Changes in Novozymes' Executive Management

30-Aug-2007

Novozymes announced that the Board has appointed two new Executive Vice Presidents for Novozymes' Executive Management, namely Thomas Nagy and Thomas Videbæk. Arne Schmidt will be retiring with effect from October 1 after 37 years with Novo Nordisk and Novozymes. There will also be a number of structural changes in the Executive Management and the organization.

Arne Schmidt is retiring having reached the pensionable age for Executive Vice Presidents in accordance with his employment contract, but will continue to serve as a consultant to Novozymes. At the same time the management has decided to implement a number of changes in Novozymes' Executive Management.

The Executive Management will subsequently comprise: Steen Riisgaard( 56, President & CEO), Per Falholt (48, Executive Vice President for Research & Development), and Benny Dalgaard Loft (42, Executive Vice President for Finance, IT, Investor Relations and Legal Affairs).

Peder Holk Nielsen (51, current Executive Vice President for Sales & Marketing, will become Executive Vice President for Enzymes Business with responsibility for Sales, Marketing, Development, Production and Quality for the enzyme business.

Thomas Videbæk, 46, will become Executive Vice President for BioBusiness with responsibility for business development outside the enzyme area, including the three existing businesses: Microorganisms, Biopolymers and Biopharmaceutical Ingredients. Thomas Videbæk will move from a position as Vice President with responsibility for global enzyme sales. Thomas Videbæk is a civil engineer and has a PhD in Biochemistry & Nutrition. Thomas Videbæk has worked for Novo Nordisk and Novozymes for 19 years, initially as a research chemist and subsequently in sales, marketing and logistics, and has been posted with several subsidiaries.

Thomas Nagy, 44, will become Executive Vice President with responsibility for Stakeholder Relations, which covers, among other things, People & Organization, Communication and External Affairs. Thomas Nagy, who has worked for Novo Nordisk and Novozymes for 21 years, is moving from his most recent position as Site President for Novozymes North America. Thomas Nagy is a chemical engineer and has held a number of positions within production, optimization, purchasing and external environment, and has been posted with several subsidiaries.

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