Board reports that the search for a new CEO of NKT will be initiated shortly.