LAHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Arise (STO:ARISE)
The company’s Chief Executive Officer, Peter Nygren, has notified the Board of Directors that he will be stepping down from his post as CEO. The process of recruiting a new CEO has been initiated. Peter Nygren will remain without change in his position until a new CEO has been appointed, which is expected to take place no later than 1 March 2016. Even after a new CEO has been appointed Peter Nygren will continue to work for the company as Business Project Manager and by providing support to the organisation.
There is ample time to plan for the change. The Board therefore deems that there is every opportunity to recruit a new CEO who can be appointed well before 1 March 2016.
"I feel very proud of Arise and of what we have achieved. Falling electricity and certificate prices have obliged us to adapt our business model to new market conditions. Our new business model, which involves – in addition to selling the electricity we generate – building, selling and managing wind farms on behalf of other parties, has been fully implemented and is working well”, Peter Nygren says. “The new CEO will take up his or her post at a time when the company is performing well,” he adds. “This is therefore the right time to bring in new person with the right drive.”
“Peter has made a tremendous contribution to Arise. We of course respect Peter’s decision and will initiate a recruitment process. We have plenty of time and will make every effort to ensure that the right person is recruited. We are very grateful that Peter is prepared to remain at the disposal of the company. This will ensure continuity, and that the new CEO will get a good introduction to the company,” Joachim Gahm, the company’s Chairman, says.
The recruitment is being managed by an external advisor.
Halmstad 10 June, 2015
ARISE AB (publ)
The information contained herein constitutes information which Arise AB is legally required to publish under the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was released for publication at 15.30 p.m. on 10 June 2015.
About Arise
Arise is one of Sweden's leading wind power companies with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ OMX Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone 46 (0)35 20 20 900, corporate id .no. 556274-6726
E-mail info@arise.se, www.arise.se
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