Arla Foods has appointed its new Chief Financial Officer (CFO).

Torben Dahl Nyholm, who is described as an "outstanding young leader", will take the financial reigns of the northern European dairy giant with immediate effect.

He currently heads the dairy co-operative's performance management function, and has been reporting directly to CEO Peder Tuborgh since the departure of the former CFO, Natalie Knight, earlier this year.

'Outstanding young leader'

Tuborgh described Nyholm as an "outstanding young leader".

"He has already shown our board of directors and colleagues the strength of his financial governance and the depth and breadth of his understanding of not only our business, but also our co-operative," he said.

"He has worked with me and my executive management team [EMT] to safeguard the safety of our people, operations and finances during what is the most testing global crisis that businesses have faced for many generations.”

[caption id="attachment_506807" align="aligncenter" width="834"]Image Source Arla Foods Website Snip Torben Dahl Nyholm[/caption]

As CFO, Nyholm will have responsibility for the company's finance, legal and IT functions. He joined Arla in 2012, where he started in the position of business controller in group finance, and has since held a number of significant project and leadership roles across finance.

While it may be a challenge, Nyholm said that he is "excited, but at the same time humble" about his appointment to CFO.

It is a great company, where I have been fortunate to work for the last eight years.

"I look forward to working with my great colleagues in our collective endeavour to continue to grow Arla Foods and create value for our farmer owners, by bringing loved brands and great products to our consumers around the world.”

As head of performance management in the past, Nyholm has worked on several collaboration projects, some of which included long-term financial outlook and strategy, and the company's calcium transformation programme.

The role will see Nyholm working with all members of the company, from commercial to supply chain operations and corporate functions.

Nyholm holds an MSc in Finance and International Business from Aarhus University where, earlier in his career, he also lectured part-time in corporate valuation.