Johansson to Leave SCA, Groth Appointed New President, CEO

 

In connection with a board meeting this week, SCA, Sweden, announced that Jan Johansson will step down as president and CEO of SCA. The company’s board subsequently announced the appointment of Magnus Groth as president and CEO. Groth (photo) has worked at SCA since 2011, and his role as president of the Business Unit Consumer Goods Europe at SCA has given him deep knowledge of SCA, its customers, and consumers as well as their needs, the company notes.

 

Groth also has extensive experience among other things as CEO of the listed company Studsvik. He has taken an active part in developing SCA into a leading global hygiene and forest products company. 

 

The board said that Groth is the right person to continue to develop SCA in line with the strategy to focus on growth, innovation, and efficiency. A key factor of success in Groth’s leadership, it adds, has been to make continuous improvements for customers and consumers through innovation and cost efficiency.

 

"It is a great responsibility to lead SCA and I have proudly accepted. I am also humble to this task. Now we will go from today’s position as a leading global hygiene and forest products company to continuously develop SCA going forward," Groth said Johansson said that "the last months I have spent a large part of my time on the ongoing audits related to SCA. A preliminary investigation has also started, which means that the ability to focus on the business has been further reduced. The decision that the board and I have reached in the interest of SCA, our shareholders, employees, and my family is that I step down as president and CEO." 

 

In accordance with his employment contract, which stipulates that Johansson has a notice of two years (fixed salary, no bonus), Jan Johansson will be at the disposal of the board and Groth, the appointed president and CEO.

 

"SCA is a leading global hygiene and forest products company with strong brands, fantastic employees, recognized sustainability work, and SCA has great potential to continue to create shareholder value. As president and CEO, it has been very stimulating to lead SCA’s journey of change since 2007," Johansson concluded.

 

The SCA Board, in a joint announcement, said that it "regrets, but understands and respects that Jan Johansson cannot effectively lead SCA under the current conditions. The board would like to emphasize that there is no new information related to the ongoing audits. The board has continued great confidence in Jan Johansson."

 

"As president and CEO, Jan Johansson has, in a very competent and value creating way, led SCA during an important and successful journey of change for growth and innovation. Now we have a platform for global expansion. The Board would like to extend their warmest thanks for his valuable contributions as president and CEO," the board stated.