Grundfos Appoints New Member of Group Management

Lars Aagaard has worked for Grundfos since 1992, the latest four years as Managing Director for the largest production company in the Group, Grundfos A/S, and thus heading a company of more than 4,000 employees. Lars Aagaard has a very large share of the outstanding results which Grundfos A/S has achieved working with the management model Business Excellence. This work reached its peak in 2006 when Grundfos A/S won the prestigious European quality award, the EFQM award, recognizing the company’s work with Business Excellence. Lars Aagaard has achieved outstanding results both in Grundfos A/S and in the Grundfos Group by optimising cross functional processes and competent employee involvement. Another outstanding element in his work has been the support to the Group’s globalisation of the production.

The career of Lars Aagaard started in the Danish shipping company A.P. Møller from which he in 1986 graduated as marine engineer. After this he was department manager in a small company, and in 1992 he began his career in Grundfos’ Danish production company. He was heading the establishment of the quality department of the Aalestrup plant. In 1997 he was appointed manager for production technique, and from 1997 to 1999 he completed an MBA in technology management. In 1999 he was appointed plant manager, in 2001 he became member of the management group, and in 2003 he took over the position as Managing Director in Grundfos A/S.

The appointment of Lars Aagaard will – together with the present recruiting process of a new CFO – complete the Group Management of Grundfos, which apart from Lars Aagaard includes the coming CFO, Group President and CEO Carsten Bjerg, and Group Executive Vice Presidents Søren Ø. Sørensen and Carlo Prola.

Until a successor has been found, Lars Aagaard is continuing as Managing Director for Grundfos A/S.