Former Ørsted CEO Mads Nipper will step down as chairman of the board of directors of FLSmidth at the annual general meeting in March. FLSmidth writes this in a company announcement.
Instead, another Ørsted profile in the form of Lene Skole will be nominated to the board of directors with the aim of appointing her as the new chairman. Lene Skole is currently CEO of the Lundbeck Foundation and Chairman of Ørsted's Board of Directors.
FLSmidth has been undergoing a transformation in recent years, where the company has gone from operating in both the cement industry and the mining industry to today being focused only on the mining industry.
- After a successful transformation, FLSmidth is now a smaller and more focused company, and we have decided that the composition and focus of the board of directors should also reflect this, says Mads Nipper in the announcement.
Therefore, he has decided that it is time to step down as chairman, it says.
Mads Nipper has served on FLSmidth's board of directors since 2022 and has been chairman for almost a year. Until February 2025, he was CEO of Ørsted. He was dismissed because the board of directors, led by Lene Skole, believed that the business needed new eyes.
FLSmidth's vice-chairman, Christian Bruch, and board member Thrasyvoulos Moraitis have also decided not to seek re-election at the upcoming general meeting, which will be held on March 24, FLSmidth writes.
Earlier in February, Toni Laaksonen was appointed as the new CEO of FLSmidth. This happened after Mikko Keto announced at the end of 2025 that he would step down as CEO of FLSmidth to instead become CEO of the Swiss packaging company Sig Group.
In June 2025, after a long search, FLSmidth was able to announce that it had reached an agreement with the private equity fund Pacific Avenue Capital to sell its cement business. FLSmidth now produces exclusively equipment for the mining industry.
In the company announcement on Monday, FLSmidth said that the board of directors, together with the executive board, are well advanced in their work on the next strategic phase for the company. It is expected to be presented at a capital markets day later this year.
/ritzau/
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