Holmen's CEO Magnus Hall to Step Down, Henrik Sjölund Named Successor

Magnus Hall

Feb. 13, 2014 - Holmen's President and CEO, Magnus Hall, has informed the Board of his wish to resign. The Board has appointed Henrik Sjölund, currently CEO of the business area Holmen Paper, to be his successor.

Hall will remain CEO until the Annual General Meeting on April 8.

Sjölund will begin as CEO on April 9.

"After almost 29 years in the Holmen Group, and 10 years as CEO, I have decided to explore new opportunities," Hall explained. "It has been an exciting time, dealing with many challenges and handling major changes together with all good colleagues. The forest industry, and especially Holmen, is close to my heart but I feel the time is right to hand over to a new leadership. Henrik Sjölund is an excellent leader who, together with a strong team across the organization, can continue to develop Holmen."

Fredrik Lundberg, Chairman of the Board, said, "During ten years Magnus Hall has done a truly solid work as CEO. In recent years, he has successfully implemented major changes in the business to meet changed market conditions. Now, when he leaves the company, I wish him all the best with his future career. I am convinced that Henrik Sjölund will be a capable CEO of Holmen and look forward to a more close cooperation."

Henrik Sjölund

Sjölund stated, "As CEO of Holmen Paper I have concentrated on restructuring the operations and moving the business toward specialty paper. I look forward to the challenges in other business areas, and together with all my colleagues within Holmen, lead the development of the Group. Major focus will be taking advantage of the opportunities offered by the significant investments in paperboard and sawmill operations made in recent years."

The Board has also appointed Anders Jernhall, CFO, to Executive Vice President in Holmen from February 12 2014.

SOURCE: Holmen