Engsted holds a B.Sc degree in industrial engineering from Odense University College of Engineering. From 1988 to 2001, he was associated with the ABB Group, and as of 1994 he acted as President of some of its subsidiaries, ending with this position in ABB Service Inc. Since August 2001, he has been the head of SeaWest WindPower, which was recently sold to AES Corporation. SeaWest WindPower is one of the leading American wind plant developers and operators.
Engsted is looking forward to meeting new challenges in Denmark. He says: "Martin is an exciting company with a powerful brand, a very competent staff, and a position as a global market leader. My first challenge will be to restore profits and improve our cash flow. The weakening of the US dollar has changed market conditions. But with increased focus on our core business, intelligent lighting, an organization that adapts to market conditions and a more flexible cost structure, I see great potential in Martin. During the winter the strategic basis was formed and a comprehensive turnaround plan launched. I'm now looking forward to completing this mission in the coming years with help from my new colleagues.
Jens Bjerg Sørensen, president of Martin Professional's owner, Schouw & Co, says: "Many people have shown interest in the position as CEO for Martin Professional. In Christian Engsted, we have found a focused, experienced and competent leader who has proved his ability to create positive changes and results. With Engsted, Martin will have a visionary strategist with vast international experience. The Board is confident that with Engsted at the helm, the recently launched turn-around plan for Martin will be infused with new energy and initiative so that the company can be profitable again as soon as possible.
As of 15 May 2005, Martin Professional's management team consists of CEO/president Christian Engsted, and group director/CFO Lars Dige.
(Lee Baldock)
