CEO of Bjorn Borg Steps Down
Björn Borg, Arthur Engel
"It has been five stimulating and intense years during which I, along with my fantastic colleagues, have worked to make Björn Borg an even stronger brand," says Arthur Engel, outgoing CEO of Björn Borg. "I am especially proud of our efforts to build a competent organization and strong foundation of values within Björn Borg as a platform for further development and growth. Now it is time for me to move on at a point which I feel is right for me and at the stage the company is in."
"Arthur Engel has contributed with great determination and drive to strengthening Björn Borg's position as an international leader in fashion underwear and guided the Group through a period of tough market conditions. During this time the Group has expanded to include our own operations in England and Finland, a broadened product range and growing e-commerce operations," says Fredrik Lövstedt, Chairman of the Board.
Björn Borg is required to make this information public in accordance with the Financial Instruments Trading Act or the Securities Market Act. The information was released for publication on September 30, 2013 at 8:45 am (CET).
About Björn Borg
The Group owns the Björn Borg trademark and its core business is underwear. It also offers sportswear and fragrances as well as footwear, luggage & bags and eyewear through licensees. Björn Borg products are sold in around thirty markets, of which Sweden and the Netherlands are the largest. The Björn Borg Group has operations at every level from branding to consumer sales in its own Björn Borg stores. Sales of Björn Borg products in 2012 amounted to about SEK 1.6 billion at the consumer level. Group net sales amounted to about SEK 551 million in 2012, with 139 employees. The Björn Borg share has been listed on NASDAQ OMX Nordic in Stockholm since 2007.