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Investing.com -- Kinnevik (ST:KINVa) shares jumped 7% after the company announced that its Nomination Committee has proposed Cristina Stenbeck as the new chair of the Board, on Friday.
The move marks a shift for the Swedish investment firm as it looks to reshape its leadership and strategy.
Stenbeck, who previously led the Board from 2007 to 2016, is set to return alongside three new nominees: Camilla Giesecke, Henrik Lundin, and Rubin Ritter.
If approved at the Annual General Meeting on May 12, they will join existing Board members Jan Berntsson, Claes Glassell, and Maria Redin.
Her return follows discussions with major shareholders about Kinnevik’s future direction.
“It will be important to strengthen Kinnevik’s role as a relevant investment firm as it looks to support leading growth businesses,” Stenbeck said.
The leadership shake-up comes as five current Board members—James Anderson, Susanna Campbell, Harald Mix, Cecilia Qvist, and Hans Ploos van Amstel—opt not to stand for re-election.
Anderson, who currently chairs the Board, was credited by Nomination Committee Chair Lawrence Burns for his “profound investment knowledge” and leadership during a challenging period.
The proposed new Board members bring a mix of investment and operational expertise. Giesecke, Klarna’s chief operating officer, has been instrumental in scaling the company.
Lundin, CEO of the IMAS Foundation, oversees a €15 billion investment portfolio. Ritter, a former Co-CEO of Zalando, helped grow the fashion platform into one of Europe’s largest e-commerce firms.