Management changes in Bygghemma Group
Bygghemma Group First AB (publ) (“Bygghemma”) announced today that it is making changes to its Group management with the aim of further strengthening the management organisation.
Martin Edblad, who has worked as CFO of Bygghemma since 2012, has been appointed acting President and CEO of Bygghemma and head of the Home Furnishing segment. Martin Edblad will take up his new positions on 1 April 2019. Mikael Olander, who has combined the roles of President and CEO and head of the DIY segment since 2012, will retain his position as President and CEO until 1 April. He will thereafter serve as head of the DIY segment and has been appointed COO and responsible for M&A. Peter Rosvall, COO since 2012, will leave his role as COO 1 April 2019 and has been appointed head of New Operations as of the same date.
When Martin Edblad assumes his new positions, he will leave his role as CFO of Bygghemma. Adam Schatz has been appointed as new CFO of Bygghemma as of 1 April 2019. Adam Schatz has extensive experience as CFO and financial director of international companies and is currently Deputy CEO and CFO of Axiell Group. Prior to this, he held leading positions at Baxter and Gambro and was before that Managing Director of the venture capital company Teknoseed and analyst at Goldman Sachs. Adam Schatz holds an MBA from the Stockholm School of Economics.
“Since the start, Bygghemma has expanded significantly, with the objective to reach net sales of SEK 10 billion over the medium term. The changes to management presented here will free up time for Mikael Olander and Martin Edblad to focus fully on realising the company’s growth ambitions for the DIY and Home Furnishing segments while strengthening Group management through the appointment of Adam Schatz as CFO. Over time, we will also strengthen the team with a permanent President and CEO, but currently we are convinced that Martin Edblad is best suited to lead the company,” comments Henrik Theilbjørn, Chairman of Bygghemma.
“The changes will allow me to work fully with our core business while allowing space for a strong leader that supports our ambitious growth plans in the coming years. The changes will also mean the legal process regarding VAT handling in the Åland Islands, as previously communicated, and which refers to a period when I was the CEO of Qliro Group, will not need to impact Bygghemma, which is important for both me and other shareholders,” comments Mikael Olander.
“I am very much looking forward to focusing fully on leading Bygghemma’s continued rapid growth during a period with quickly changing purchasing behaviour. The appointment of Adam Schatz as my highly competent successor and the fact that we have strong leaders on all other key positions will allow me to devote all of my time to strategic issues and Bygghemma’s continuing business, which feels very gratifying,” comments Martin Edblad.
For more information, please contact:
Mikael Olander, President and CEO of Bygghemma Group
Tel: +46 708 19 43 00
Johan Hähnel, Head of Investor Relations
Tel: +46 70 605 6334
This information is information that Bygghemma Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 18:00 CET on 4 December 2018.
About Bygghemma Group
Bygghemma Group is the leading online supplier of home improvement products in the Nordic region. We offer our customers a broad product range at attractive prices, with convenient home delivery. We conduct operations in two segments: DIY and Home Furnishing. DIY comprises sales of products from well-known brands for homes and gardens, and Home Furnishing comprises sales of furniture and home decor, mainly under proprietary brands. Bygghemma Group includes a wide range of webstores, such as Bygghemma, Trademax, Chilli and Furniturebox. Bygghemma Group had sales of approximately SEK 4.4 billion in 2017, has its head office in Malmö and is listed on Nasdaq Stockholm Mid Cap.