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    Management Change

    2011-08-15 08:00 - Regulatory press release
    CDON Group AB (publ.), one of the leading e-commerce groups in the Nordic region, today announced that Mikael Olander has tendered his resignation as President and Chief Executive Officer to the Group’s Board of Directors. Mikael Olander has a twelve month notice period and will continue in his current role until a replacement has been appointed and he has handed over his responsibilities. A search will be initiated immediately to recruit a suitable successor, as CDON Group moves into the next stage of its development following its demerger from Modern Times Group MTG AB and its listing on Nasdaq OMX Stockholm in December 2010.

    Hans-Holger Albrecht, Chairman of the Board of Directors, commented: “I would like to thank Mikael for his eleven years of dedicated service and leadership. He has successfully managed the largely organic development of CDON Group into a leading e-commerce player in the Nordic region, and has overseen the first steps in its international expansion. CDON Group is well-positioned to continue to capitalise on the ongoing migration of retail sales from the high street to the internet, and has established itself as the market leader across four key vertical segments, with a range of well recognised internet stores with broad product assortments.”