STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
SCA (Svenska Cellulosa AB): (STO:SCAA)(STO:SCAB)
- The last months I have spent a large part of my time on the ongoing audits related to SCA. A preliminary investigation has also started, which means that the ability to focus on the business has been further reduced. The decision that the Board and I have reached in the interest of SCA, our shareholders, employees and my family is that I step down as President and CEO, says Jan Johansson.
In line with the Board and in accordance with the employment contract, which stipulates that Jan Johansson has a notice of two years (fixed salary no bonus), Jan Johansson will be at the disposal of the Board and the appointed President and CEO.
- SCA is today a leading global hygiene and forest products company with strong brands, fantastic employees, recognized sustainability work and SCA has great potential to continue to create shareholder value. As President and CEO, it has been very stimulating to lead SCA’s journey of change since 2007, Jan Johansson concludes.
SCA’s Board writes in a joint announcement:
- The Board regrets, but understands and respects that Jan Johansson cannot effectively lead SCA under the current conditions. The Board would like to emphasize that there is no new information related to the ongoing audits. The Board has continued great confidence in Jan Johansson.
- As President and CEO, Jan Johansson has in a very competent and value creating way led SCA during an important and successful journey of change for growth and innovation. Now we have a platform for global expansion. The Board would like to extend their warmest thanks for his valuable contributions as President and CEO.
NB This information is such that SCA must disclose in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on February 10, 2015, at 18:30 CET.
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo and Vinda. As Europe’s largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 44,000 employees. Sales in 2013 amounted to approximately SEK 93bn (EUR 10.7bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm. For more information, visit www.sca.com.
This information was brought to you by Cision http://news.cision.com