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Swedish Retailer Axfood's CFO To Depart Alongside Outgoing CEO

Published on Mar 7 2017 12:55 PM in Retail tagged: Trending Posts / Sweden / Management / Axfood

Swedish Retailer Axfood's CFO To Depart Alongside Outgoing CEO

The chief financial officer of Swedish retailer Axfood has announced that she will leave her post at the same time as outgoing CEO Anders Strålman, during the annual general meeting on 15 March.

The company said that the search to replace Karin Hygrell-Jonsson as CFO would begin immediately, and that long-time colleague Anders Lexmon will take over in the interim.

Hygell-Jonsson said she felt it was time to switch to more advisory roles.

“I currently serve on a few boards and hope to gain more such opportunities. My years at Axfood and in the Axel Johnson Group have been enormously rewarding and fulfilling, and I have great confidence that the team that I have helped build up will take Axfood to the new heights.”

She started as CFO in 2008, and has worked in the Axel Johnson Group for more than a quarter of a century.

'Undisputed Number Two Player'

During her time there, Axfood has become the 'undisputed number two player' in the Swedish grocery retail market, with sales growing from SEK 29 billion to SEK 43 billion, according to the company.

“Karin has been at my side during all of my years as CEO of Axfood, and it is in many respects owing to Karin’s fortitude and competence that we have succeeded in building a group with extreme cost control and good order,” commented Strålman.

“This is the entire difference between profit and loss in our business. As Karin has now made this decision I hope that she will be able to share her competence in future board assignments for many years to come.”

She will continue working until the summer in order to conclude internal assignments and help ease the transition.

Axfood has said that 2016 was its ‘best year’ to date, as the retailer posted a consolidated net sales increase of 5.1% to SEK 43,355 million ( about €4.5 billion).

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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