New CEO at DEIF

Christian Nielsen takes over as CEO in DEIF on 1 September from Toke Foss, who continues in the
company as new chairman of the Board.

"The time for change of CEO is just right as we are seeing a very positive development in DEIF", says
Toke Foss, who as owner and CEO has been in charge of the business for almost 35 years.

Toke Foss replaces Mogens Filtenborg, who resigns after more than 20 years as chairman of the Board
of Directors in DEIF. The Foss family's close involvement in the company is further emphasized by the
fact that Valdemar Foss, Toke Foss' youngest son, joins the Board, where his older brother Frederik Foss
also has a seat. At the same time, the Board of Directors is strengthened with the appointment of
Malene Richter Christensen.

A few months ago, DEIF launched a new, long-term growth strategy focusing on solutions to combat
global warming. The implementation of the new strategy is now in the hands of the new CEO.

"Christian has proven that he can lead a team and create results. Now he has a clear mandate to
implement the strategy to achieve the goals," says Toke Foss, who explains the selection of an internal
candidate with the desire for continuity and for insight into the market, customers, technology and
products.

During the last 25 years, Christian Nielsen has held many different positions at DEIF. As electronics
engineer, he has been deeply involved in product development, while the last years have been
dedicated to leading business development and sales in DEIF globally.

”I am happy that the Board of Directors of DEIF have trusted me with the task of executing the new
strategy. I have a strong belief in DEIF's potential as a global leader in our field. We have a strong legacy,
a clear and ambitious strategy as well as support from the Board of Directors to make the necessary
investments to achieve our growth goals,” says Christian Nielsen.

The climate agenda opens new possibilities


The global focus on climate-friendly and energy-efficient solutions opens up new opportunities for DEIF
that specializes in energy optimization of existing fossil fuel installations, hybrid solutions with batteries
and solar cells for e.g. ships as well as upgrading of existing wind turbines to produce more electricity
and to extend their service life.

”During the coming period, we’ll be hiring more R&D engineers to strengthen our product portfolio and
increase our digitalization competences to meet the demand for climate-friendly solutions. Our
development center is in Denmark, but we increasingly draw on specialized competences from around
the world. Our network of international subsidiaries plays an important role in getting closer to the
customers and helping them improve energy efficiency”, says Christian Nielsen.

For further information please contact Toke Foss, phone: + 45 4070 9600, email: tf@deif.com

Facts about DEIF


Established in Denmark in 1933, the DEIF Group today is a global leader in clean, safe and reliable
control solutions for decentralized power production on land and at sea.

The DEIF Group is family-owned and pursue a long-term strategy of profitable and sustainable growth.
DEIF is a technology-based company that pioneer new control solutions for increased power efficiency,
renewables and hybrid solutions. Today, DEIF has nearly 550 employees in 13 companies worldwide
and is represented in over 50 key markets that all work together to contribute to a sustainable future.


Facts about Toke Foss


Son of DEIF’s founder Erling Foss, Toke Foss has been CEO at DEIF for almost 35 years.

Other positions: Vice Chairman of the Board of Energifonden Skive; Board member of GreenLab Skive
A/S; Vice Chairman in the Danish Government’s Climate Partnership for production companies. Board
Member DI Energi (Danish Energy Industries Federation)

Lives in the Copenhagen area. Married to M.Sc. Economics Diana Hidalgo Foss and has three children,
all of whom are co-owners of the DEIF Group, and hereof two members of the board of DEIF: Frederik
Foss (since 2016) and Valdemar Foss (from 1 September 2021)


Facts about Christian Nielsen


B.Sc. Electronic Engineering from Southern University Denmark. Employed as development engineer at
DEIF in 1996 and has since held different leadership positions in the company. He led DEIF’s wind
activities in China and lived in Shanghai from 2011-13. Since 2018, he has been SVP for Sales and
Business in DEIF.

Lives in Viborg. Married to Christina, high school teacher at Viborg Cathedral School, and has three sons.

Members of the DEIF Board of Directors per 1 September 2021

TF Bw

Toke Foss

Birgitte Brinch 810X510

Birgitte Brinch Madsen

Peter Roepke Portrait BW Small

Peter Røpke

CEO RTX

Malene Richter

Malene Richter Christensen

Frederik Foss Portrait BW Small

Frederik Buciek Foss

Valdemar Foss2

Valdemar Foss

Ole Ravnborg (ORA) Portrait BW Small

Ole Ravnborg

Soren Dahl

Søren Dahl Christensen

Employee Representative

Jacob Danielsen

Jacob Danielsen

Employee Representative