New CEO in PEN Concept Group AB
Johan Burtus, Group CEO at PEN Concept Group AB (PENCON, Spotlight Stock Market), has announced his resignation to the Board of Directors. Johan has held in this position since May 2017.
New Group CEO is Magnus Hjorth, until now serving as Sales Director in PEN Concept Group AB. Magnus assumes his position as of October 1, 2018. Parallel to this change, new Managing Directors for all Swedish subsidiaries are appointed, positions previously held by the group CEO.
GOODS Sweden AB: Mr Sebastian Rosendahl, Managing Director
PEN Interiör AB: Mr Andreas Wilsander, Managing Director
PEN Shop Concept AB: Mr Fredrik Rosin, Managing Director
All Managing Directors above report to the group CEO.
Johan Burtus comments as follows: “It has been a very exciting journey and mission to lead the PEN group. We have achieved a lot, which is visible through some of the largest deals ever landed, plus attracting new clients across all business segments. Yet we have battled structural issues and decreasing margins, which has led to negative results along the way. With great pleasure, I will now handover to Magnus and a number of carefully selected Managing Directors for our Swedish subsidiaries. This gives us an organizational strength and capability to continue developing PEN in the direction already set out. I also very much look forward to cooperate with Magnus and his team in a number of assignments of high strategic importance.”
Magnus Hjorth comments as follows: ”This CEO replacement is not at all dramatic. Johan will continue working with a number of selected assignments which all are prioritized. Parallel to this we are strengthening our organization by internally recruiting a number of Managing Directors to gain a more local and long-term sustainable leadership. Further, we continue along the recently defined path with a clearer strategy and work with those channels and accounts that I have developed together with Johan during his time as CEO. Our ability to meet expectations from our customers remains high - in all business segments - and I am fully convinced we have the right recipe to succeed in our commitments and promises towards the market and our owners."
For any inquiry regarding this press release, kindly contact:
Johan Burtus, CEO, PEN Concept Group AB
E-mail: johan.burtus@pen.se
Phone: +46 738 000 460
This information is insider information that PEN Concept Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on September 28, 2018.
PEN Concept Group in brief
PEN Concept Group AB, headquartered in Jönköping, Sweden, is a turnkey supplier of interior products and solutions for shops, exhibitions, events, restaurants and showrooms. The group coordinates all required resources to offer customers both standard and customized interior solutions, including large scale productions. The Swedish operations is channelled through the subsidiaries PEN Interiör AB, PEN Shop Concept AB and Goods Sweden AB. The group also has a production and distribution facility, Qingdao Oboya Shop Concept Co., Ltd. in China.
The PEN brand represents solid know-how and experience in design, engineering, production and installation services for exhibitions, restaurants and retail customers. The GOODS brand covers a turnkey product range for restaurant businesses, including kitchen machinery, furniture and utensils.