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Sauer-Danfoss CFO Karl Schmidt Resigns

CHICAGO (AP) ¿ Sauer-Danfoss Inc., which makes hydraulic, electric and electronic systems and components, said Tuesday that Executive Vice President and Chief Financial Officer Karl J. Schmidt has resigned to pursue other interests.

Schmidt will be succeeded by Jesper V. Christensen, effective May 1.

Christensen, 39, previously served as vice president of finance, information technology and human resources for Danfoss A/S's motion controls unit. Danfoss A/S is majority owner of Sauer-Danfoss.

In his new role, Christensen will oversee Sauer-Danfoss' finance, accounting, legal, investor relations, and information technology operations.

The personnel change comes on the heels of Chief Executive David J. Anderson's retirement at the start of the year. Anderson was succeeded by Sven Ruder.

Sauer-Danfoss, which said in January that it planned to lay off between 6 percent and 8 percent of its work force at Ames and Freeport, Ill. sites, had 2008 revenue of $2.1 billion.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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