NORDBERG, Denmark—Generations may pass but leadership remains in the family for global power management company Danfoss Co., as it has since its founding in 1933.
Since 1996, Jorgen Mads Clausen has been at the helm for Danfoss, serving as CEO from 1996 to 2008; and as chairman of the board since 2009.
Clausen will step down as chairman at the March 25 annual general meeting for Danfoss, at which time other changes will be instituted as part of a shift in ownership that occurs once a generation for the company.
Clausen will be succeeded by Jens Bjerg Sorensen, former vice chairman.
"Danfoss is now a stronger, bigger and more global company, but also one with a clear goal of contributing to the green transition and combating climate change with our energy-efficient products and solutions," Clausen said. "This is a result of our business strategy, which is now being updated with an ambitious sustainability strategy."
Though he no longer will be on the board of directors, Clausen said in a March 21 release that he will continue to be accessible, embodying a post-leadership legacy begun by Bitten Clausen, widow of Danfoss founder Mads Clausen.