Oniva profit warning and replace the board and chief executive – Realtid.se

Oniva profit warning and replace the board and chief executive – Realtid.se

Oniva Online Group convenes an extraordinary general meeting and to go through the profit warning today announced partly to appoint new board members and a new chairman.

Already this summer avviserade Oniva Online Group that substantial changes would be made in the company after the insider scandal that rocked the company . The then CEO and CFO poked from the company. Torbjörn Wik who was business manager for online marketing stepped in as acting president. Then Jacob was Söderbaum incoming president of the company. Thomas Broberger is Acting Chief Financial Officer of the Company.

Now, the Board has appointed James Söderbaum new CEO. Jacob Söderbaum comes from WyWallet where he is currently CEO.

He takes up his post on 23 March.

The committee has also proposed two new directors, Lars Wahlstrom and Britta Dalunde when board members Peter Kopelman, Manfred Aronsson and Åke Eriksson declined re-election.

Now that Peter Kopelman choose to leave Board Meeting will also elect a new chairman. Nomination Committee proposes that Lars Wahlstrom.

Lars Wahlstrom has an MBA and working as an advisor and interim manager for technology companies such as Deutsche Telekom and CEO of Affecto. Males also including a director of Aditro Group AB, Datscha AB and industrial advisor to EQT.

During the EGM, the company will also go through the lowered full-year forecast for operating profit and net sales in 2014.

The company writes the full-year forecast for sales adjusted from 260 million to approximately 256 million.

Oniva Online group has also gone through the old debts and concluded that these will result in non-recurring impairment losses and provisions in connection with the annual accounts totaling approximately 30 million.

This means that the forecast for operating profit (EBITDA) after non-recurring write-downs of old accounts receivable and allowance for doubtful accounts is lowered to -24 million compared to the earlier forecast of operating profit (EBITDA) of about 10 million.

The company reports that of the 30 million crowns in the planned impairment losses and provisions relate to approximately 13 million old accounts receivable and about 17 million in bad debts, which among other things incurred in connection with acquisitions.

“Online Group will continue its efforts to collect these debts,” the company said.