STOCKHOLM, Sweden (News release) -- As a final step in the split of the SCA Group into two listed companies, the Board has - 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.