Two EVPs leaving Novozymes, changes to management team, new divisional structure

In Denmark, Novozymes is making changes to the Executive Leadership Team and created a new two-divisional structure – Consumer Biosolutions and Agriculture & Industrial Biosolutions – to allow for a stronger differentiation between sustainable solutions with consumer benefits, and sustainable solutions focusing on maximizing yields and optimizing processes for customers.

This approach will drive stronger and broader go-to-market benefits, speed up decision-making, enhance the value offerings and will better connect customer-generated ideas with the R&D organization. Additionally, stronger geographical representation in core decision processes will allow for faster decision-making and enable us to bring more tailor-made solutions to our customers. To increase our focus on commercial excellence, the strategic direction of the company, digital capabilities as well as new business development, a new Executive Vice President (EVP) position has been established to represent these areas on the Executive Leadership Team. To bring increased focus on People, Sustainability and Branding, a new EVP position has been established to represent these areas on the

Ester Baiget, President & CEO: “Together with my leadership team and the Board of Directors, I have recognized the need to further steer Novozymes in a direction where we can better deliver on our priorities and promises. The foundation of our company remains strong, and the fundamentals of the strategy are intact. But we need to change the way we structure ourselves around customers and geographies to reduce complexity, increase accountability, speed up decision-making and empower employees to a higher degree than before. As we equip ourselves to deliver to our full potential, this drives changes to the organization and the Executive Leadership Team. I am certain the new setup is the right approach for both Novozymes and our stakeholders”.

Executive Leadership Team.

• The two new divisions, ‘Consumer Biosolutions’ and ‘Agriculture & Industrial Biosolutions’, are organized around the value chain and customer exposure and allow for a more integrated approach towards end markets defined by common characteristics and value drivers
• The key areas of Research & Development and Operations, Supply & Quality will be directly represented on the Executive Leadership Team, each headed by a dedicated EVP
• A new EVP area, Strategy & Business Transformation, has been established with responsibility forstrategy, digital transformation, commercial excellence, and new business development
• A new EVP area has been established with responsibility for People & Organization, Sustainability and Branding
• A more simplified geographical setup with geographical representation in core decision processes enhances the ability to operate with more agility in the regions allowing for faster and more efficient decision making

Following the new structure and approach, the following changes are being made to the Executive Leadership Team:

• Thomas Videbæk, EVP and COO, will leave the company no later than at the end of 2021. Thomas will act as interim EVP for People & Organization, Sustainability and Branding, as well as EVP Strategy & Business Transformation. He will secure a successful establishment of the two new EVP-areas and leave the company when this has been concluded
• Andrew (Andy) Fordyce, EVP Food & Beverages, will following the establishment of the two divisions step down from his leadership role on the Executive Leadership Team and leave the company before the end of the year.