Investment AB Kinnevik (publ) ("Kinnevik") today announced that its Chairman, Cristina Stenbeck, will assume the role of Executive Chairman and that Board member Dame Amelia Fawcett DBE will assume the role of Deputy Chairman.
In order to best capitalize on Kinnevik's growth opportunities and support the development of its investee companies across multiple continents, the Board of Directors of Kinnevik has appointed its Chairman, Cristina Stenbeck, to take on the role of Executive Chairman. Cristina Stenbeck's role will include leadership of key strategic initiatives, and the establishment and management of international partnerships.
The Board of Directors has also appointed Dame Amelia Fawcett to become Deputy Chairman of Kinnevik. In her new capacity, Dame Amelia will contribute to the entrepreneurial leadership of the Company while ensuring that the highest standards of corporate governance are maintained.
Cristina Stenbeck commented: "As Executive Chairman, I will focus on further developing our companies in our core markets and new geographies. I will continue to seek new investment opportunities both directly and through key partnerships. I look forward to working more closely with Dame Amelia, the Board and our management team to build our group into the leading global family-led, growth markets-focused investment company."
Dame Amelia commented: "Since joining the Kinnevik Board in 2011, I have been impressed by Cristina's vision, energy and drive, and so it is a great privilege to become Deputy Chairman of this very special company, which has more than 75 years of entrepreneurship under the same group of family owners. I look forward to working more closely with Cristina in her new role as Executive Chairman and helping her and the Board to drive further growth."
The information is of such character, which Kinnevik shall disclose in accordance with the law on Trading with Financial Instruments (1991:980) and/or the Securities Market Act (2007:528). The information was distributed for disclosure at 8.00 a.m. on 23 October 2013.
For further information, visit www.kinnevik.se or contact:
|Cristina Stenbeck, Chairman of the Board||+46 (8) 562 000 00|
|Torun Litzén, Director Investor Relations||+46 (0)70 762 00 83|
Investment AB Kinnevik was founded in 1936 and thus embodies more than 75 years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around the following business sectors; Telecom & Financial services, Online, Media and Industry and other investments. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
The Kinnevik's class A and class B shares are admitted to trading on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.