Generational succession of representatives of the family ownership

Friday, 26 March 2021

It is a great pleasure, that we are now ready to announce the generational succession of the representatives of the family ownership behind Danfoss A/S and Bitten & Mads Clausen’s Foundation.

Peter M. Clausen and Jørgen M. Clausen
Peter M. Clausen (left) and Jørgen M. Clausen (right)

Danfoss A/S and Bitten & Mads Clausen’s Foundation are about to implement a well-planned generational succession of the representatives of its family ownership.

This means that, following decades of passionate contribution to Danfoss and the Foundation, Jørgen Mads Clausen at Danfoss A/S and Peter Mads Clausen at Bitten & Mads Clausen's Foundation will be passing the baton on to the next generation of the family in 2022.

The timing is ideal and will ensure continued stability of the operations of Danfoss A/S and the Foundation. This is particularly crucial at a time when Danfoss is establishing a strong position in the global competition and where the company, actively supported by the Foundation, is investing heavily to ensure future growth and development.

The foundation- and family ownership of Danfoss A/S and Bitten & Mads Clausen’s Foundation is fundamental to ensuring long-term success and in fulfilling the enormous potential of Danfoss, particularly in a world where the green transition is an inevitable challenge.

Danfoss has undergone a significant development and growth and is today one of the world’s leading technology companies, with more than 27,000 employees in over 100 countries. When the acquisition of Eaton Hydraulics is completed later this spring, the number of employees will grow to around 40,000.

Bitten & Mads Clausen’s Foundation, which celebrates its 50th anniversary this year, has developed hand-in-hand with Danfoss and has left its mark on the entire South Jutland region. The Foundation has been instrumental in establishing Universe Science Park, the Gehry Harbor Project on Sønderborg's waterfront, the University of Southern Denmark's Sønderborg Campus and the brand new Alsik Hotel in Sønderborg.

The generational succession has been carefully prepared and planned and will help ensure the continued positive development in Danfoss A/S and Bitten & Mads Clausen’s Foundation while highlighting the Clausen family's historic ties and affiliation with the company and the Foundation. It is emphasized that the Clausen family is deeply committed to continuing the close and trusting cooperation with the executive boards and senior management of both the company and the Foundation.

 

Going forward, the family ownership of Danfoss A/S and the Foundation will be represented as follows:

This means that the family ownership in the future will be represented on the Danfoss A/S' Board of Directors of Danfoss A/S by Mads-Peter Clausen and now also by Mads Clausen.

This means that the family ownership in Bitten & Mads Clausen’s Foundation in the future will be represented by Mads Clausen, Mads-Peter Clausen and Jens Martin Skibsted.

The ownership structure, as well as the strategic direction of Danfoss A/S and the BMC Foundation, will continue unchanged.

Both Jørgen Mads Clausen and Peter Mads Clausen are proud to have the generational succession in place and to be able to ensure the necessary stability in both the Foundation and Danfoss for the next generation. They are very satisfied with Danfoss’ positive development and are delighted that the third generation of the Clausen family is showing its loyalty to the company and the Foundation by now accepting greater responsibility in the future.

Jørgen Mads Clausen and Peter Mads Clausen will continue to support both Danfoss and the Foundation going forward with their insights and with their well-known commitment.

The final set-up, including the distribution of roles on the boards of directors of Danfoss A/S and Bitten & Mads Clausen’s Foundation, will be determined in 2022 at the annual meeting and general meeting respectively.