FLSmidth CEO to retire in 2013, Denmark

Jørgen Huno Rasmussen, age 60, Group CEO of FLSmidth & Co A/S since 2003, is to retire in mid-2013, 10 years after agreeing to join FLSmidth as Group CEO.

Following news of Mr Rasmussen's impending departure, Vagn Ove Sørense, chairman of the board of FLSmidth, said: "On behalf of the board, I wish to express my sincere gratitude to Jørgen Huno Rasmussen for his decisive contribution to the successful turnaround and development of the FLSmidth Group and for his dedicated leadership over 10 years. I am sure Thomas Schulz will prove to be a worthy successor and I look forward to welcoming him to FLSmidth".
 
Thomas Schulz, 47, will be appointed new Group CEO of FLSmidth & Co A/S and is expected to take up his new position no later than 1 June 2013. Mr Schulz, a German citizen, has been part of Sandvik (Svedala Industries) since 1998. He is currently President of Sandvik's Construction business area and member of Sandvik's Executive Management Group, based in Sweden. From 2005-11, Mr Schulz was based in Germany, Sweden and Singapore as President of Construction and Senior Vice President of Mining and Construction.