Morten Borge to be the new CEO of Ferd from 1 August 2017

Morten Borge (35) is to take over as the new CEO of Ferd when John Giverholt retires on 1 August of this year. Morten Borge is currently Investment Director of Ferd Capital.

Morten Borge completed a master’s degree in business administration and qualified as a certified public accountant at the BI Norwegian Business School. Before joining Ferd in 2008, he worked at PricewaterhouseCoopers (PwC), and he has also been CFO at Interwell, one of Ferd’s portfolio companies. Morten Borge is currently a member of the boards of Aibel, Interwell and Servi on behalf of Ferd. He is also a member of the board of Petroleum Geo Services.

“Proud of the team at Ferd”
“I am proud of the team at Ferd, and of having had a number of highly qualified internal candidates to choose from to take over from John Giverholt as CEO. This is the second time in a row that Ferd’s new CEO – other than from the family – has been recruited internally, and it is the result of deliberate planning and developing talent over a long period”, comments Johan H. Andresen, owner and Chairman of the Board of Directors of Ferd.

Johan H. Andresen emphasises that there are many advantages to recruiting the CEO internally for family-owned companies such as Ferd; internal candidates know Ferd’s owners, its business and the organisation, while the company’s owners also know internal candidates well. This means that Ferd’s owners can be sure that candidates’ values match Ferd’s. The level of risk involved is therefore much lower than with recruiting externally.

“Ferd has been very good at adapting its organisation and strategies to the company’s growth and changes in the opportunities in the market. We therefore wanted to appoint a new CEO who would continue to develop Ferd in line with our vision and values, rather than someone who would make radical changes”, explains Johan H. Andresen. He also emphasises that all the internal candidates in the appointment process satisfied these requirements.

The qualities needed for success
Johan H. Andresen explains that Ferd needs to grow in order to be able to develop its organisation and constantly pursue the company’s vision. “This will be demanding in the coming years and it will, in all probability, be essential for us to develop closer relationships with organisations we can partner with. The Board feels that Morten Borge very much has the qualities needed to do this successfully”.

Johan H. Andresen highlights in this connection what he describes as Morten’s “special capabilities”, which he defines as “his ability to build relationships both internally and externally, to identify and realise commercial opportunities, and to inspire the entirety of Ferd’s organisation”.

“Morten has good relationships with our portfolio companies’ management teams, board members and elected representatives. This human dimension is absolutely critical to operationalising Ferd’s values. Growth is not only a numbers game; it is just as much about the number of companies we are involved with and have an ownership stake in, and we have seen a very significant increase in this regard over the past 10-12 years. There will definitely be a lot to do in this area going forward. Morten’s potential is therefore much more important than what he has achieved so far”, comments Johan H. Andresen.

Johan H. Andresen also emphasises that Morten Borge comes from the part of Ferd that is active in industry, and that this means he will also help strengthen the company’s profile in industry and its strong, dynamic approach to ownership. According to Johan H. Andresen, this will continue to be a question of having skilled people on board, giving Ferd’s employees the freedom to do their job, and being good at recruitment and creating good ideas.

“Retiring with flying colours”
Johan H. Andresen is also grateful to John Giverholt for his many years of work as both CFO and CEO.

“In both these roles John has been a rock in Ferd’s industrial development. He has been a really important leader and advisor in the development of all aspects of our professional approach to ownership, and has played an important role in creating the confidence that was needed for us to be able to attract the right people to serve on the boards and executive management teams of our portfolio companies”, explains Johan H. Andresen.

“John’s professionalism gives people confidence. Some important key words connected with this are reliable, predictable in terms of how we act as owners and accountable. He has been very skilled at recruiting other skilled managers and employees, and this has allowed us to build the strong team we have today”, adds Johan H. Andresen.

“Over the years John and I have had a good and open dialogue through which we have both grown as individuals, particularly me, and we have learnt a lot from each other. He really is retiring with flying colours”.

John Giverholt will not, however, be leaving Ferd entirely when he retires on 1 August, as Johan H. Andresen explains that he will then join Ferd’s Advisory Board, which will continue to be important to the company’s strategy development. He will also continue to be the Chairman of the Board of Directors of Elopak. “I am really pleased that John has agreed to these appointments and so to continuing to be part of the Ferd team”, comments Johan H. Andresen.

John Giverholt: “Internal recruitment a sign of quality”
Retiring CEO John Giverholt also emphasises that it is a sign of strength that Ferd has once again been able to recruit a CEO from within its own ranks. It is, in his view, a sign of quality that Ferd is able to produce its own leaders.

