Novozymes' new CEO takes office

Peder Holk Nielsen takes over from Steen Riisgaard in a planned transition, vows to bring more innovation to the market faster.

Today, Peder Holk Nielsen takes office as President & CEO of Novozymes.

“I am proud and honored to lead this great company forward,” says Peder Holk Nielsen. “Novozymes is in a very strong position, and we will continue with our overall strategy. Our success rests on our ability to bring new innovation to our customers, and our ability to find new ways biotechnology can help them improve their products and make more with less. A key focus for me will be to make sure we bring these innovations to the market even faster than we do today.”

Peder Holk Nielsen, 56, has played a central role in the development of Novozymes in its current form. His 28-year career in Novozymes and Novo Industri/Novo Nordisk spans management positions across business development, research and development, quality management and sales and marketing. Up until his appointment as CEO, he served as Executive Vice President and Head of Enzyme Business from 2007-2013.

Peder Holk Nielsen takes over as CEO from Steen Riisgaard, who steps down after 12 years in the company’s top post and 33 years in Novozymes and Novo Industri/Novo Nordisk.

New executive leadership team
The appointment of Peder Holk Nielsen as Novozymes’ new CEO was announced on January 21, 2013, in connection with the company’s full year earnings report.

Novozymes’ Executive Leadership Team as of April 1, 2013:

President & CEO: Peder Holk Nielsen
Business Development: EVP Thomas Videbæk
Business Operations: EVP Andrew Fordyce
Supply Operations: EVP Thomas Nagy 
Research & Development: EVP Per Falholt
Corporate Functions: EVP and CFO Benny D. Loft

The executive management is joined by Andrew Fordyce, 49, former Vice President of Sales and Customer Solutions.

Read more about the executive leadership team.

On January 21, Novozymes also announced new long-term financial targets for the next five years:
#Average organic sales growth of more than 10% (from 2015 onward)
#EBIT margin of more than 24%
#Return on invested capital of more than 22%