Hemtex appoints new Chief Financial Officer

Hemtex’s current CFO, Tommy Svensson, has decided to step down after nearly ten years in the position. Hemtex has appointed Ulf Segerström as its new CFO, effective January 18, 2010. Ulf Segerström will join Hemtex from the dairy Group, Milko, where he has been CFO since 2005.

“I became CFO of Hemtex in March 2000 and have experienced an extraordinary period in the Group’s development in terms of expertise and becoming ready for the stock exchange, as well as an expansion of stores and the workforce. It thus seems like the right time to seek new challenges with the experiences that I have gained from the company,” says Tommy Svensson in a statement. Hemtex is currently engaged in a comprehensive change process, which encompasses a new business strategy and a new customer offering and concept. These strategic initiatives will be implemented in the coming year aimed at reversing the loss-making trend and reporting increased profitability. “The year of change at Hemtex will be 2010. In view of Tommy Svensson’s decision to step down, it is natural to transfer the CFO’s responsibilities to a new force with experience of changes similar to those currently under way at Hemtex. Ulf Segerström’s solid knowledge of operational control and revenue-generating actions make him ideal for the position,” says Hemtex CEO Erik Gumabon. Tommy Svensson will step down from his position at year-end and Hemtex’s Group Controller, Esko Österbacka, will serve as acting CFO until Ulf Segerström takes office on January 18, 2010.

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