Change of President at Hemtex

The Board of Directors of Hemtex AB has decided to appoint a new President for the company. The appointment should be viewed against the background of Hemtex’s need for new leadership in conjunction with Hemtex adjusting its customer offering. The Acting President will be Kia Orback Pettersson, who has many years of retail experience and is a Member of the Hemtex AB Board.

Hemtex is the leading home textile chain in the Nordic region. Its market share in Sweden, the Group’s primary market, is slightly more than 26 percent. The chain has expanded considerably during the past few years. In 2008, however, market share declined and the sales and earnings trend deteriorated. The Board of Directors has initiated actions concerning an altered customer offering in which Hemtex’s strong profile, combined with discount campaigns, will be balanced with more inspiration in stores, an expanded product range and a clarification of the high price value that always characterizes Hemtex’s products.

”Anders Jansson has worked at Hemtex for six years. During his years as President, Hemtex has progressed from a small and unprofitable franchise chain to a listed, market-leading, fully integrated retail store chain within home textiles. The Board of Directors currently sees new demands for leadership, particularly in the harsh financial situation currently prevailing, in order to improve Hemtex’s customer offering in terms of both concept development and operational matters,” says Mats Olsson, Chairman of Hemtex AB.

Anders Jansson assumed the position of President of Hemtex AB in 2002 and will leave the company as of today’s date. Acting President Kia Orback Pettersson, will assume her position immediately. The process of finding a new President has commenced.