Polygiene establishes a new group management team to accelerate growth, profitability and organizational development
As a result of a 100-day analysis conducted by CEO Ulrika Björk since her appointment as new CEO of Polygiene AB, a new group management team will be put into place effective today. The aim is to accelerate growth, cost control, profitability and organizational development.
Haymo Strubel, Director of Sales for Europe, has been appointed as Chief Sales Officer. The position and duties of Vice President, New Ventures and Strategies, will become the responsibility of Chief Commercial Officer, held by Peter Sjösten. Finally, Paul Middleton has been appointed as Chief Technology Officer. Previously, Kristian Populin was appointed as Chief Financial Officer and Mats Georgson assumed the role of Chief Marketing Officer. All are now part of the newly formed group management team, led by CEO Ulrika Björk. “We have conducted a thorough review of how best to strengthen Polygiene to accelerate growth, boost profitability and further develop our organization,” says Ulrika Björk. “To achieve our net sales and profitability goals for 2018 as well as our financial goals of more than MSEK 400 in revenue and an EBIT of more than 20% by 2022, we must have a more structured organization in place with clearly defined roles and responsibilities.
“A functional management group with competent and responsible managers is key. The immediate termination of Christian von Uthmann’s employment earlier this month should therefore be seen as a consequence of a necessary change,” commented Björk. “We are now aiming to transform our organization into one that demonstrates the highest levels of professionalism – one where bottlenecks do not cause undue delays, where we quicken the pace of the company, strengthen our sales process, increase cost control and drive digitalization in marketing.”
“During the first quarter of this year, we devoted a lot of resources to improving cost control and are seeing results. Now it’s time to take a look at sales and marketing,” adds Björk. “I am very pleased with our new management team and, together, we are ready to take Polygiene to the next level.”
“The Board of Directors has been working towards professionalizing the organization for some time,” says Richard Tooby, Chairman of the Board. “By establishing a new group management team with really good individuals and with clearly defined roles and responsibilities, we are convinced that we can take Polygiene to the next level and meet both our short and long-term financial goals. We are very pleased with the steps taken now and earlier in April to create a stronger Polygiene,” says Richard Tooby.
This information is information that Polygiene AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on April 24, at 8:00 CET.
For press images and more information, visit ir.polygiene.com or contact:
Polygiene’s IR by e-mail: ir@polygiene.com
Ulrika Björk, CEO, Mobile: +46 (0) 70 921 12 75, e-post: ubj@polygiene.com
Richard Tooby, Chairman of the Board, Polygiene. Mobile: + 46 (0)70 219 31 05, e-mail: rt@polygiene.com
About Polygiene
Polygiene is the world-leading provider of odor control technology and Stays Fresh solutions for clothing, sports equipment, lifestyle, textiles and other materials to help people stay fresh and confident. Polygiene brings the Scandinavian values of quality and care for the environment to life through its products and services. More than 140 global premium brands have chosen to use Polygiene Stays Fresh Technology in their products. Polygiene was established in 2006 and is listed on Nasdaq First North in Stockholm, Sweden. Erik Penser Bank AB acts as its Certified Adviser.