STOCKHOLM, Sweden, June 15, 2017 /PRNewswire/ --
As a final step in the split of the SCA Group into two listed companies, the Board has today – in connection with Magnus Groth being relieved of his duties as President and CEO – appointed Ulf Larsson as President and CEO of SCA. Magnus Groth has been appointed President and CEO of Essity Aktiebolag (publ), which has today been admitted for trading on Nasdaq Stockholm.
The distribution of the SCA Group's hygiene and health company, Essity Aktiebolag (publ), approved by the 2017 Annual General Meeting, has now been completed. As previously communicated, the forest products company SCA has a new Executive Management Team effective today.
In line with this, the Board of Directors has relieved Magnus Groth of his duties as President and CEO and appointed Ulf Larsson as President and CEO, and relieved Fredrik Rystedt of his duties as Executive Vice President of the forest products company SCA. Magnus Groth and Fredrik Rystedt will remain in their positions at Essity Aktiebolag (publ) as President and CEO and Executive Vice President and CFO, respectively.
Ulf Larsson holds a B.Sc. Forestry and has been an employee of the SCA Group 1992. He has served as President of the Forest Products business area since 2008, which following the now completed distribution, comprises the forest products company SCA. He has also been Executive Vice President of the company since August 2016.
Toby Lawton will hold the position of CFO in the new Executive Management of the forest products company SCA. Toby Lawton holds a Master's Degree and between 2014 and 2017 has held the position of CFO at Vinda International Holding Limited, listed on the Hong Kong Exchange.
Further information regarding the new Executive Management Team of the forest products company SCA is available on the company's website (www.sca.com).
In accordance with the resolution passed at the Extraordinary General Meeting on May 17, 2017, the forest products company SCA's Board of Directors will, as of today's date, comprise Pär Boman (Chairman), Charlotte Bengtsson, Lennart Evrell, Annemarie Gardshol, Ulf Larsson, Martin Lindqvist, Lotta Lyrå, Barbara Milian Thoralfsson and Bert Nordberg. The employees have appointed Roger Boström, Hans Wentjärv and Johanna Viklund Lindén as regular Board members and Stefan Lundkvist, Per Andersson and Maria Jonsson as Deputy Board members.
This information is information that SCA is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 8:00 a.m. CET on June 15, 2017.The core of SCA's business is the forest, 2.6 million hectares in northern Sweden. Around this unique resource, we have built a well-developed value chain based on renewable raw material from our own and others' forests. We offer paper for packaging and print, pulp, wood products, renewable energy, services for forest owners and efficient transport solutions. 2016 the forest products company SCA had approximately 4,000 employees and sales amounted to approximately SEK 15,4 bn (EUR 1,6 bn). SCA was founded in 1929 and has its headquarters in Sundsvall, Sweden. More information at www.sca.com.
For further information, please contact:
Björn Lyngfelt, Vice President Group Communication, +46-60-19-34-98
Nils Lindholm, Investor Relations Director, +46-70-585-41-05
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