On Wednesday morning, Danfoss dropped a bombshell: After nine years as CEO, Niels B. Christiansen is stepping down from as CEO of Denmark's 14th largest company. During his tenure, the executive has increased the billlion-kroner revenue by almost 50 percent and seen the bottom line go from deficit to the company's best ever result of almost DKK 3 billion after tax.
Given that the CEO has served since 2008, perhaps the departure is not so surprising. It is rare for a CEO to occupy the same chair for such a long period, and the question is, naturally, whether the resignation is Christiansen's way of saying that he had nothing more to offer Danfoss.
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