What would you do if you had a six-figure salary? Perhaps you’d never cook another meal again or indulge in a monthly Thai massage and a Soho House membership to unwind from the stress that comes with being at your A game.
Here at The Good Life you don’t have to imagine what life at the top looks like anymore: Get real-life inspiration for how the most successful live their lives.
Today Fortune meets Kim Povlsen, president and CEO of the Danish robot company Universal Robots.
As Silicon Valley billionaires predict that millions of two-legged robots will walk the earth and take over much of our work in the coming decades, Universal Robots is aiming to create a world where people work with robots.
Universal Robots sold its first robot arm in 2008.
At the time, Povlsen was just graduating as a robotics engineer at the University of Southern Denmark.
90,000
The number of cobots the company has sold.
However, both he and the industry have come a long way since: The now 42-year-old rapidly scaled the ranks from a fresh-faced engineer straight out of college to VP at the automation manufacturer, Schneider Electric, in less than 10 years.
“We’re on a mission to bring automation to anyone, anywhere”.
Kim Povlsen
Now, he is helming Universal Robots, the world’s leading provider of collaborative robots—or cobots, as the company calls them.
“If you haven’t seen one in action yet, chances are you will soon,” the millennial chief tells Fortune. “We’re on a mission to bring automation to anyone, anywhere”
Like his career, automation has really taken off in the last couple of years: The company opened its 100th training center, sold around 90,000 cobots worldwide and just announced key partnerships with Nvidia and Siemens.
The finances
What’s been the best investment you’ve ever bought?
I am a bit obsessed when it comes to coffee, so I have to say my excellent espresso machine from the brand La Marzocco. I bought it three years ago for about $8,000. On those early mornings it makes getting up a whole lot easier.
This goes for me, but also for my wife. She does so much for the kids and me, as I’m often away, and like me, she values a well-made cup of coffee. It allows me to have this thing I can make for her, serving her a perfect cup of coffee with latte art on top.
And the worst?
This is a bit silly and yet something I think a lot of people can relate to.
Many years ago, just before bitcoin took off, I had gotten a bonus, and I heavily considered using this extra cash to invest in this brand-new thing. But having talked to friends and family, I concluded that it was probably too risky and a short-lived trend, so instead I chose to buy some huge new rims for my car at the time, a black Seat Leon. They looked cool, but they made the car quite uncomfortable to drive and six months later I watched as bitcoin skyrocketed.
If you have children, what does your childcare arrangements look like?
I am away from home a lot, but my wife is self-employed, works as a yoga instructor and drives a business with a friend. This means she has the freedom to be at home, which she really likes, as it allows her to be there for our kids aged 10 and 12.
We’ve followed this model since we moved abroad about a decade ago, and it works well for us.
What are your living arrangements like? A swanky apartment in the city or a suburban sprawling?
I used to live in downtown Boston, and I loved it. Those morning walks strolling through the city on my way to work grabbing a coffee on the go were something else. My wife, on the other hand, has always had a dream of living in the countryside. Which means neither of us were dreaming of living in the suburbs, but ironically our life is now very classic suburbia, living in a house just south of Aarhus, Denmark’s second biggest city. It might not be where we pictured ourselves years ago, but it works really well with kids having the school just down the street and friends nearby. And we live very close to the woods and the sea as well.
How do you commute to work?
I usually stay in Odense, where the Universal Robots HQ is, three days a week. That is if I am not travelling. It’s an hour and a half drive from my house in Aarhus, and I love the drive. I do phone calls but it’s also a time when I get to listen to audiobooks. I most often listen to business-related books, always looking for something that can inspire or teach me something new.
I’ve reached an age where I re-read some of the same books each year, as they keep me on track with what it is I want to accomplish. One of them is called “Build” by Tony Fadell, who led the teams that created the iPod, iPhone, and so on. Then he went on to found Nest. So, when my days are full of milestone reviews and business updates, I think it’s healthy to dig out a book like this reminding me of how to create awesome products.
Do you carry a wallet?
What? No. I have everything on my phone. I’m just really annoyed that I can’t get my passport on my phone as well.
“Investing in things that allow you to learn and grow as a person, that being education, travel, or something else, would be my best advice. Then the rest will come when you get older.”
What personal finance advice would you give your 20-year-old self?
To be honest, I would tell 20-year-old Kim: Keep doing what you’re doing.
Back then I knew the sensible thing to do was to start saving and to invest some of that money as well. The issue was that I didn’t really have much money when I was 20. And that I had, I spent on having fun and exploring. There is a saying along the lines of “when you’re young, focus on learning. When you’re older, focus on earning”. I like that – although one should, of course, never stop learning. But investing in things that allow you to learn and grow as a person, that being education, travel, or something else, would be my best advice. Then the rest will come when you get older.
