New CEO appointed and Q3 trading update
• Hans Gieskes has been appointed President and Chief Executive Officer of Cision, effective immediately.
• Cision’s underlying EBIT, excluding restructuring charges, is estimated at approximately SEK 20 million for the third quarter.
New CEO appointed
Cision’s board of Directors has appointed Hans Gieskes as President and Chief Executive Officer of Cision, effective immediately.
“Hans Gieskes has a proven track record of managing critical change processes in an international setting. He brings strong industry experience, combined with excellent leadership skills”, says Anders Böös, Chairman of the Board of Cision.
Hans Gieskes, 54, is a twenty year Reed-Elsevier veteran and a former CEO of the LexisNexis Group, which at the time was a $1.3 billion business with more than 8 000 employees. He is a Dutch citizen, who has lived and worked for ten years both in the US and the UK.
Hans Gieskes will be based at Cision’s offices in Stockholm and Chicago.
Cision’s performance in the third quarter has been unsatisfactory mainly due to continued weak performance in the UK as a result of production disruptions earlier this year. The US operations have been affected by a weaker US economy and a slower development for broadcast monitoring. Underlying EBIT for the third quarter, excluding restructuring charges, is estimated at approximately SEK 20 million.
The full interim report for Q3 is going to be presented on October 23rd.
The Board of Director