Lotz Appointed Arla CFO

Frederik will be tasked with strengthening Arla's performance culture and further improving the Group's reporting abilities and financial follow-up in a constantly changing and challenging operating environment.

1 Oct 2009 --- Arla Foods has announced that Frederik Lotz, 40, currently chief financial officer (CFO) at Danfoss has been appointed Arla Foods' new CFO and member of Arla Foods Executive Management Group with effect from 1 January.

Frederik will be tasked with strengthening Arla's performance culture and further improving the Group's reporting abilities and financial follow-up in a constantly changing and challenging operating environment.

In the autumn, the Board of Directors will initiate discussions on the Group's capital structure during which Frederic and other members of the EMG will submit solution models for the Board's consideration. In addition, Frederik will focus on maximising Arla's IT investments.

"Frederik's international experience and dynamism make him the right person for this position," says CEO Peder Tuborgh.

The switch from a family-owned business to a co-operatively owned company like Arla  Foods with approx. 8,000 owners is not too daunting, says Frederik.

"Regardless of whether a company has few or many owners, we must ensure that it has the necessary knowledge about its activities. For me personally, working for so many owners will be a valuable experience," Frederik comments.

Besides financial and legal issues, Frederik Lotz will also have responsibility for IT.

"For me it's important that IT functions as an integral part of the organisation and the business. The dialogue between the business and IT must be strong in order to achieve the best possible results."

Frederik graduated with an MSc in Economics from Copenhagen University in 1995, has an equivalent Master's degree from France and attended the global business school, IMD, in Switzerland.

He will bring substantial international experience to his new role having worked as Finance Manager of A.P. Møller-Mærsk in China, Finance Director for the Asian arm of service company ISS, CFO of the pharmaceutical company Ferrosan and, most recently, CFO Executive Vice President and member of the Management Board of Danfoss.

The position as CFO at Arla Foods has been vacant since April when Jørn Wendel Andersen left the company.