D. Carnegie & Co – Ulf Nilsson to step down as CEO, Svein Erik Lilleland appointed interim CEO
D. Carnegie & Co AB (the "Company") – listed on Nasdaq Stockholm – announces today that Ulf Nilsson has decided to step down as CEO. Svein Erik Lilleland, currently member of the board of directors, has been appointed as interim CEO.
Ulf has, following discussions with the board of directors, decided to resign as CEO. The decision is based on Ulf’s desire to focus on other initiatives. The board has now initiated a process of finding a new CEO for the Company. During this process Svein Erik Lilleland has been appointed as interim CEO. Svein Erik Lilleland joined the board of the Company in October 2016 and has since then been closely involved with the Company senior management. Ulf will remain with the Company for a transition period to ensure an orderly hand-over, the specific length of which is yet to be decided.
Comment by James Seppala, chairman of the board:
"We thank Ulf very much for his many successful years with the Company and wish him the best of luck going forward. Ulf has decided that he wishes to focus his time on other projects. We are confident that Svein Erik, supported by D. Carnegie & Co’s existing senior management team, will continue to execute the business plan and maximise value for the D. Carnegie & Co shareholders in the interim period as the process for identifying a new CEO is initiated. "
For further information, please contact
James Seppala, chairman of the board
+46 (0) 73 252 38 90
This information is information that D. Carnegie & Co AB (publ) 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, at 1.00 p.m. CEST on 6 September 2017.
About D. Carnegie & Co
D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the company's renovation method which, among other things, means that no evacuation needs to take place. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to SEK 19,726 million on 30 June 2017. The total rental value amounted to SEK 1,536 million annually on 30 June 2017. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.