Knut Pedersen, president and CEO of Catella, the SEK185bn (€17.4bn) Swedish property and investment fund manager, is set to leave his position as CEO within the next six months, or at the latest at the time of the annual general meeting.
He has been CEO since 1 January 2014.
Although he will leave that position, the company has noted that it expects him to remain in situ via a board position.
Johan Claesson, chairman and main owner of Catella, said: "During his six years as CEO, Knut Pedersen has successfully developed Catella into a pan-European finance group in real estate and alternative investments. It is my belief that Knut still has a lot to add to Catella, which is why my wish is that Knut will be elected to the Catella AB Board of Directors. Recruitment of a new CEO begins immediately with the ambition of finding a CEO who can lead the company's continued growth journey."
The company operates in 15 countries, with a focus on property investments and fund management. It is listed on Nasdaq Stockholm in the Mid Cap segment.
As of 14 November, the company reported total income in the January-September 2019 period of SEK1.659bn. Net sales were SEK1.631bn. Operating profit was reported as SEK300m, although impairment of its loan portfolio meant that profit before tax was reported as SEK170m.
On a 12 month basis, total income was reported as SEK2.357bn, with operating profit of SEk361m.