The Board of Directors of Kinnevik AB ("Kinnevik") today announced that Lorenzo Grabau is leaving Kinnevik with immediate effect. Joakim Andersson has been appointed acting CEO. A search process for Lorenzo's successor now will be undertaken by the Board.
Chairman of the Board, Tom Boardman commented:
"Lorenzo Grabau has made a significant contribution to Kinnevik in leadership positions over the past 4 years, the last 2.5 years as CEO. He has built a strong team and successfully streamlined and consolidated our portfolio and assets. Kinnevik is now well-positioned to enter the next phase of its strategy of investing in and building leading digital consumer brands."
Lorenzo will remain in his positions in the Boards of Directors of Millicom, Qliro Group, Tele2 and Zalando. Joakim Andersson has been appointed acting CEO. Joakim has been Chief Financial Officer since February 2015. He joined Kinnevik in 2001 and has over the last 15 years held a number of positions in the finance organization including Group Treasurer from 2007.
PRESS CONFERENCE AND AUDIOCAST
There will be a press conference today, 7 December 2016, at 10.30 am CET with Tom Boardman, Chairman of the Board, Joakim Andersson, Acting CEO, Chris Bischoff, Senior Investment Director and Torun Litzén, Director of Corporate Communications.
Address: Brunnsgränd 6, 111 31, Stockholm, Sweden
Link to the audiocast: http://edge.media-server.com/m/p/bfbz4ejq
Those who wish to participate in the conference call are welcome to dial-in on the below numbers. To ensure that you are connected to the conference call, please dial in and register your attendance a few minutes before the conference call begins.
Dial-in numbers:
SE: +46 8 50556474
UK: +44 2033645374
The conference will be held in English, no registration in advance is required.
This information is information that Kinnevik 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, at 07.30 CET on 7 December 2016.
For further information, visit www.kinnevik.com or contact:
| Tom Boardman, Chairman | Phone +46 (0)8 562 000 00 |
| Torun Litzén, Director Investor Relations | Phone +46 (0)8 562 000 83 Mobile +46 (0)70 762 00 83 |
Kinnevik is an industry focused investment company with an entrepreneurial spirit at its heart. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.