Cost savings and CEO change at Klimator AB
Klimator AB, a leading player in road climatology, announced today that cost savings will be implemented, and a CEO change will take place.
The board has decided on a cost reduction program due to the automotive sector not developing at the pace we anticipated. We believe that automotive will continue to be an important market for Klimator AB, but revenues from this market will be generated further in the future. The company will review internal, external, and personnel costs with the goal of reducing expenses by approximately 8-9 million SEK annually. This will enable us to achieve profitability with the winter road maintenance business area as the foundation while also maintaining and guarding our position in the automotive sector. The full effect of cost reduction is expected by the end of 2023.
After a successful tenure at Klimator AB, our current CEO, Patrik Simson, and the board have agreed that it is the right time for a leadership transition. Patrik Simson has played a significant role in the company's development and growth during his time as CEO and has been an esteemed leader.
The board has appointed Emil Danielsson as the new CEO of Klimator AB. Emil Danielsson has a solid background in the industry and is currently responsible for the winter road maintenance business area at Klimator AB. We are confident that Emil Danielsson will lead Klimator AB toward continued success and growth.
Per Danielsson, Director of the Board of Klimator AB
Email: per.danielsson@klimator.se
Phone: +46 (0) 70 559 59 88
Partner Fondkommission AB (phone 0046 31 761 22 30, www.partnerfk.se) is the company’s Certified Adviser on Nasdaq First North Growth Market.
About Klimator
Klimator AB is a publicly listed software company with over 30 years of research in applied road climatology. Klimator has two innovations – the data platform Road Condition Data (RCD), providing predictive high precision road weather information, and the sensor fusion solution AHEAD providing real-time detective road weather information. With these innovations, Klimator provides precise and reliable road weather information to the winter maintenance and the automotive industries creating safer roads and enabling scalable autonomous driving (AD) and intelligent driver support systems (ADAS). In 2020, Klimator acquired HedeDanmark's business operations within connected sensors to broaden and strengthen Klimator's product portfolio.
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