“When I was appointed as CEO as a 60-year-old, it was really a decision taken in special circumstances. Now that a 35-year old has been appointed to my position, Ferd is very much in a different position. It is really exciting”, comments John Giverholt. He adds: “I have enjoyed many exciting years at Ferd. While I have been here we have achieved significant capital growth and made good financial progress. We have also built an organisation that certainly bears comparison with equivalent companies, including internationally, in terms of its professionalism, expertise and way of working”.

“I value greatly the confidence that Johan has shown in me. He has always given the organisation and its employees and management a wide mandate and set stable and predictable parameters for us to operate within. This has created a sense of assuredness that is absolutely crucial for an investment company such as ours to succeed”, explains John Giverholt.

Even if Ferd has performed well in recent years, everything has not always gone so well. “Johan has been very supportive when the markets have gone against us. He knows that what we do is risky, and he has always been supportive, even when things have gone against us – particularly in connection with the financial crisis in 2008. Working with him has been truly inspiring”, comments John Giverholt.

Ferd Social Entrepreneurs has become a very important part of the company in recent years. “Johan took the initiative and put social entrepreneurship on the map in Norway. What Ferd Social Entrepreneurs has achieved in the course of a few years is absolutely unique. The whole range of Ferd’s expertise has been deployed for the benefit of Ferd’s social entrepreneurs, and it is pleasing to see how this has helped boost the rest of Ferd as well”, explains John Giverholt.

“Ferd has never been stronger than it is now. The company is not going to be the same five or ten years from now. I am very sure, however, that Ferd will develop very strongly under Morten Borge’s leadership”, comments John Giverholt, who is looking forward to being on Ferd’s Advisory Board.

Morten Borge: “An enormous opportunity and a great vote of confidence”
“This is an enormous opportunity and a great vote of confidence from Ferd’s owners and Board, and I value it greatly. I have now been at Ferd for nearly nine years. During this time I have had the privilege of seeing different parts of the company close up and of working with many exciting companies and in lots of interesting situations. I am looking forward to helping further develop Ferd from today’s strong starting position, and am very grateful for the confidence that Ferd’s Board of Directors and Johan and his family have shown in me”, comments Morten Borge. He adds: “Working at Ferd with both Johan and John as CEO has been a great privilege and a wonderful learning experience. I am also really pleased that John is not planning to retire entirely, but will continue to be involved, not least by being on the Advisory Board”.

“It is important for us to build further on the solid foundation created under John’s leadership. At the same time, the world around us is changing at an ever-increasing rate. It is therefore right that we as an ownership company change at the same pace as the markets and the opportunities that arise. This is why we do not draw up 10-year strategy plans at Ferd. Instead, we take pleasure in new initiatives and developing as things progress, while at the same time emphasising the ability to take a long-term approach that being a family-owned company gives us”, explains Morten Borge.

“Teamwork is one of Ferd’s most important values. We have many highly skilled people that it will be inspiring to have the opportunity to lead. Ferd’s success is the result of close teamwork between all its employees, including teamwork across the company’s various business areas. This is an important formula for success that it is crucial we take care of and develop further”, concludes Morten Borge.

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Börje Ekholm appointed new CEO of Ericsson, steps down as CEO of Patricia Industries

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2016-10-26 08:39 GMT+02

As announced today, Ericsson’s Board of Directors has appointed Börje Ekholm as new CEO, effective January 16, 2017. As a main owner of Ericsson, Investor fully supports this appointment.

In order to further align the CEO’s interests with the shareholders, Investor and Industrivärden will enter into an options agreement with Börje Ekholm. The options agreement will be entered into on market terms and means that Investor and Industrivärden together will issue 2,000,000 call options in the Ericsson Class B share (1,000,000 respectively). Each option entitles the purchase of one Ericsson B share at a strike price of SEK 80 per share during one year after a seven-year period. The valuation has been conducted, using the Black & Scholes model, by an independent third party.

As a consequence of this appointment, Börje Ekholm will leave his position as CEO of Patricia Industries. Investor’s strategy remains unchanged. Patricia Industries will continue to develop its existing companies and invest in new subsidiaries in the Nordics and in North America. Its operations will be managed jointly by Christian Cederholm and Noah Walley, Head of Patricia Industries Nordics and North America respectively. “First of all, as the Chairman of the Board of Investor, I would like to thank Börje for his great contributions to Investor during almost 25 years, of which ten as President and CEO, and also as the CEO of Patricia Industries. He has played an instrumental role in making Investor what it is today, not the least when it comes to successfully building our portfolio of subsidiaries. Secondly, representing one of the company’s main owners, I am very pleased to have a new CEO in place at Ericsson, an important company in our portfolio”, comments Jacob Wallenberg, Chairman of the Board of Investor.

