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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Telia Company    TELIA   SE0000667925

TELIA COMPANY

(TELIA)
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Telia : Changes in Telia Company's Group Executive Management

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11/21/2019 | 02:01am EST

Stein-Erik Vellan, Senior Vice President and currently CEO of Telia Finland will take over as CEO of Telia Norway as the current CEO Abraham Foss will leave his position. Jonas Bengtsson, Executive Vice President, Group General Counsel and Head of Corporate Affairs, will temporarily assume the role of CEO of Telia Finland until a permanent solution is in place. Heli Partanen, currently Head of Consumer Business in Finland, will simultaneously become acting Vice CEO with full operational responsibility and will be leading the day-to-day business in Finland.

Stein-Erik Vellan who currently is CEO of Telia Finland will replace Abraham Foss as of December 4, 2019. Stein-Erik Vellan joined Telia Company in January 2017 and has previously worked in many different management positions within the global telecommunications industry for almost 20 years.

"I have really enjoyed the last three years in Finland. We've gone through a strong transformational phase with acquisitions in the IT sector to build the best ICT partner for our enterprise customers, starting the Liiga cooperation and focusing on the growing e-sports scene. We're also on our way to become a media company, and thanks to these new initiatives and partnerships, we have secured an excellent starting point for the future for Telia Finland," says Vellan.

"Stein-Erik is an appreciated and strong leader and has headed our Finnish operations in an excellent way. I'm grateful for his contribution to secure our position of being more relevant to our Finnish customers and I'm confident that he will make Telia Norway even more competitive over the coming years," says Christian Luiga, acting President and CEO of Telia Company.

Abraham Foss, current CEO of Telia Norway will leave his position. He joined Telia Company on June 1, 2015, following an international career at among others Malaysian communications service provider Maxis Communications.

"Abraham has successfully transformed Telia Norway from being mobile only to a complete and relevant service provider with the best networks. During his tenure Telia has not only integrated the acquisition of Tele2's Norwegian business and acquired and integrated Phonero and Get/TDC, but has doubled its service revenues and increased EBITDA 2.5 times to NOK 5.5 billion. It has been an honor to work with Abraham over these years and I thank him for his strong contribution ensuring Telia Norway has a solid business foundation. I wish him all the best in his future endeavours," says Christian Luiga.

"I have had an incredibly exciting time at Telia and I am proud of what my team and all our employees have achieved. Since I took on the job in 2015, we have come a long way in building the new Telia Norway, and our success has been recognized by the market. The process to build a full-fledged provider within both mobile and fixed networks as well as entertainment, is well under way. Not least, we are set to build a national 5G network by 2023. As Telia is now moving into a new phase, it was natural to review my options and the conclusion I ended up with was that I am going to look for new challenges outside of the company," says Abraham Foss.

Jonas Bengtsson, Executive Vice President, Group General Counsel and Head of Corporate Affairs, will temporarily assume the role of CEO of Telia Finland until a permanent solution is in place. Heli Partanen, currently Head of Consumer Business in Finland, will simultaneously become acting Vice CEO with full operational responsibility and will be leading the day-to-day business in Finland.

The process to recruit a new CEO of Telia Finland will be initiated immediately.
For more information, please contact our press office +46 771 77 58 30, visit our Newsroom (http://www.teliacompany.com/sv/nyhetsrum/) or follow us on Twitter @Teliacompany (https://twitter.com/Teliacompany).

Forward-Looking Statements
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Telia Company.
 
We're Telia Company, the New Generation Telco. Our approximately 20,000 talented colleagues serve millions of customers every day in one of the world's most connected regions. With a strong connectivity base, we're the hub in the digital ecosystem, empowering people, companies and societies to stay in touch with everything that matters 24/7/365 - on their terms. Headquartered in Stockholm, the heart of innovation and technology, we're set to change the industry and bring the world even closer for our customers. Read more at www.teliacompany.com

https://news.cision.com/telia-company/r/changes-in-telia-company-s-group-executive-management,c2969407

https://mb.cision.com/Main/40/2969407/1147831.pdf

(c) 2019 Cision. All rights reserved., source Press Releases - English

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Financials (SEK)
Sales 2019 86 053 M
EBIT 2019 13 124 M
Net income 2019 8 549 M
Debt 2019 85 858 M
Yield 2019 5,84%
P/E ratio 2019 20,2x
P/E ratio 2020 16,7x
EV / Sales2019 2,97x
EV / Sales2020 2,79x
Capitalization 170 B
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Mean consensus HOLD
Number of Analysts 23
Average target price 41,22  SEK
Last Close Price 41,29  SEK
Spread / Highest target 21,1%
Spread / Average Target -0,16%
Spread / Lowest Target -17,7%
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Managers
NameTitle
Christian Carl Peter Luiga President, CEO & Executive Vice President
Lars-Johan Jarnheimer Chairman
Magnus Zetterberg COO, Head-Global Services & Operations
Douglas Gordon Lubbe Chief Financial Officer
Agneta Ahlström Director
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