Cable supplier NKT has shaken up its organisational structure and announced fresh medium-term financial ambitions for 2030.
The Danish company said in a release: “In the past five years, the European energy transition has accelerated, driven by increased renewable power generation, electrification of societies, and grid modernisation.”
“In anticipation of this, NKT initiated significant investments in physical assets and people across the company, which have fuelled growth in revenues and earnings and increased the order backlog.”
President and CEO of NKT Claes Westerlind said: “It is all about execution, being strong enough to scale up quickly, while preserving our technological differentiation, sharpening our competitiveness, leading in sustainability, and keeping people at the centre.”
NKT’s new financial ambitions include adding more than 7% compound annual growth rate from 2028 to 2030, as well as a goal of over €900m by 2030.
There are also several shakeups at the top of the company.
Darren Fennell, currently Executive Vice President and Head of HV Solutions Karlskrona, will assume the role of Executive Vice President and Head of Transmission.
Raphael Görner will join NKT latest 1 April 2026 as Executive Vice President and Head of Grid Solutions. Until Raphael Görner joins, Will Hendrikx, COO and deputy CEO, will act as interim Head of Grid Solutions.
Lukas Sidler, Executive Vice President and Head of HV Solutions Cologne, and Axel Barnekow Widmark, Executive Vice President and Head of Service & Installation, leave the company by the end of 2025 and latest by the end of the first quarter 2026, respectively.