“Having worked closely with Börje Ekholm for many years, I know that he will make a strong contribution in his new role as CEO of Ericsson. During the past year, he has established the foundation for Patricia Industries, which we will continue to build upon going forward. In Christian Cederholm and Noah Walley, we have two highly competent co-heads who will continue to develop Patricia Industries. Our strategy remains firm. We will continue to focus on developing our existing companies, invest selectively within Listed Core Investments, commit capital to EQT funds and grow Patricia Industries, with the ultimate target to generate a long-term attractive total shareholder return”, states Johan Forssell, President and CEO of Investor.

“Having spent almost 25 years in different roles within Investor, I have truly enjoyed working with creating long-term value in our companies. However, as an engineer by training, turning down the offer getting to lead Ericsson, one of Sweden’s greatest companies, is impossible. It is with great pride, humility and enthusiasm that I look forward to taking on this new task”, comments Börje Ekholm.

Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities.

This information is information that Investor AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:40 CET on October 26, 2016.

Categories: Personalia

Melker Schörling will leave his board positions in the spring of 2017

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Published: 08:00 CEST 24-10-2016 /GlobeNewswire /Source: Melker Schörling AB / : MELK /ISIN: SE0001785270
Melker Schörling will leave his board positions in the spring of 2017

Due to gradually deteriorating health, I will leave my board positions at the annual general meetings in the spring of 2017.

We will together with the nomination committees present proposals of new chairmen of the boards in MSAB, Hexagon, AAK and Hexpol during the next couple of months. I will of course continue to support and act as advisor to our managements and boards of directors.

I am happy to already now be able to inform you that we will propose to welcome back Carl-Henric Svanberg to MSAB’s Board of Directors at the annual general meeting in the spring. With his vast industrial experience and strong financial commitment to our group, he will be a great asset for us in the board.

At the annual general meeting we will propose Sofia Schörling Högberg to be Vice Chairman of the Board in MSAB next to Mikael Ekdahl. Märta Schörling Andreen will continue as a member of the board in MSAB, Hexpol and AAK.

The process of finding a successor to the current CEO of MSAB, Ulrik Svensson, continues and we expect to be able to present a new CEO later this year.

Stockholm 24th of October 2016

Melker Schörling

For further questions, please contact:

Melker Schörling AB
Tel: +46 8 407 36 60
Email: ir@melkerschorlingab.se

This information is information that Melker Schörling AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on 24th of October 2016.

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Ratos Nomination Committee and 2017 AGM

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Ratos’s Annual General Meeting (AGM) will be held on 6 April 2017 at Skandiascenen, Cirkus, in Stockholm, Sweden.

In accordance with the policy for appointing the Nomination Committee adopted at Ratos’s AGM on 14 April 2016, it is hereby announced that the company’s major owners/owner constellations have appointed a Nomination Committee with the Chairman of the Board Jonas Wiström as the convener.

The Nomination Committee comprises the following individuals:

Jan Andersson, requested to continue to serve as Chairman of the Nomination Committee by Ratos’s principal owners and a number of Swedish institutional owners
Ulf Fahlgren, nominated by Akademiinvest
Jan Söderberg, nominated by the Ragnar Söderberg Foundation and representing his own and related parties’ holdings
Maria Söderberg, nominated by the Torsten Söderberg Foundation
Per-Olof Söderberg, representing his own and related parties’ holdings
Jonas Wiström, Chairman of Ratos’s Board

In accordance with an AGM resolution, the Nomination Committee shall evaluate the composition and work of the Board of Directors and draft proposals for the 2017 AGM regarding:

election of the Board of Directors and Chairman of the Board
election of Auditor (in corporation with the Audit Committee)
remuneration to Board members and auditors
election of Chairman of the AGM
where necessary, changes to principles for composition of the next Nomination Committee

Shareholders who wish to submit proposals to the Nomination Committee may send an e-mail to yvonne.carpenter.elveljung@ratos.se (subject line “To the Nomination Committee”) or a letter to Ratos Nomination Committee, Yvonne Carpenter Elveljung, Ratos AB, Box 1661, SE-111 96 Stockholm, Sweden, not later than 9 February 2017.

Shareholders who wish to submit a proposal for consideration at the AGM should send such a proposal to the Chairman of the Board (at the above address) not later than 16 February 2017 in order for the proposal to be included in the notice of the meeting.

