Erik Strand resigns as CEO of Poolia

Erik Strand, Managing Director and Chief Executive Officer of Poolia AB, has given notice of his intention to resign from the company. He will remain with Poolia until further notice and recruitment of his successor commences immediately.

“When I joined Poolia in 2003, the company had been reporting losses for 11 consecutive quarters. My primary task was to restore profitability through a combination of continued efficiency-enhancement measures and aggressive initiatives. I am proud and gratified to say that 2006 was the best year ever in the Poolia Group’s history and that the company’s market capitalization more than tripled during the year. Since Poolia will now enter a phase requiring an increased focus on international operations, I believe this is a suitable time for me to leave the company. I will, of course, miss all the fantastic people at Poolia, but I am now looking forward to devoting all my attention to developing my own businesses – a real estate company and a private equity company that focuses on IT and telecommunications,” says Erik Strand.

“Erik Strand’s efforts to restore Poolia to profitability have been excellent. The company’s recovery in Sweden has been particularly noticeable. Erik Strand has turned Poolia around over his years with the company, and it has now regained the status of healthy profitability and a favourable cash flow. We would like to thank Erik Strand for his fine contribution and wish him every luck in his other assignments,” says Björn Örås, Chairman of the Board and founder of Poolia.

Poolia is a decentralized organization whose operations are held together by a Parent Company, while its business operations are conducted in subsidiaries that have autonomous company managements. In Sweden, business operations are conducted in two separate limited liability companies, Poolia Sverige AB and Poolia Vård AB. In other parts of Europe, Poolia currently has subsidiaries in the United Kingdom, Germany, Denmark and Finland.