Nobia CEO Kristoffer Ljungfelt is stepping down, just months after the company sold retail giant Magnet and pulled out of the UK market.
Ljungfelt is said to be stepping down “mutual agreement” with the company’s board of directors. He will be succeeded by current executive vice president for Nobia’s HTH brand, Jesper Gylling Olsen, who will step into the role from today.
Olsen has been with the business since 2019, and has been the company’s head of international brands, VP director and sales director. Prior to his time at Nobia, Olsen spent more than 20 years of experience in companies such as JKE Design and Multiform.
Under Ljungfelt’s leadership, Nobia made the decision to pull out of the UK market in January of this year, selling all its operations – including retail chain Magnet – to UK-based private equity firm Alteri Partners. According to Ljungfelt, this was a strategic move to “increase the focus on [Nobia’s] core Nordic markets”.
“We are happy that Jesper Gylling Olsen has accepted the role of President and CEO of Nobia,” said Jimmy Renström, Chairman of the Board of Nobia. “Jesper brings impressive experience from the kitchen industry and has, within Nobia, successfully strengthened one of the Group’s most significant businesses, delivering strong financial performance and high operational quality.
“Jesper will play a central role in the continued work to strengthen Nobia’s Nordic operations and realise the Company’s priorities going forward. We also wish to thank Kristoffer for leading Nobia through a challenging period during which we first divested the UK business, and subsequently completed a new rights issue. Through Kristoffer’s efforts, we now have a focused Nordic Nobia ready for its next phase.”
Nobia’s new president and CEO, Jesper Gylling Olsen, said: “I am proud and pleased that the Board has given me the opportunity to lead Nobia. Today, we have a clearer position in the Nordic kitchen market, with well-established brands and leading market positions. I have had the privilege of working with one of Nobia’s strong brands and look forward with confidence and great humility to driving the entire Group’s continued focus on profitable growth.”