For further information, please contact:
Jan Andersson, Chairman of the Nomination Committee, +46 76 139 55 00
Jonas Wiström, Chairman of the Board of Ratos, +46 8 700 17 20
– See more at: http://www.ratos.se/en/Press/Press-releases/2016/Ratos-Nomination-Committee-and-2017-AGM/#sthash.K7x43Zwn.dpuf

Categories: Personalia

CapMan appoints a Real Estate Investment Director in Denmark

CapMan strengthens its Nordic Real Estate team by appointing Peter Gill as Investment Director starting from 1 October 2016. Peter will work from CapMan’s Copenhagen office and will reinforce the real estate transaction capabilities of the team in Denmark.

Peter brings 12 years of experience from advising on and conducting real estate transactions. He joins CapMan from PwC, the multinational professional services network, where he was Director for real estate operations and responsible for transaction services and buy and sell-side mandates. Prior to that he worked for GVA Nybolig Erhverv, a Danish commercial property agent, where he was responsible for international investments.

“We are very pleased to welcome Peter at CapMan and to strengthen our presence in Denmark further. His strong background in real estate transactions on an international scale will support our Nordic focus and value-added approach. He will be an excellent addition to our team,” says Torsten Bjerregaard, Senior Partner at CapMan Real Estate.

For additional information, please contact:
Torsten Bjerregaard, Senior Partner, CapMan Real Estate, tel. +44 7715 772 554
Mika Matikainen, Senior Partner, Head of CapMan Real Estate, tel. +358 40 519 0707

Categories: Personalia

CFO Martin Öhman has left the Handicare Group

Handicare

As part of a huge cost saving and downsizing operation there has been decided to outsource the Kista finance function to a UK shared service center. This has made the position of Mr. Öhman redundant. He was CFO of the business unit Patient Handling.

With the recent purchase of Prism Medical ltd. Handicare seems to concentrate their business on the USA and UK market only. Also the bookkeeping of the Dutch subsidiary Bathroom Safety has been closed from October. Most of finance in Heerhugowaard (Handicare Stairlifts) has also been moved to the UK already.

The Swedish Handicare Group is suffering in a highly competence healthcare market.
Last year the company already divested 60% of the business with the sale of Handicare Mobility to Sunrise Medical.
The company is currently owned by private equity company Nordic Capital.

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Ratos – Magnus Agervald assumes his position as CEO November 14

Ratos

2016-09-29

In accordance with previous announced decision, the Board of Directors has decided to appoint Magnus Agervald as the new CEO of Ratos. Magnus assumes his new position at November 14, 2016.
 

Magnus assumes his new position as CEO of Ratos at November 14, 2016. Magnus Agervald has been President & CEO of the publicly listed Byggmax Group since 2008, prior to which he was a consultant at McKinsey & Company, an Investment Manager at the Nordic private equity firm IDI, and the founder of Icomera, a mobile internet company.

In conjunction with Magnus Agervald assuming his position in November, Acting CEO Lars Johansson will return to his role as Investment Director at Ratos.

For further information, please contact:
Elin Ljung, Head of Corporate Communications, elin.ljung@ratos.se, +46 8 700 17 20

– See more at: http://www.ratos.se/en/Press/Press-releases/2016/Ratos-AB-Magnus-Agervald-assumes-his-position-as-CEO-November-14/#sthash.CTzMn1tx.dpuf

Categories: Personalia

Peter Nilsson appointed as new CEO of Speed Group

2016-09-28

Peter Nilsson has been appointed as the new CEO of Speed Group, a Swedish logistics and staffing services provider. After six years with the company, Catrin Wirfalk has chosen to leave Speed Group to pursue new challenges.
 

Peter Nilsson has extensive experience from senior positions in the logistics industry, most recently as Managing Director of DHL’s Norwegian and Swedish supply chain operations, and previously held various executive positions at Tetra Pak. Peter will assume his new role as CEO of Speed Group in October. Since Ratos’s acquisition, Peter has been a member of Speed Group’s Board of Directors, sharing his extensive expertise from the logistics industry. In July, Ingvar Nilsson took over as Chairman of Speed Group. Ingvar joined the Board from his role as Regional Director for Northern Europe at Schenker and, along with Peter, has strengthened the company’s expertise in the area of logistics.

“Over the past few years, Catrin and her colleagues have successfully developed Speed Group into a leading Swedish company in its market segment. Speed Group’s business model, which combines logistics services and specialised staffing, has given the company a competitive offering in areas which Peter, with his extensive experience, can further develop. We continue to see excellent potential in Speed Group’s business model and strong position in an attractive market niche,” says Henrik Joelsson, Investment Director at Ratos.

