Leadership change at Papyrus
Papyrus owners and board of directors have decided to accelerate the strategy to develop Papyrus into a diversified distributor by continuing to focus on existing profitable segments as well as increasing the pace of acquisitions. A strategy that will be pursued for the next 4-6 years.
Papyrus President and CEO, Peter Sandberg, has together with the board arrived at the conclusion that a change at the CEO position is desirable. Peter has served as Papyrus CEO since 2008 and has been instrumental in building the strong platform that Papyrus has today. “I have really enjoyed the past 8 years at Papyrus and I am proud of what the management and I have achieved together, says Peter Sandberg. “I am a strong believer in the new strategy and will remain a significant owner of the company, but after 8 years and setting the course for another 4-6 years it is now time for me to move on and for someone else to take over the baton.”
“We would like to thank Peter for his excellent contributions to Papyrus since 2008. He has developed Papyrus into the most efficient distributor within its customer segments, generated strong earnings and cash flow, and led several important acquisitions. We wish Peter all the best in his future endeavours”, says Claes Ekström, member of the board and Partner at Altor Equity Partners.
Papyrus Chairman, Christoph Sander will assume the CEO role as of July 1st and serve as Executive Chairman and Interim CEO until a new CEO has been appointed. Peter will continue as an adviser to Papyrus until year-end to ensure a smooth handover. “I would personally like to thank Peter for his excellent stewardship of Papyrus. I have very much enjoyed working with him in the last few years. Papyrus is a strong company with a very capable management team, and the business has an excellent platform from which to develop further in the coming years. Papyrus is not only an important European merchant for paper and related products, but also increasingly a key service provider and partner to many of our customers. I look forward to working with the management team on this fresh part of the journey."
For further information, please contact:
Christoph Sander, Executive Chairman and Interim CEO, Tel. +44 7554 457988
Papyrus, with net sales of EUR 1,542 million in 2015, is a leading European merchant in paper, facility supplies and industrial packaging. The company is currently active in 20 European countries and employs some 1,900 people. Papyrus supports more than 65,000 customers by providing products and services that enhance efficiency and contribute to a more successful business. With a long tradition and record of excellence, Papyrus is committed to staying at the forefront by offering quality products, high service levels and reliable logistics solutions. The Papyrus head office is in Gothenburg, Sweden.