PAYNOVA STRENGTHENS MANAGEMENT PRIOR TO PROACTIVE INITIATIVES IN 2008
(NGM: PAY)
Paynova is working proactively to further strengthen growth during 2008. The company has, therefore, strengthened its management team with two individuals with solid experience of the industry: Björn Wahlgren, who previously worked for leading global supplier of electronic payment solutions First Data International, and Henrik Höglund, from online gaming company Sulake. Both will be part of Paynova’s management team.
“The recruitment of Björn and Henrik represents a forceful, important strengthening of Paynova. I view this as a natural continuation of development at Paynova. During 2008, we will really advance our position. We have got a handle on the organisation and costs – this year sales will be the focus. Björn and Henrik will play key roles in Paynova’s proactive initiatives during the year,” says Per Sunnemark, CEO and Group President of Paynova.
RESTRUCTURED PAYNOVA POSITIONED FOR GROWTH
Following the restructuring and two capital injections during 2007, Paynova has an efficient and focused organisation, a stronger balance sheet, significantly reduced costs and stable, high growth in transaction volumes month by month. The completed restructuring, together with other measures, has positioned Paynova for growth during 2008.
FURTHER STRENGTHENING OF THE MANAGEMENT TEAM
As part of Paynova’s proactive initiatives during 2008 and onward, Paynova’s management team will gain two strong additions in January. Björn Wahlgren will take on operational responsibility for developing and coordinating Paynova’s value offer for the market, and Henrik Höglund will serve as business supervisor for the online gaming segment.
Björn Wahlgren has 40 years’ experience of finance, insurance and payment operations and has been CEO of Eurocard, Rikskuponger and Gota Finans, among others. Björn was most recently national supervisor for First Data International in Sweden. First Data is one of the world’s leading independent suppliers of solutions for electronic payments, with over five million customers across the world.
Björn Wahlgren’s role as operational supervisor involves managing the development of Paynova’s international payment service and ensuring an optimum dynamic solution for the financial infrastructure, i.e. international banks and card companies.
Henrik Höglund comes most recently from online gaming company Sulake, where, among other things, he was Global Senior Vice President Advertising & Partnerships with responsibility for business development of the leading online game Habbo Hotel on 18 markets. Prior to that, Henrik was also sales manager for Google in Sweden, and set up the media company Espotting Scandinavia, for which he was also CEO.
Henrik Höglund will be responsible for developing Paynova’s prioritised online gaming segment, where the company has long had a strong market position through established relationships with some of the leading gaming companies such as Mindark, King.com, Gala-Net, IMVU and Sulake, among others.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Per Sunnemark, CEO and Group President
Telephone: +46 (0)70-147 67 55
ABOUT PAYNOVA
Paynova offers an international, account-based complete service for payments via the Internet. With Paynova as the only counterpart, e-retailers can get a payment guarantee for 21 payment options with credit cards, debit cards and Internet banks, in 12 languages with 11 currencies in a security-certified interface (PCI). Consumers can open an account, a Paynova Wallet, for free on the Internet to make purchases simpler and more secure, as well as look after transfers between family members, friends and acquaintances. Paynova has agreements with around 1 800 e-retailers. Most are found in the following prioritised segments: travel, retail and media/network games. The company has been listed on NGM Equity since February 2004. For more information: www.paynova.com.