Milestone Systems Names New CFO

Milestone Systems, the open-platform company in IP VMS, hired a new CFO, Lars Larsen. He will be responsible for the finance and human resource operations of the international organization.

“Larsen has a strong profile that is reflected in his previous positions at Carlsberg and Novo Nordisk, but maybe even more relevant for us from his time with such IT companies as Microsoft and Olicom,” said Lars Thinggaard, CEO and President of Milestone Systems.

As VP of Group Finance at Carlsberg Breweries, Larsen was responsible for internal management reporting to the Board of Directors and external reporting to the Copenhagen Stock Exchange. Prior to that Larsen was BM for Microsoft Business Solutions EMEA after the acquisition of Navision where he was Executive VP, CFO, responsible for financial management and the legal department, also providing support for M&A activities. Larsen held similar financial management positions at Olicom, an IT network component provider listed on NASDAQ and the Copenhagen Stock Exchange, and at Novo Nordisk. He holds an Executive MBA and a Bachelor of Science in Business Economics from the Copenhagen Business School.

At Milestone Systems, Larsen's role as CFO will include managing the company's global financial operations including accounting, controlling, risk management, treasury, tax and audits, legal and regulatory affairs as well as potential mergers and acquisitions. With responsibility for also overseeing human resources and administration, he will ensure deeper internationalization and professionalization of the company together with the executive management team. Larsen will also focus on a close relationship with the Chairman of the Board and Index Ventures, who invested US$27.5 million in Milestone Systems in July 2008.
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