The Board of Ratos's associated company Superfos has reached an agreement with Kim Andersen that he will resign from his position as President and CEO of Superfos.
Pending appointment of a new CEO, board member Torben Bjerre-Madsen will be acting CEO while remaining a member of the Board.
Waldemar Schmidt, Chairman of the Board, comments: "Kim Andersen has made a significant contribution to the Superfos Group. First he headed the Central division in Germany and then, since 2001, he has been CEO of the entire Superfos Group. Under Kim Andersen's management Superfos, among other things, acquired Jotipac. In conjunction with this acquisition significant rationalization was carried out in the production structure which led to substantial cost savings. Most recently, Kim Andersen was in charge of the sale of the Pharma division".
It is the Board's opinion that the future focus on growth that is considered essential will be best led by a new CEO.
Ratos owns 33% of Superfos, the Industri Kapital 1997 Fund 66% and management the remaining 1%.
For further information, please contact
Waldemar Schmidt, Chairman of Superfos, +45 2124 3305
Thomas Mossberg, Executive Vice President and Senior Investment Manager, Ratos, +46 8 700 17 45