PRA Group Welcomes Martin Sjolund as New CEO for Growth
PRA Group Announces Exciting Leadership Transition
PRA Group, Inc. (NASDAQ: PRAA) has made a significant move by appointing Martin Sjolund as their next President and Chief Executive Officer, with his start date set for June 17, 2025. This decision comes as current President and CEO Vikram Atal is set to retire, concluding a remarkable leadership chapter.
Leadership Changes and Future Vision
Martin Sjolund, who has excelled as the President of PRA Group Europe, will be stepping into this pivotal role. He succeeds Vikram Atal, who has dedicated years to the company and will remain as a senior advisor until December 31, 2025. This leadership change is part of a comprehensive succession plan by the Board aimed at bolstering the company's growth trajectory.
Insights from Leadership
Steve Fredrickson, the Executive Chair of PRA Group’s Board, expressed gratitude towards Vik Atal for his impactful leadership during critical times for the company. He highlighted that the Board's continuous succession planning demonstrates their commitment to fostering long-term, profitable growth for PRA Group.
Martin Sjolund's Vision
In his own words, Sjolund stated, "I am honored to have the opportunity to lead PRA Group as we enter our next phase of growth." He emphasized the ongoing achievements within the company, including record global portfolio acquisitions and significant cash growth, which have positioned the firm strongly for future success.
Martin Sjolund's Background
Since taking the role of President of PRA Group Europe in 2018, Sjolund has led market operations across 15 regions, including Canada and Australia, overseeing nearly $3 billion in portfolio investments. His efforts significantly improved the profitability of PRA’s European operations and introduced new market expansion strategies.
A Proven Track Record
Prior to his current role, Sjolund held the position of Chief Operating Officer of Europe from 2015 to 2018 and played a critical role in Group Strategy and Corporate Development. His vast experience also includes leadership in global tech firms and significant consulting work with McKinsey & Company.
About PRA Group
PRA Group, Inc. is recognized globally for acquiring and collecting nonperforming loans. Their mission focuses on returning capital to financial institutions, enhancing consumer financial services across the Americas and Europe. With a workforce of thousands committed to customer collaboration, PRA Group aims to ensure debt resolution and foster better financial outcomes.
Contact Information
For media inquiries, Elizabeth Kersey, Senior Vice President of Communications and Public Policy, can be reached at (757) 641-0558. Investor relations inquiries can be directed to Najim Mostamand, CFA, Vice President of Investor Relations, at (757) 431-7913.
Frequently Asked Questions
Who is Martin Sjolund?
Martin Sjolund is the newly appointed President and CEO of PRA Group, effective June 17, 2025, previously serving as President of PRA Group Europe.
What changes are happening at PRA Group?
PRA Group has announced a leadership transition with Martin Sjolund succeeding Vikram Atal as CEO, who will become a senior advisor until late 2025.
When is the leadership change taking place?
Martin Sjolund will formally take on the role of CEO on June 17, 2025.
What is the focus of the new leadership?
The focus under Martin Sjolund is to drive growth, improve operational processes, and enhance value for shareholders while building upon existing strengths.
How can I contact PRA Group for media inquiries?
Media inquiries can be directed to Elizabeth Kersey at (757) 641-0558, Senior Vice President of Communications and Public Policy.
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