Management changes in Bygghemma Group
Bygghemma Group First AB (publ) (“Bygghemma”) announced today that it is making changes to its Group management with the aim of further strengthening its capacity to grow. All changes will come into effect on 20 February 2020.
Adam Schatz, CFO of Bygghemma Group, has been appointed as the new President and CEO of Bygghemma Group and Head of the Home Furnishing segment.
Martin Edblad is stepping down from his roles of acting President and CEO and Head of the Home Furnishing segment and has been appointed to a newly created position as Head of Strategy and M&A.
Jesper Flemme, who has worked as Head of Financial Controlling & Group Reporting at Bygghemma Group since 2016, has been appointed as acting CFO for Bygghemma Group. Jesper Flemme, who is 40 years old, previously held a similar role at what was then CDON Group (now Qliro Group), has worked as a consultant at Addedo and Deloitte, and holds a master’s degree in economics from Lund University.
Group management will consist of CEO Adam Schatz, CFO Jesper Flemme, and COO Mikael Olander.
Henrik Theilbjørn, Chairman of Bygghemma Group, comments: “Bygghemma Group has grown substantially since the start and has become the Nordic and European leader in its segments over the last few years. The company is poised to deliver on its financial goals of achieving net sales of SEK 10 billion in the medium term and an adjusted EBIT margin of 7 percent. The fact that Adam Schatz now is stepping into the role as permanent CEO leads to that Martin Edblad can focus on the areas he is most devoted to and in which he brings a unique competence to the Group: strategy and M&A. I would like to thank Martin for the very commendable work he has put in over the past year, and I can confirm that the company is in a very healthy position. I am pleased that he can now fully devote himself to laying the foundation for the Group’s continued long-term growth.”
Martin Edblad, newly appointed Head of Strategy and M&A of Bygghemma Group, comments: “I am very satisfied with what we have accomplished in the past year. The Group is now in a great position as a leader in online furniture, home furnishings and DIY, with a strong portfolio of proprietary brands and a well-developed ecosystem of products and services. It is a privilege to now be able to devote my time to the areas that I am most committed to: the Group’s long-term strategy and M&A work. The company is stronger than ever, and as such it feels like an excellent time to hand over the reins to Adam Schatz, who is an exceptional leader and a very good communicator with a passion for building a strong organisation together with our colleagues, and thereby being able to assist our customers in the best possible way, throughout all our channels and platforms.”
Adam Schatz, newly appointed President and CEO of Bygghemma Group, comments: “I am convinced that the strategy implemented by the management group is the correct one, and my focus will be on working with the organisation to further strengthen our customer offering: a complete ecosystem consisting of the market’s leading online product portfolio of external and proprietary brands as well as services for the home. We have entered 2020 on the back of a record-breaking 2019, a year in which we clearly strengthened our position as the leading Nordic e-commerce retailer within furniture, home furnishings and DIY. I feel privileged to be taking the helm of a leading, profitable and cash-generating growth company with strong momentum.”
For more information, please contact:
Adam Schatz, President and CEO of Bygghemma Group
Tel: +46 (0)709 32 43 00. E-mail: firstname.lastname@example.org
Martin Edblad, Head of Strategy and M&A for Bygghemma Group. Telephone: +46 (0)73 424 68 51. E-mail: email@example.com
Johan Hähnel, Head of Investor Relations
Tel: +46 (0)70 605 63 34. E-mail: firstname.lastname@example.org
This information is information that Bygghemma Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8:00 p.m. CET on 20 February 2020.
About Bygghemma Group
Bygghemma Group is the leading online supplier of products and services in DIY and Home Furnishing in Europe. We offer our customers a broad ecosystem of products and services and conduct operations in two segments: DIY and Home Furnishing. With over 500,000 products, we provide the broadest product range in the market at the most competitive prices, and strive to create the most attractive e-commerce environment by combining an unbeatable product range with smart technology, leading product expertise and a broad range of services. The Group includes over 50 online sites – including e-commerce stores like www.bygghemma.se, www.trademax.se, www.chilli.se and www.furniturebox.se – and over 80 showrooms. The Group has its head office in Malmö and is listed on Nasdaq Stockholm Mid Cap. In 2019, the Group had sales of SEK 6.2 million and more than 1,500 employees.