What’s the one subscription you can’t live without
My Audible subscription. They give you one credit per month, which means you actually get around to buying new books, as opposed to if you were to buy them the old-school way. I think it’s pacing me in a good way because if I look at my account and realize I have three credits, it means I have to use them (right?) – so in turn, I read more!
Where’s your go-to wristwatch from?
I have three different watches, and it’s important to me that they go well with my outfit. For instance, the color of the watch should match the shoes.
Specifically, I wear a Danish brand called About Vintage. They’re not expensive, about $500, but they look nice and allow me to change the straps for different occasions.
Like many others, I like to put on my Garmin running watch when I’m not working and on the weekends.
The necessities
How do you get your daily coffee fix?
My daily coffee fix is more than just a routine–it’s a bit of a ritual. At UR, we’re fortunate to have in-house baristas and I make it a point to stop by the coffee stations regularly. Not just for the coffee, but for the conversations. And sometimes I even get behind the counter and take orders. It’s a great way to connect with colleagues, share ideas, and stay in touch with what’s happening across the company.
At home, I have my La Marzocco and currently, I import my coffee beans directly from Italy. Some years ago, my pursuit of the perfect coffee led me to a small shop in Lucca, Tuscany. I’ve been importing their beans for a while now, getting a 5kg shipment on regular basis.
What about eating on the go?
When I’m in the office, I always go eat in the canteen, with whoever wants to have lunch with me–it just allows me to meet colleagues from all over. Breaking bread + conversation = great outcomes.
I do plenty of traveling throughout the world. Our customers are most often industrial companies, meaning they are located in all sorts of neighbourhoods across the globe. Hence I always keep a stack of whole food-like bars with me.
When I’m at the office in Odense, we often have partner visits, or I eat out with colleagues also in town. Dining out allows me to have longer conversations with my close colleagues. It can give us about two hours together—something we’d usually never have—and it makes it a bit more informal, allowing you to discuss other topics than pure business.
Where do you buy groceries?
It’s probably not very “CEOish” but I really enjoy going to the local grocery store. And, in contrast to my normal love for anything tech and timesaving, I always go to the old-school checkout counter where there is a cashier. I just like the personal touch and the small day-to-day interactions you get there.
We also have a subscription to something called “Kunde-bonde” (Customer-farmer). This gives us access to local farmers’ fields where, for a monthly subscription, we can pick all the fruits and vegetables we want straight from the trees and ground. It’s amazing.
How often in a week do you dine out versus cook at home?
A normal week doesn’t really exist in my world, but I often go out for dinner with customers about two times a week.
If I can choose, I eat at home, with homemade pizza and burgers being my go-tos when I am in charge of the cooking (the kids have no complaints).
Where do you shop for your work wardrobe?
I am the kind of guy who, when I find a brand I like, sticks to it. All my suits are tailored from the same place, and for shirts I’m sticking to the ones from OLYMP. For everything non-suit related, especially with pants, I go to the Danish company Shaping New Tomorrow. Simply because it’s stylish while being so incredibly comfortable at the same time.
The treats
Are you the proud owner of any futuristic gadgets?
My Oura ring. I have been wearing it for a few years, and it tracks your sleep patterns, how much you exercise, etc. It has helped me figure out what routines suit me best so I can be the best version of myself at home and at work.
How do you unwind from the top job?
When I’m not working, I prioritize being away, spending time, and being present with family. I used to be on the Danish racquetball national team, and although it’s not quite the same, I like to play padel tennis when I get the chance.
I also go for runs, but I find that they don’t unwind me, actually the opposite. My mind starts racing and I get 100 new ideas while I do so. I often have to stop running and take notes–so I guess that defeats the point of unwinding.
What’s the best bonus treat you’ve bought yourself?
Traveling to Sri Lanka for three weeks with my family earlier this year. It was amazing. I’m a little conservative when it comes to traveling, I could just go to Italy over and over again. My wife is much more curious to see new places, wanting to go to the Himalayas and such. We usually end up going where she wants to, and it’s led to some great adventures.
Most of the trip was spent outside the resort, literally in the middle of the jungle, with leopards and elephants roaming around at night. It was an amazing nature experience and something I will never forget.
How do you record your notes in a meeting?
I don’t remember the last time I took notes on actual paper. I use ReMarkable notepad.
Take us on holiday with you, what’s next on your vacation list?
For a few years, I lived in Grenoble, France, while I was at Schneider Electric, and I became addicted to mountains. The fresh air, the silence, and the crystal-clear lakes you can literally just jump right into. And the occasional cowbell in the distance.
So, I think the next time we travel with the family, we’ll probably head towards the mountains in Austria or Italy.
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