Nomination Committee proposes new Chairman of the Board
The Nomination Committee of CDON Group AB (publ) (“CDON Group” or “the Group”) shareholders, comprised of Cristina Stenbeck on behalf of Investment AB Kinnevik; Ryan Schaper on behalf of Point Lobos Capital, LLC; Jeffrey Pierce on behalf of Luxor Capital Group LP; and Björn Lind on behalf of AMF and AMF Funds, today announced that it will propose the re-election of Mia Brunell Livfors, Mengmeng Du, Lars-Johan Jarnheimer, Lars Nilsson, Henrik Persson and Florian Seubert as non-executive Directors of the Board of CDON Group at the Annual General Meeting of shareholders that will be held on May 8, 2012.
Furthermore, the Nomination Committee will propose to elect Lars-Johan Jarnheimer as Chairman of the Board at the upcoming Annual General Meeting.
As part of an organised succession plan for the Chairman of the Board role, the Nomination Committee is pleased to announce a new Chairman of the Board of CDON Group. The proposed Chairman of the Board, Lars-Johan Jarnheimer, has been a member of the Board of CDON Group since August 2010. Lars-Johan has extensive professional experience from his operational roles leading organizations within the retail, media and telecom sectors. Lars-Johan is currently Chairman of the Boards of Directors of Eniro AB, Baby Björn AB and Arvid Nordquist Handels AB and a member of the Boards of INGKA Holding B.V. (the parent company of the IKEA Group of Companies), Apoteket AB and Egmont International Holding A/S. He is also Chairman of the BRIS (Children's Rights in Society) charity. Lars-Johan served as Chief Executive Officer of Tele2 AB from 1999 to 2008, and previously held various senior positions at IKEA, Hennes & Mauritz and Comviq AB. Lars-Johan graduated with a Master's Degree in Economics and Business Administration from Växjö and Lund universities in Sweden.
Cristina Stenbeck, Chairman of the Nomination Committee, commented: “On behalf of CDON Group's largest shareholders, I am very pleased that Lars-Johan Jarnheimer has accepted our nomination to be elected Chairman of the Board of CDON Group. Mr. Jarnheimer’s background as former CEO of a large listed company in Sweden will provide strengthened leadership to the management of CDON Group. His experience as Chairman of the Board of several listed companies will add a further dimension of both continuity and strategic guidance in the next phase of CDON Group’s growth and development.”
“I would also like to thank Hans-Holger Albrecht for his significant contribution as Chairman of the Board. Hans-Holger has been instrumental in the successful development of the Group into an e-commerce market leader over the past twelve years, as well as its transition into an independent and separately listed company.”
Information with respect to the proposed Directors of the Board is available on CDON Group’s website at www.cdongroup.com.
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For further information please visit cdongroup.com or contact:
Cristina Stenbeck, Chairman of the Nomination Committee
Tel: +46 (0) 8 562 000 00
Investor and analyst enquiries:
Martin Edblad, Chief Financial Officer
Tel: +46 (0) 700 80 75 03
Email: ir@cdongroup.com
Press enquiries:
Fredrik Bengtsson, Head of Communications
Tel: +46 (0) 700 80 75 04
Email: press@cdongroup.com
About CDON Group
CDON Group is the leading e-commerce group in the Nordic region. Established in 1999, the Group has continuously expanded its product portfolio and is now a leading e-commerce player in the Entertainment (CDON.COM, BookPlus.fi, Lekmer.com), Fashion (Nelly.com, Heppo.com, Members.com), Sport & Health (Gymgrossisten.com, Bodystore.com) and Home & Garden (Tretti.com and Rum21.se) segments. The group reported revenues of SEK 3.4 billion for the full year 2011. CDON Group is listed on the NASDAQ OMX Stockholm Mid-cap list under short name CDON.
The information in this announcement is that which CDON Group AB is required to disclose under the Securities Markets Act. This information was released for publication at 08:00 CET on 2 April 2012.