This information is information that Ratos 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, on 18 July 2016 at 08:30 CET.
The Board of Directors has decided to appoint Magnus Agervald, as the new CEO of Ratos effective January 2017 at the latest. Immediately prior to joining Ratos, Magnus Agervald was President and CEO of the publicly listed Byggmax Group.
"The Board has worked intensely to find the right CEO for the next phase in Ratos's development. We are very pleased that Magnus will now assume the position as CEO of Ratos. He possesses solid operational experience of investment operations and has led companies undergoing strong growth and rapid change. Magnus's leadership is precisely what Ratos needs in the continued implementation of our strategy", says Chairman of the Board Jonas Wiström.
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 equtiy firm IDI, and the founder of Icomera, a mobile internet company. He is 41 years old and holds an MSc in Economics from the Stockholm School of Economics, and an MSc in Engineering from the KTH Royal Institute of Technology.
"I am delighted and proud to have been tasked with heading Ratos. It is both inspirational and challenging to have been entrusted by the Board to continue advancing Ratos as an investment company. Just like Ratos, I am passionate about developing companies and look forward to providing our portfolio companies with support in long-term and sustainable business development", says CEO-designate Magnus Agervald.
In conjunction with Magnus Agervald assuming his position in January 2017 at the latest, Acting CEO Lars Johansson will return to his role as Investment Director at Ratos.
For questions, please contact:
Jonas Wiström, Chairman of the Board, +46 8-700 17 20
Elin Ljung, Head of Corporate Communications, +46 8-700 17 20