Ralph Riber leaving as IES’s CEO
Ralph Riber is leaving his position as CEO of Internationella Engelska Skolan i Sverige Holdings II AB (IES) effective 7 August. IES’s Board of Directors has appointed CFO Fredrik Åkerman as Interim CEO from the same date. Fredrik Åkerman has been IES’s CFO since 2013, and possesses long-term experience of serving as a CEO and CFO of large organizations. The recruitment of a new CEO will commence with immediate effect, and will be led by Chairman of the Board Per Båtelson.
“I want to express our real gratitude for what Ralph has achieved in further professionalizing and developing IES during his four years as CEO. The group has made really positive progress under Ralph's leadership, executed its IPO, and we now have a stable platform to continue working. Accordingly, our principal owners and Board of Directors think the time is right to change CEO, now that IES is taking its next developmental step to exploit our substantial future growth opportunities,” commented Per Båtelson, IES’s Chairman.
“I would like to express my personal appreciation to Ralph Riber for his contribution to Internationella Engelska Skolan through these highly important years with a new main owner and the stock market listing. Mr. Riber has worked hard and completely embraced our culture, which includes our commitment to order in the classroom, our international character and high academic ambitions for all of our students”, commented Barbara Bergström, the founder of IES.
“I’ve had many exciting years with all my colleagues developing our operations and putting the structures that are so important for creating a stable business in place. IES is a unique organization with a strong concept, which has all the potential to keep evolving. It’s been really stimulating to watch IES’s progress, first as a Board member, and then leading operations with my really skilled colleagues,” responded Ralph Riber, CEO of Internationella Engelska Skolan.
For more information, please contact:
Johan Hähnel, IR Manager, IES
Tel: +46 (0)70 605 6334
Internationella Engelska Skolan i Sverige Holdings II AB discloses the information provided herein pursuant to the EU’s Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact, on 7 August 2017 at 08:15 a.m. CET.
About Internationella Engelska Skolan
Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 21,400 students in 30 schools in the academic year 2016/17. IES operates schools for students in grades 1-12. Its main focus is grade 4-9, what is often called “middle school”. Within the compulsory school system in Sweden, IES is the leading independent actor, operating nine of the ten largest free schools. IES results on the national tests in grade 9 are far above average in Sweden.
Internationella Engelska Skolan was founded in 1993 and is in its 24th year of operation. It continues to be defined by three strong convictions, established by the founder, Mrs. Barbara Bergström:
- A safe and orderly environment, where teachers can teach and students learn.
- To command the English language—the key to the world.
- High academic expectations.
Up to half of the teaching in IES schools is performed in English, by native English speaking teachers. Over 700 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, USA, UK and South Africa.
IES has shown a strong and consistent growth for a number of years. Average organic growth during the last ten years is 19 % per year. Turnover during the latest concluded operational year, 2015/16, was 1 807 MSEK (growth of 17 % from previous year). As of 31 March 2017, there were approximately 144,000 applications in the waiting list to secure a place for the forthcoming year.
Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap with the ticker ENG since the end of September 2016. The largest shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and foundations in the US, and IES’s founder Barbara Bergström. Other major shareholders as of the end of June 2017 include Swedbank Robur fonder, investment company Öresund, Norron Asset Management, the Third Swedish National Pension Fund and AMF Försäkring & Fonder (owned jointly by LO, The Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).