Opus Group appointed Lothar Geilen as next CEO

The board of directors appointed Lothar Geilen as the new CEO of Opus Group, beginning on April 1, 2017. The current CEO, Magnus Greko, will remain in the company as Vice President Strategic Business Development.

“I am very pleased that Lothar Geilen has accepted his assignment as the new CEO”, says Katarina Bonde, Chairman of the board of directors for Opus Group. “Lothar has been with the company for nine years and knows the business inside out. During this period, he has been a key member of the senior management and has been instrumental in taking the company to a leading international vehicle inspection company. The world has a great need for our services and we have adopted a new five-year growth plan doubling the size of the company. I am convinced Lothar is the perfect candidate to take on this task.”

“I am looking forward to taking on this new challenge of managing the company through the next growth period”, stated Lothar Geilen. “My focus will be on international expansion, on applying our leading technology position to market needs and on corporate sustainability”, Geilen continued.

Lothar Geilen has been employed by Opus Group since 2008. He co-founded the U.S. company Systech International in 2000 and continued with Opus Group as head of the Vehicle Inspection Division after Systech was acquired by Opus Group in 2008. Lothar holds a Dipl.-Kfm. degree from Ludwig-Maximilian University in Munich, Germany.

Magnus Greko will step down from the position as CEO of Opus Group to take on a newly established position in the Opus Group management team as Vice President Strategic Business Development. With Opus Group’s newly adopted five-year growth plan focused on entering new markets and finding acquisition targets, an increased emphasis on strategic business development is essential.

“I am very pleased with Opus Group’s performance during the eleven years I have been CEO of Opus Group as a listed company. We have created a great platform for further expansion and I believe this is a good time to hand over the controls to Lothar Geilen while I will focus on strategic business development. I am convinced that Lothar will be a great CEO of Opus Group”, says Magnus Greko.

Mölndal, February 14, 2017
Opus Group AB (publ)

För ytterligare information, vänligen kontakta
Magnus Greko, VD och koncernchef
Telefon: 46 31 748 34 00
E-post: magnus.greko@opus.se

Peter Stenström, Investor Relations
Tel: 46 765 25 84 93 
E-post: peter.stenstrom@opus.se  

Opus Group is a leading innovative technology focused growth company in the vehicle inspection market. The company has a strong focus on customer service and innovative technology within IT, emission testing and vehicle communication. The Group had SEK 1,697 million in revenues in 2016 with strong operating cash flow and good operating profitability. With over 1,600 employees, Opus Group is headquartered in Mölndal in the Gothenburg region of Sweden and has 25 regional offices, 20 in the United States and the others in Stockholm, Peru, Chile, Mexico and Pakistan. Opus Group has production facilities in the U.S. in Hartford and Ann Arbor. The Opus Group share is listed on Nasdaq Stockholm.

About Us

Opus is a technology driven growth company in the vehicle inspection and vehicle services markets. The company has a strong focus on customer service and innovative technology within emission and safety testing and vehicle services. Opus’ plan is to double its revenues to reach USD 400 million in revenues and USD 100 million in EBITDA by 2021. The main growth is estimated to come from the expansion of the vehicle communication and services business and the international expansion of the vehicle inspection business with a primary focus on the Latin American and Asian markets. Opus is headquartered in Gothenburg, Sweden. Opus has 30 regional offices of which 20 are located in the United States and the others in Stockholm, Peru, Chile, Argentina, Australia, Germany (dormant), Mexico and Pakistan. Opus has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The Opus share is listed on Nasdaq Stockholm.

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