From Lego to pumps: how CEO Mads Nipper turned around Grundfos
COPENHAGEN, Denmark – A move to employ the former chief marketing officer of Lego to CEO of the world’s largest pump company may have seemed risky back in 2014.
It was clear the Danish company wanted to bring some fresh thinking into the company.
At the time, Grundfos was in a tough position: operating profits had been declining from DKK2,035m (US$ 309.1m) in 2011, down year on year to DKK860m (US$130.6m) in 2014.
Working for the world’s largest toy company in the world for 23 years, the move by Mads Nipper could be a called a severe change in his career direction.
Yet the results speak for themselves.
In what seems to be a financial turnaround, the pump company doubled operating profits from DKK860m (US$130.6m) in 2014 to DKK1,900m (US$288.5m) in 2015.
Find out what changes were made by the CEO in the #waterchat video interview below:
About the Author
Tom Freyberg
Tom Freyberg is an experienced environmental journalist, having worked across a variety of business-to-business titles. Since joining Pennwell in 2010, he has been influential in developing international partnerships for the water brand and has overseen digital developments, including 360 degree video case studies. He has interviewed high level figures, including NYSE CEO’s and Environmental Ministers. A known figure in the global water industry, Tom has chaired and spoken at conferences around the world, from Helsinki, to London and Singapore. An English graduate from Exeter University, Tom completed his PMA journalism training in London.