Kinnevik’s ambition to reduce the number of holdings, from around 35 to 15 to 20 pieces in a couple of years, is fixed. It said the chairman of the board Tom Boardman during the onsdagsförmiddagens conference call, after that in the morning he announced that ceo Lorenzo Grabau has been made redundant with immediate effect.
“Yes, we believe that it is better to focus on our core business,” he said and reiterated the former ceo’s view that Kinnevik has done little for the many small investments, but flagged also for continued investment in the future.
These new, he said, is continued to be possible thanks to the dividends from their holdings, divestments, and perhaps, to some extent, the indebtedness, albeit in this case a low such according to the previous philosophy.
today, Kinnevik, approximately 35 holdings, according to what the acting ceo, chief financial officer Joakim Andersson, said at the conference. The chairman said that the company is working on the sale of five-six of them. Some holdings will be evaluated as “probably not long-term”, but where Kinnevik is believed to be able to add value during the next two-three years and then either sell or keep them, ” he explained further.
Directly: is it possible to get a list of the 35 holdings together with some basic numbers?
“Yes, in the annual report is clearly stated, the company for the company, a list of our valuation of all listed and unlisted holdings. We are very, very transparent – as it should be. The values may not always be made based on the latest transaction, sometimes there are reasons for higher or lower values, but the list is there for all to see.”
a list of sales and earnings in its holdings, an investment company, such as Investor, Latour and Ratos has for its unlisted companies, however, are not in either the annual report or quarterly reports. Many of the companies are lumped in addition together under “other” in the lists of valuation of the unlisted holdings.
Tom Boardman said, speaking of the need for practical experience and the like of Kinnevik’s ceo, to the board of directors has discussed to appoint an operational manager in place to terminate the ceo, but:
“Culture, values, and behavior in an organization reflects, ultimately, the same thing with the management, which starts with the ceo. The board came to the conclusion that this is where we now need a change.”
Some long or könspreferenser on the new ceo, the board has not, according to Tom Boardman, even if the culture is to remain Swedish in Kinnevik. During Lorenzo Grabaus ceo-(ppp) established the london office seem, however, to be left, as it is considered to be easier to attract staff there than to Stockholm.
A analytikerfråga on Kinnevik’s principal shareholder Cristina Stenbeck are up to date as new (old) president was left unanswered.
No comments:
Post a Comment