Malmö, February 8, 2010 - Magnus Welander has been appointed new President and
CEO of Thule, the world leader within Sports and Utility Transportation. Since
2006 he has successfully led the company's largest business and improved
profitability and market position. The company's current CEO, Anders Pettersson,
resigns after eight years in office as CEO but remain as a member of the Board.
"Results-wise 2009 was an exceptionally good year for Thule, despite the
economic crisis and tough economic climate. Anders has done a fantastic job with
Thule, and it reassures us to use his skills and energy for the Board in the
future. Magnus Welander's operational excellence will be a great asset to Thule
to increase growth and profitability further," said Chairman Roger Holtback.
"Thule is a great company with fun products, a very strong brand and a strong
global position. But the company still has big improvement potentials,
particularly in how we work with our sales channels in order to reach our
consumers. The combination makes it an exciting challenge," said Magnus
Welander.
Magnus Welander is currently President of the company's largest unit, Vehicle
Accessories Europe/Asia, with a turnover of over 2 billion SEK. The business
area has under his leadership undergone a major transformation and significantly
improved profitability through a sharpened product portfolio, increased delivery
precision and a new sales and marketing strategy. He will now use this
experience throughout the group.
"It will be a demanding job but also a very fun task to create an even better
Thule. Our overall strategy remains the same and we have every chance to grow in
the coming years by positioning ourselves more within our core business -
lifestyle products - making it easy for consumers to take everything they need
to enjoy their journey with them," said Magnus Welander.
Anders Pettersson has been in Thule for eight years and has recently, together
with the Board prepared Magnus to take over the role as CEO.
"I have for some time now made it clear that I want new challenges. The Board
and I fully agree that Magnus during the last three years has demonstrated in a
brilliant way that he is the right man for the job," said Anders Pettersson.
Magnus Welander enters his new role April 1, 2010
For more information please contact:
Magnus Welander, appointed President and CEO of Thule; Cell: +46(0)703 - 325 504
Roger Holtback, Chairman of the Board, Thule; Cell: +46(0)705 - 486 818
Anders Pettersson, resigning President and CEO of Thule; Cell: +46(0)703 -
414 150
Leif Andersson, Grayling AB; Cell: +46(0)733 - 656 634
About Thule
The Thule Group is the world leader within Sports and Utility Transportation.
The company offers transportation solutions for active families and outdoor
enthusiasts. The product portfolio includes roof racks, roof rails, bike
carriers, roof boxes, snow chains, towbars, trailers and RV accessories and soft
goods. The number of employees is around 3 000.
Thule is by majority owned by Nordic Capital Fund VI with seven Nordic banks and
60 leading executives as minority owners. The head office is found in Malmö,
Sweden. Read more at www.thule.com .
[HUG#1381593]
Press release (PDF): http://hugin.info/134794/R/1381593/340810.pdf
