Michael Kaltenborn appointed CSDO at Karo
Karo Healthcare (“Karo”) has appointed Michael Kaltenborn as Chief Strategy & Corporate Development Officer (CSDO).
The appointment of Michael Kaltenborn reflects Karo’s ambition to grow via M&A and to continue to acquire attractive consumer healthcare brands and portfolios. The appointment strengthens the international profile of Karo’s organization and leadership team.
“We are excited to welcome Michael to Karo, and I am pleased that we have been able to attract such a strong profile to Karo. Michael brings a unique and strong M&A track record and has been involved in more than 100 transactions. He has a strong transactions toolbox and a strong, international network, built during his 20 years of service at Bayer and EY, to Karo. I look forward to working closely with Michael to continue Karo’s rapid expansion and growth, and to shape Karo’s strategy moving forward.”, says Christoffer Lorenzen, CEO.
Michael joins Karo from Bayer where he headed Consumer Healthcare M&A and was also responsible for the Commercial Evaluation, Separation & Integration and Health, Safety & Environment functions. During his 15 years at Bayer, Michael built an extensive M&A toolbox, across a range of transactions, including: the sale of Derm Rx (Intendis) to Leo Pharma in 2018, the divestment of Currenta to Macquarie, the divestment of Coppertone to Beiersdorf and of Dr. Scholl’s to Yellowwood in 2019, the acquisition of Care / Of in 2020 and the acquisition of Gloryfeel & Natsana, which were foundational for Bayer’s European e-commerce entry, in 2021/22. Prior to Bayer, Michael spent 5 years at EY as a member of the Transaction Services team. Michael, a German citizen, holds a master’s degree in Business Administration and Management from the University of Münster, Germany.
“I have followed Karo and its development over the past years and have been impressed by the company’s pace, culture, financial growth, and geographical expansion. I am excited about the entrepreneurial spirit of the company and look forward to taking the reins on the M&A expansion agenda as well as the corporate strategy in close collaboration with the management team and our owner, EQT”, says Michael Kaltenborn.
Michael will join Karo on February 1, 2023, and will be a part of the Corporate Management Team, reporting to Christoffer Lorenzen, CEO.
Michael replaces Carl Lindgren who has worked with Karo since 2017. Carl has been instrumental in Karo’s growth journey and has spearheaded an expansive M&A agenda, which has increased the company by 4x in size during his tenure. Carl leaves Karo as part of a planned succession to pursue private investment projects and Board roles.
For further information, please contact:
Christoffer Lorenzen, CEO, +46 735 017 620, christoffer.lorenzen@karo.com
About Karo Healthcare
Karo Healthcare is a leading European consumer healthcare company with the purpose of delivering "Smart choices for everyday healthcare", empowering people to live life to the fullest. Our products are available in more than 90 countries and include trusted original brands such as E45®, Pevaryl®, Proct®, AlphaFood, Nutravita, Flux®, Locobase®, Multi-Gyn® and Paracet®. More than 400 colleagues work out of the headquarters in Stockholm and its international hubs. Karo Healthcare is since 2019 owned by EQT.
The information was submitted for publication by the contact person set out above, at CET 14:00 on January 16, 2023.
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