|Christian Engsted is appointed President and CEO of Martin Professional A/S. The 41-year old Dane who started with the company on May 17th takes over from Kristian Kolding who resigned at the end of 2004.
Prior to his hiring at Martin, Christian worked for SeaWest WindPower, a leading American wind plant developer and operator, where he acted as company head since 2001. He was President of a number of subsidiaries of the ABB Group, a leader in power and automation technologies. Christian's business experience includes periods of residence in Sweden, East Africa and North America.
"Martin is an exciting company with a powerful brand, a very competent staff and a position as a global market leader," Christian commented. "My first challenge will be to restore profits and improve cash flow. The weakening of the US dollar has changed market conditions but with increased focus on our core business, an organisation that adapts to market conditions, and a more flexible cost structure, I see great potential in Martin. I'm looking forward to completing this mission in the coming years with help from my new colleagues."
Jens Bjerg Sørensen, President of Martin Professional owner Schouw & Co., expressed his satisfaction with the hiring. "In Christian Engsted we have found a focused, experienced and competent leader who has proven his ability to create positive changes and results. With Engsted, Martin will have a visionary strategist with vast international experience. The Board is confident that with him at the helm, the recently launched business plan for Martin will be infused with new energy and initiative."