Change of CEO in Ostnor AB

The Board of Directors in Ostnor AB has today appointed Claes Seldeby (43) new President and CEO. Claes succeeds Håkan Olson who has served as President and CEO, close to 6 years. Håkan has with great success managed an extensive change in company operations resulting in considerable improvements of operating profit and cash-flow.

Claes Seldeby, currently deputy CEO and head of Marketing & Sales in Ostnor AB, was previously CEO at ProfilGruppen AB. Claes has an industrial background with several management positions at Schneider Electric in Sweden and Denmark as well as at AB Wibe in Mora. Claes Seldeby is based in Mora.

”Claes Seldeby has a genuine industrial background with international experience and a market oriented leadership style which will be of great importance for the continued development of the company. I wish Claes the best of luck in his new position, says Christer Lenner, Chairman of the Board in Ostnor AB.

Under the management of Håkan Olson, Ostnor AB has undergone a considerable development by the merger of the previously independent businesses FM Mattsson, Mora Armatur, Ostnor Production and Ostnor into one company. The merger has created large synergy effects which has positively impacted the profit level in the company. Lean-principles have to a great extent been deployed in the company and all vital key performance indexes have greatly improved. Ostnor has today a strong operating platform and are ready to capture growth opportunities in Sweden, rest of the Nordics and internationally.

”The company is prepared to enter into a new phase which form a natural moment for me to hand over the power to new management, after almost 6 years as CEO”, says Håkan Olson.

”Me and the entire Board of Directors want to thank Håkan expressively for his dedicated work in transforming the company which had great strategic importance bringing Ostnor into the strong position we have today”, says Christer Lenner.

Håkan Olson will be available for the company during a period of time.

For information please contact: Christer Lenner, Chairman of the Board, Ostnor AB (publ.), +46(0)70-591 03 05

 

Ostnor conducts the sale, manufacture and product development of taps under the strong and well-established brands, FM Mattsson and Mora Armatur. The Nordic Region is the Company’s principal market. Ostnor has net sales of almost 1 billion Swedish krona and slightly more than 500 full-time employees. The operations are concentrated in Mora in Sweden, where the head office is also situated.

 

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