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Share 2016-09-30 17:29 RATOS B 40.74 SEK

Torbjörn Wik new acting CEO of KVD

2016-01-15

This information is disclosed pursuant to the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act or requirements stipulated in the listing agreement.

Torbjörn Wik has been appointed new acting CEO of KVD, Sweden's largest independent online marketplace offering broker services for second-hand vehicles. After eight active years in the company, seven of which as CEO, Ulrika Drotz Molin has elected to resign to pursue new challenges. The recruitment process for a permanent replacement has begun.

Torbjörn has extensive experience of the role of CEO from companies whose core operations have been online services and e-commerce, recently as acting CEO of inkClub. He was formerly acting CEO for Oniva Online Group. Torbjörn will assume the position of acting CEO in January.

"Under Ulrika's leadership, KVD has the past years implemented many exciting growth initiatives, including those in the private car area where KVD has established a clearer consumer brand. Our strategy going forward markedly focuses on online service and e-commerce, areas in which Torbjörn has long-standing experience and can continue to develop KVD while we look for a new permanent CEO. We still see vast potential for growth in KVD's unique business model and market position," says Susanna Campbell, CEO of Ratos.

KVD was acquired in 2010 and is today Sweden's largest independent online marketplace offering broker services for second-hand vehicles. The company has about 170 employees, reported sales of SEK 315 m in 2014 and an adjusted operating profit (EBITA) of SEK 44 m.

For questions, please contact:

Lars Johansson, Investment Director, +46 8 700 17 00
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20