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Swedencare

Swedencare

Swedencare AB (publ) present new CEO to lead the company towards the financial goals in 2024 and adopts new dividend policy

09:00 / 23 October 2019 Swedencare Press release

The Board of Directors has appointed the company's CFO, Jenny Graflind, as the new CEO to lead the company towards the long-term goals. Jenny Graflind assumes her position as CEO on November 1, 2019.

The Board of Directors of Swedencare AB (publ) ("Swedencare") has set the following financial and strategic goals for 2024.
  • Financially, sales in 2024 will reach 500 MSEK with an operating profit (EBIT) of at least 25%, at the same time as our customers perceive ProDen PlaqueOff® as the market's best product for dogs and cats dental and oral health.
The Board has at the same time updated the dividend policy as follows;
  • Swedencare will pay a dividend that takes into account the Group's earnings development and consolidation- and investment needs, liquidity and financial position. The goal is to pay a dividend of 40 percent of the profit after tax.

The current CEO Håkan Lagerberg continues to work on some strategic projects until the end of the year and then continues his work for Swedencare as a board member.

"My board colleagues and I are both grateful for, and impressed by, the work and energy that Håkan has contributed to the company's development into the global and highly profitable corporate group Swedencare is today. As we now increase market initiatives while setting new long-term financial goals, I am pleased to welcome Jenny as the new CEO, through which we will have continuity in our continued work to create a leading animal health company focused on oral health."
  • Per Malmström, Swedencare's Chairman of the board
"Swedencare is now entering a new phase with new goals and I feel it is time to hand over operational responsibility after almost six years. With Jenny, Swedencare gets an extremely competent CEO who knows the business well and has the energy needed to take the company to new levels and success."
  • Håkan Lagerberg
"It has been a great pleasure to work at Swedencare together with Håkan for almost three years and during that time we have had, to say the least, a fantastic development. I take over a well-functioning organization that is built on a wonderful and competent team together with a strong brand in an exciting industry. I look forward to taking over the baton and leading Swedencare into the future."
  • Jenny Graflind

The work to review the finance functions have started, until decisions are made regarding this Jenny Graflind will remain in the role as CFO.

 

About Swedencare 

Swedencare develop, produce, market and sell premium products on the global and fastgrowing market within animal healthcare for cats, dogs and horses. The product groups ProDen PlaqueOff and NutriScience are represented on approximately fifty markets in all parts of the world, including the headquarter in Malmö, seven subsidiaries in the Nordics, United States, France, Spain, Greece, Great Britain and Ireland and through an external distribution network.  Swedencare's sales have increased significantly over the last few years with strong margins and results. The board of directors and the management have a wide and extensive experience of international marketing and sales.

This is information that Swedencare AB 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 above, at 09:00 CET on October 23rd, 2019.

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