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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Thule Group AB (publ)    THULE   SE0006422390

THULE GROUP AB (PUBL)

(THULE)
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Thule : Fred Clark, Business Area President Region Americas, to retire from Thule Group in 2021 and announcement of new Corporate Management team set-up

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09/10/2020 | 03:45am EDT

Fred Clark, Business Area President for Region Americas has informed the company that he has decided to retire early 2021. In conjunction with this change and in order to best meet the future demands of the business and capture growth opportunities, Thule Group has decided to implement a new Corporate Senior Management structure for the group going forward, valid as of October 1, 2020.

After close to three decades as a key contributor in the growth of Thule Group in North and Latin America, Fred Clark has informed the company about his plans to retire during early 2021 once a new Business Area President has been recruited.

“Fred’s business drive, product and industry knowledge and energy has contributed greatly to the success of Thule Group in the highly competitive American market. With a strong commercial and operational team in place, he will now hand over the baton to a new person as we strive for future profitable growth in traditional as well as newer categories”, says Magnus Welander, CEO and President Thule Group.

The recruitment of a commercially driven Business Area President for Region Americas will now start and we expect to have the position filled at the latest at the beginning of next year. The role will continue to be based out of Seymour, Connecticut, USA.

At the same time the company has also decided to make the following changes to the company's group management team:

  • Karl-Johan Magnusson, currently Vice President Product Development, will be promoted to Senior Vice President Product Development.
  • Rickard Andersson, currently Vice President Supply Chain Region Europe & Rest of World, will be promoted to Senior Vice President Supply Chain.

Karl-Johan and Rickard will both become members of the company’s Group Management as of October 1, as we take the global approach to Supply Chain and Product Development in the group to the next stage.

In connection with this change, Nis Gjendal, Vice President Global Purchasing, will report to Rickard Andersson and therefore not be part of the Group Management team.

© Modular Finance, source Nordic Press Releases


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Financials
Sales 2020 7 527 M 861 M 861 M
Net income 2020 1 062 M 121 M 121 M
Net Debt 2020 1 313 M 150 M 150 M
P/E ratio 2020 30,4x
Yield 2020 3,42%
Capitalization 32 582 M 3 714 M 3 729 M
EV / Sales 2020 4,50x
EV / Sales 2021 4,34x
Nbr of Employees 2 400
Free-Float 100%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 310,00 SEK
Last Close Price 311,60 SEK
Spread / Highest target 10,7%
Spread / Average Target -0,51%
Spread / Lowest Target -13,4%
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Managers
NameTitle
Jan Magnus Welander President & Chief Executive Officer
Bengt Baron Chairman
Jonas Lindqvist Chief Financial Officer
Hans Gunnar Eckerström Non-Independent Director
Heléne Mellquist Non-Independent Director
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