LTP Group A/S changes in management
Following 8 successful years, Morten Østergaard steps down as CEO of LTP Group. He continues as a member of the Board of Directors, and is still a co-owner of the company.
LTP Group is a production partner for a large number of well-known European brands in the clothing and furniture industry. Over the past 7 years, LTP Group has tripled its revenue, which in 2019 reached the record level of DKK 726 million with a profit before tax of DKK 70 million.
Morten Østergaard explains: “We have achieved really good results in recent years. Our experienced team has worked hard to win customer trust, and it has been rewarded with strong growth. Our position is solid both financially and in the market. We are today a development and production partner for approximately 100 strong brands in sports / outdoor clothing, sustainable fashion and design & contract furniture industry. Everything created by virtue of the culture we have built LTP around. The company is development-oriented and resilient, which we have benefited greatly from this year, when Covid-19 made market conditions difficult.”
Morten Østergaard comment on the change of management in LTP as follows:
“I have spent most of my energy on LTP for 8 years. I have now decided to create space for new directions. Both for LTP and me personally.
We have a new strong team ready, which has the competencies to take LTP to the next level. Our ambition is to be the globally preferred partner for customers in our industries”.
A new three-member executive board will take over the responsibility and continue the company's growth strategies: Camilla Deichmann, Henrik Holmgaard Olsson and Jeannett Hvidkjær will form the new executive board, which in future will lead the company's 2 divisions, 9 factories and approx. 2000 employees.
The company's chairman of the board, Jan Jakobsen, comments: “We have known for a while that this change was going to happen, and we have prepared well. It is a skilled new team that takes over. LTP has developed strongly in recent years, and continues to have great potential, which the new management will take the lead to unleash.”
About LTP Group
LTP Group is production partner for a number of brands in the clothing and furniture industry with factories in Lithuania, Vietnam, Ukraine and Belarus. LTP consists of 2 divisions: LTP Garment and LTP Contract furniture as well as the co-ownership of the home furniture manufacturer Theca A / S. See more at ltpgroup.com
For more information:
Morten Østergaard, Phone: + 45 26 15 35 07
Jan Jakobsen, Phone: + 45 23 42 26 28