Ratos acquired 70% of the shares in Speed Group in 2015. The company’s founder owns the remaining 30%. The company has approximately 1000 employees and sales of SEK 536m for 2015.

For further information, please contact:
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Henrik Joelsson, Investment Director, +46 8 700 17 47

– See more at: http://www.ratos.se/en/Press/Press-releases/2016/Ratos-AB-Peter-Nilsson-appointed-as-new-CEO-of-Speed-Group/#sthash.NIvTAqn5.dpuf

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Investor AB’s Nomination Committee for the 2017 Annual General Meeting

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2016-09-15 08:00 GMT+02

In accordance with the decision by the Annual General Meeting, the members of the Nomination Committee of Investor AB should be appointed by the four shareholders/owner groups controlling the largest number of votes in Investor AB which desire to appoint a representative. In addition thereto, the Chairman of the Board of Directors shall be a member of the Nomination Committee.

On August 31, 2016, the four owners controlling the largest number of votes (taking into account owner groups) which desired to appoint a representative to the Nomination Committee were the Wallenberg Foundations, AMF, SEB Foundation and Alecta. Each such shareholder has appointed a representative, as shown below, who together with the Chairman of the Board will form Investor AB’s Nomination Committee.

The Nomination Committee’s members are:

  •  Hans Wibom, Wallenberg Foundations
  • Peder Hasslev, AMF
  • Lars Isacsson, SEB Foundation
  • Ramsay Brufer, Alecta
  • Jacob Wallenberg, Chairman of Investor AB’s Board

The four owner representatives of the Nomination Committee represent approximately 65 percent of the voting rights for all shares of Investor AB.

The Nomination Committee shall present the following proposals for approval by the 2017 Annual General Meeting:

  • Proposal for Chairman of the Meeting;
  • Proposal for Members of the Board of Directors;
  • Proposal for Chairman of the Board of Directors;
  • Proposal for remuneration to the Members of the Board of Directors, distinguishing between the Chairman of the Board of Directors and other Members of the Board of Directors and remuneration for committee work;
  • Proposal for auditors;
  • Proposal for remuneration to Investor’s auditors; and
  • To the extent deemed necessary, proposal regarding amendments of the current instruction for the Nomination Committee.

Investor AB’s Annual General Meeting will be held on Wednesday, May 3, 2017, at City Conference Centre, Barnhusgatan 12-14, Stockholm, Sweden.

Shareholders who would like to submit proposals to the Nomination Committee can do so via e-mail: nomination.committee@investorab.com, or by ordinary mail to the address: Investor AB, Nomination Committee, SE-103 32 Stockholm, Sweden, by March 8, 2017, at the latest.

Categories: Personalia

Edouard Merette appointed Chairman of Unigestion Asia

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Unigestion has appointed Edouard  Merette the Chairman of Unigestion Asia as of the 1st of September. Based in Singapore, Merette will be instrumental in leading the firm’s strategy for growth in the region, working with the whole of Unigestion’s senior management team. Merette was previously Managing Director, Asia Pacific for the Caisse de Depot et Placement du Quebec, one of Canada’s largest fund managers, and has over 25 years of corporate management experience in Canada, Europe and Asia Pacific.

Unigestion, the boutique asset manager with scale, today announces that Edouard Merette has been appointed as non-executive Chairman of the board of Unigestion Asia.

Based in Singapore, Merette will be instrumental in leading the firm’s strategy for growth in the region, working with the whole of Unigestion’s senior management team.

Merette was previously Managing Director, Asia Pacific, for the Caisse de Depot et Placement du Quebec, one of Canada’s largest fund managers and has over 25 years of corporate management experience in Canada, Europe and Asia Pacific. His track record of building and leading businesses in the professional services sector include seven years as Chief Executive for Aon Hewitt, Asia Pacific and six years as a member of Mercer’s Global Executive Committee, the last year of which he was President, Asia Pacific.

Merette replaces Bill Foo, who served as chairman for five years, but who remains a member of the board.

Bernard Sabrier, Group Chairman of Unigestion said of the appointment: “We are thrilled that Edouard is joining our global family. With our increasing presence in Asia since establishing our office in Singapore in 2007, we see the region as one of long term growth for Unigestion. Edouard’s profile and experience globally, together with his knowledge of the Asian financial markets will help us establish strong relationships with Asian investors.”

Edouard Merette commented: “Unigestion has a compelling proposition for Asian investors, who value sound investment principles based on tailored, risk managed exposure across diversified asset classes.  For me, Unigestion is an ideal fit given its global footprint and outlook. I very much look forward to working with my new colleagues to build on Unigestion’s success both in the region and globally.”

Categories: Personalia