GlobalConnect has today announced that its CEO, Martin Lippert, will step down later this year.

Lippert will be replaced by the group's current CFO, Lasse Pilgaard, who will take the helm from September 1.

According to the Nordic fiber group, the transition comes after Lippert requested to step down from his role after 13 years in the role.

GlobalConnect is a fiber broadband and data center operator. The company owns a 244,000km fiber network across Denmark, Norway, Sweden, Germany, and Finland.

Last year, the company posted total revenue of SEK 8 billion ($862 million).

"Under Martin Lippert’s strong leadership, GlobalConnect has developed into one of the leading providers of digital infrastructure. On behalf of the board of directors, I would like to thank Martin for his significant contribution, which has resulted in more than a decade of consistent growth. Through the consolidation of national fiber companies, GlobalConnect today stands as a critical infrastructure provider across the Nordic region," said Eric Elzvik, chairman of the board of directors for GlobalConnect.

Lippert noted that the "time is right" for his exit as CEO. He became CEO of GlobalConnect in 2018 following the merger with the Norwegian telecommunications company Broadnet, where he had served as CEO since 2013.

"I have long been determined to step down from my CEO career before turning 60. Now that 2025 has been successfully completed and a strong successor is in place, the timing is right," said Lippert.

His replacement, Pilgaard, joined GlobalConnect as CFO in 2023. During his time at the company so far, Pilgaard has been a member of GlobalConnect’s corporate leadership team, working closely with CEO Martin Lippert and playing a key role in shaping the group’s strategy towards 2030.

"It is a privilege to lead a company with a strong position in the market, a clear strategic direction, and skilled employees who build and operate vital digital infrastructure throughout the Nordic region," says Pilgaard.

GlobalConnect noted that it has hired a new CFO to replace Pilgaard, who the company will announce in the coming weeks.

It was reported last year that GlobalConnect had been put up for sale by its current owner, investor EQT, which wants €8 billion ($9.35bn) for the company it acquired in 2016.