Appointment of CFO of Nordic Entertainment Group
Following the announcement of the process to initiate a split of MTG into two companies and the appointment of members of the senior management team of Nordic Entertainment Group (NENT Group), Gabriel Catrina has been appointed as EVP & Group Chief Financial Officer (CFO) of Nordic Entertainment Group with effect from 1 July. He will be part of the NENT Group leadership team, which is now complete, and report to Anders Jensen, President and CEO of Nordic Entertainment Group.
Gabriel Catrina is currently MTG Chief Strategy Officer and will combine the CFO role with his previously announced position as EVP, Chief Strategy Officer and Head of M&A for NENT Group with effect from 1 July. Gabriel joined MTG in September 2013, before which he was Head of the Media, Communications and Technology Practice for management consulting firm Booz & Company in the Nordic region.
Gabriel has extensive experience from working in a listed company environment, managing key processes of strategic planning, budgeting, business control, as well as Board processes and financial and business reporting.
Anders Jensen, MTG Executive Vice President and CEO of Nordic Entertainment and President and CEO of Nordic Entertainment Group from 1 July: “Securing the very best talent in every position is a priority for Nordic Entertainment Group as we continue our progress towards the spin-off and listing. Gabriel’s proven strategic and financial planning skills, together with his passion for building businesses, will be invaluable to the Group’s future success.”
Nordic Entertainment Group will comprise MTG’s current Nordic Entertainment and MTG Studios business segments, as well as Splay Networks. This unique entertainment ecosystem includes the Viasat pay-TV operations, the Viaplay and Viafree streaming services, MTG’s free-TV channels and radio stations, 30 production companies and Splay’s social video and influencer networks.
The Group leadership team for Nordic Entertainment Group was announced on 19 April 2018 and will be effective from 1 July. The Board of Directors of Nordic Entertainment Group will be announced in due course.
About the split of MTG
On 23 March 2018 it was announced that the Board of Directors of MTG has decided to initiate a process to split MTG into two companies – Modern Times Group MTG AB and Nordic Entertainment Group – by distributing all the shares in Nordic Entertainment Group (comprising MTG Nordic Entertainment, MTG Studios and Splay Networks) to MTG’s shareholders, and listing these shares on Nasdaq Stockholm.
The Board intends to propose the distribution and listing of the shares at an Extraordinary General Meeting of its shareholders during the second half of 2018. The Board’s final proposal will be subject to the previously announced combination of MTG’s Nordic Entertainment and MTG Studios businesses with TDC Group not being completed.
More information about the split can be found here.
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NOTES TO EDITORS
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