STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
SCA (Svenska Cellulosa AB) (STO:SCAA) (STO:SCAB)
SCA’s Board of Directors has appointed Magnus Groth as new President and CEO. Magnus Groth is today President of SCA’s Business Unit Consumer Goods Europe and has previously among other things been CEO of a listed company. The appointment of Magnus Groth is effective March 1.
SCA’s Board announced today the appointment of Magnus Groth as President and CEO of SCA. Magnus Groth has worked at SCA since 2011, and his role as President of the Business Unit Consumer Goods Europe at SCA has given him deep knowledge of SCA, its customers and consumers as well as their needs. Magnus Groth also has extensive experience among other things as CEO of the listed company Studsvik. Magnus Groth has taken an active part in developing SCA into a global leading hygiene and forest products company with strong brands, fantastic employees and successful value creation for shareholders and other stakeholders.
The Board finds that Magnus Groth is the right person to continue to develop SCA in line with the strategy to focus on growth, innovation and efficiency. A key factor of success in Magnus Groth’s leadership has been to make continuous improvements for customers and consumers through innovation and cost efficiency.
”It is a great responsibility to lead SCA and I have proudly accepted. I am also humble to this task. Now we will go from today’s position as a leading global hygiene and forest products company to continuously develop SCA going forward”, says Magnus Groth, appointed President and CEO of SCA.
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.
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