New Chief Financial Officer to start January 2007

Claus Michelsen, Chief Financial Officer of Nilfisk-Advance for the past 6½ years, is to leave the company. His successor will take up his appointment at the start of January 2007.

Claus Michelsen (45) is resigning as CFO of Nilfisk-Advance at the end of this month to seek new challenges. Claus Michelsen joined Nilfisk-Advance in 2000 and became a member of the Executive Board with responsibility for the Group’s finance, accounting, IT and HR functions. In this connection Claus Michelsen was also responsible for a number of general projects relating to business processes, optimisation and integration measures. The Board of Directors of Nilfisk-Advance wishes to thank Claus Michelsen for his efforts on behalf of the Company.

New chief financial officer with international business experience
An employment contract has been signed with an extremely well-qualified successor to Claus Michelsen. The person concerned will probably not be able to leave his present post before the end of 2006. Various considerations therefore preclude us as yet from publishing the name of Nilfisk-Advance’s new CFO, but we can reveal that he gained a MSc. degree in Business Administration and Auditing in 1990 and became a state-authorised public accountant in 1995.

From 1989 to 1997 he was employed with a leading, international firm of auditors where he was responsible for accounting and related assignments on behalf of major multinationals. During this period he was stationed for a lengthy period in the UK.

In 1998 he was recruited by a large group with global operations. He started his career with the group as CFO, after which he became chief executive of one of the group’s Danish business units.

Having successfully turned this business around he was appointed CEO of one of the group’s foreign subsidiaries where his area of responsibility includes business units in the UK, Ireland and Asia. Nilfisk-Advance’s future CFO is currently resident outside Denmark.

Member of the Executive Board
On taking up his appointment the new CFO will become a member of the Nilfisk-Advance Executive Board which currently consists of Jørgen Jensen (CEO), Christian Cornelius-Knudsen, Anders Terkildsen and Dan Stig Jensen. The new CFO will thus become the fifth member.