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Fibertex Realigns Management

November 30, -0001

Since January 2008, Fibertex has been operating under new management with two top executives being responsible for their business areas. More recently, the Aalborg, Denmark-based nonwovens producer has named these two executives—Mikael Axelsen and Jørgen Madsen—CEOs for their respective business areas. In addition to the two CEOs, Ole Houmann, CFO, is now also part of the group's management.

"The chosen structure has proved itself to be very efficient and successful for our daily work. Both business areas have introduced significant efficiency measures, invested in the latest technology and now have state-of-the-art plants and trimmed organizations," said Jens Sørensen, CEO of Fibertex parent Schouw & Co. and deputy chairman of the Fibertex board of directors. He emphasized that the structure ensures top management power close to the businesses.

Mr. Axelsen will serve as CEO of Fibertex's personal care division while Mr. Madsen is CEO of the technical division.
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