Carlsberg Finance Chief Jensen to Exit After 15-Year Tenure

  • Departure is latest step in overhaul of executive management
  • Danish brewer says it will start search for successor

Carlsberg A/S, the world’s fourth-biggest brewer, said Chief Financial Officer Joern P. Jensen will leave the company after 15 years.

Jensen, also the company’s deputy chief executive officer, will depart by the end of this month, Copenhagen-based Carlsberg said Wednesday in a statement.

The exit of Jensen marks the latest step in an overhaul of the brewer’s executive management that saw Cees ’t Hart take over as CEO in June from Joergen Buhl Rasmussen. Hart, the brewer’s first leader from outside Denmark, is grappling with slumping sales in Russia and slower-than-expected cost savings in western Europe that last month led Carlsberg to cut its annual profit forecast.

“Now is the right time for a change for all parties,” Flemming Besenbacher, chairman of Carlsberg’s supervisory board, said in the statement.

Carlsberg shares rose 2.9 percent to 506.5 kroner at 9:14 a.m. in Copenhagen trading.

The brewer, whose brands include Kronenbourg 1664 and Tuborg along with its eponymous lager, said it will start a search for a successor. Jensen has agreed to be available for the next months to finish a number of projects and to hand over to a new CFO, it said.

Jensen was appointed to Carlsberg’s executive board in 2000, and has been CFO since 2004 and deputy CEO since 2007.

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