Nilfisk Strengthens Leadership with Executive Management Changes
Leadership Transitions at Nilfisk
In a significant shift within its Executive Management team, Nilfisk Holding A/S has announced changes aimed at strengthening its leadership framework. Chief Financial Officer Reinhard Mayer will step down on mutual agreement, paving the way for new leadership.
Reinhard Mayer's Legacy
Reinhard Mayer has played an instrumental role during his time at Nilfisk. Under his financial stewardship, the company has seen a robust enhancement in its financial standing. As noted by Peter Nilsson, Chair of the Board, Reinhard's contributions include reducing net interest-bearing debt substantially, which has, in turn, increased profitability and improved EBITDA margins. His era saw the highest gross profit margins recorded since the company went public in 2017.
Jon Sintorn, Chief Executive Officer, echoed Nilsson's sentiments, emphasizing that Reinhard was a pivotal force behind the company's Business Plan 2026. His emphasis on innovative working methods, acceleration of digitalization, and structural efficiencies have laid a solid foundation for Nilfisk's future growth. Reinhard expressed that it has been a privilege to be part of such an esteemed organization, and he looks forward to new opportunities.
Introducing Carl Bandhold
As Reinhard Mayer transitions out, Nilfisk is pleased to announce the appointment of Carl Bandhold as the new CFO and Executive Management Board member, effective March 24, 2025. Carl brings a wealth of experience with previous leadership roles at companies such as Profoto AB, JM AB, and Permobil Group. His expertise spans areas of strategy, M&A, and performance improvement.
Peter Nilsson expressed enthusiasm about Carl’s appointment, noting that his strategic insights and financial expertise will greatly assist in executing the company's business activities moving forward. Jon Sintorn welcomed Carl, highlighting his results-driven approach and his extensive international experience. This aligns with Nilfisk's goal of refining execution towards a more decentralized operational model.
Aligning for Future Success
Carl Bandhold shared his excitement about leading Nilfisk into its next chapter, focusing on the company’s assets and driven business practices that fuel growth, profitability, and cash flow generation. His extensive background, which includes more than a decade at listed companies and a notable consulting career, positions him well to contribute significantly to the organization.
Looking Ahead
The recent leadership changes at Nilfisk reflect a proactive approach to ensuring the company's enduring success. While Reinhard's departure marks the end of an era, the board is optimistic that Carl Bandhold will carry the torch forward, building upon the strengths cultivated during Reinhard's tenure.
The information provided in this announcement does not impact Nilfisk's financial guidance for the upcoming financial year, ensuring that stakeholders can have continued confidence in the company’s trajectory.
Contact Details for Further Information
For inquiries related to investor relations, please contact Cameron Hayes at +45 2271 6217. For communications or media relations, reach out to Nynne Jespersen Lee at +45 4231 0007.
Frequently Asked Questions
What recent changes have been made to Nilfisk's executive team?
Reinhard Mayer is stepping down as CFO, and Carl Bandhold has been appointed as the new CFO, effective March 24, 2025.
Why is Reinhard Mayer leaving his position?
Reinhard has decided to move on to new opportunities, feeling it is the right time after several successful years with the company.
What qualifications does Carl Bandhold bring to Nilfisk?
Carl has extensive financial leadership experience from companies like Profoto AB and JM AB, with a strong focus on strategy and performance improvement.
How does Nilfisk view the changes in leadership?
The Board of Directors is optimistic that Carl's leadership will bolster the company’s future growth and execution of its business plans.
What should stakeholders expect from Nilfisk after these changes?
Stakeholders can expect continued focus on financial stability and growth, following the strategies laid out in Business Plan 2026.
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