Grevie 2017-09-28
Lindab accelerates strategy and introduces new CEO
The Board of Lindab International AB (publ) has over a period of time reviewed the company's strategy and its business areas. As a conclusion of this work, the board has decided to accelerate the strategy with a clearer focus on the ventilation business and to explore structural alternatives for Building Systems and its related businesses.
The Board has further decided that the accelerated execution of the strategy will be supported by the introduction of a new CEO and has therefore reached an agreement with the company's President and CEO Anders Berg about a release of his duties. In the interim, Fredrik von Oelreich will assume the role of acting CEO and the Board has initiated the process of recruiting a permanent President and CEO.
Peter Nilsson, Chairman of the Board, comments:
"Anders Berg has made significant contributions to Lindab during his four years as President. Anders has, together with his management team, provided a good foundation for the strategic direction of the company with an increased focus on ventilation and indoor climate solutions. Lindab is well positioned when this work now moves into the next phase and the speed of the execution is accelerated."
Fredrik von Oelreich has long experience of leading international corporations and to drive structural change, e.g. as CEO for Candyking and Duni AB. He will assume his position with immediate effect.
Lindab will issue its financial report for the period January - September on October 26 2017, additional information regarding the strategical direction will then be released. Telephone Conference
Lindab invites journalists and financial analysts to a telephone conference today September 28, 2017 at 3 pm, when this change is further commented. Participants will be Peter Nilsson, Chairman of the Board, and Fredrik von Oelreich, acting CEO. Please dial +46 (0)8 5050 3050 and press pin code: 9890329#
For further information, please contact:
Peter Nilsson, Chairman of the Board
Telephone: +46 73 419 63 31
The information is such that Lindab International AB (publ) is obligated to publish under the Swedish Securities Market Act and/or the Swedish law on Trading with Financial Instruments. The information was submitted for publication on September 28. 2017 at 07.40 CET.
Lindab in brief:
Lindab develops, manufactures, markets and distributes products and system solutions for simplified construction and improved indoor climate. The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had sales of SEK 7,849 m in 2016 and is established in 32 countries with approximately 5,100 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2016, the Nordic market accounted for 47 percent, Western Europe for 33 percent, CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 17 percent and other markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm List, Mid Cap, under the ticker symbol LIAB.
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