JENSEN Announces CFO Succession Plans

Posted June 7, 2024 at 1:43 pm

Markus Schalch, JENSEN-GROUP’s CFO, has decided to retire from his current position early next year. As a result of Schalch’s retirement, JENSEN’s Board of Directors announced the appointment of Doga Cagdas as the company’s new CFO, effective Oct. 1, according to a news release.

Schalch will continue in his role as CFO until Feb. 2025, while closely working together with Cagdas to ensure a flawless handover. Furthermore, Schalch will remain at the service of the JENSEN-GROUP on a part-time, non-executive basis after stepping down.

Cagdas, who is presently the Group CFO at AGP Glass, brings a wealth of international experience with different companies, and in a variety of leadership roles in finance and administration, controlling and audit, mergers and acquisitions, as well as sourcing, purchasing and supply-chain finance management.

Schalch has been a pivotal member of the Executive Management Team since joining JENSEN-GROUP in 2007 as the company’s CFO. In that capacity, Schalch has significantly contributed to the group’s revenue growth and enhanced profitability. He also played a crucial role in the company’s acquisitions, which further cemented JENSEN-GROUP’s status as a market leader. Schalch’s expertise and leadership have been instrumental to the company’s strategy and garnered him considerable respect from the Board of Directors, the Executive Management Team, and his colleagues and employees all over the world, the company said in its release.

JENSEN-GROUP’s Board of Directors as well as CEO Jesper Munch Jensen want to express their sincere appreciation and gratitude to Schalch for his tremendous loyalty and relentless dedication, the release said.