CEO fired immediately after big NKT downgrade

Danish cable manufacturer NKT will have to find a new CEO following Michael Hedegaard Lyng's dismissal Friday. The company's CTO has been appointed to serve as acting CEO after the downgrade.

by MATHIAS ØRSBORG JOHANSEN

Chief Executive Officer Michael Hedegaard Lyng of Danish cable manufacturer NKT has, as of Friday, been dismissed from his position. The board of directors informs in a press statement that the resignation will take effect immediately.

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