Nobia

"We have made significant progress on our strategic plan, and we still have some way to go on the transformation journey before it is complete and while the timing with Jon leaving is not ideal, I respect his decision. Whilst the current market is challenging there is a strong plan in place. The operational phase of the new factory in Jönköping has started, the repositioning of the UK business is well underway and considerable work is being undertaken to strengthen the balance sheet" says Jan Svensson, Chairman of the Board. "I have appreciated working alongside Jon and extend my thanks for his leadership and contributions in running the business as well as driving the transformation while navigating the business through various challenges in a turbulent market".

"The past 4.5 years with Nobia have been both fulfilling, fun and challenging. Our strategic initiatives, including the harmonisation of Nordic operations, restructuring of the UK business, and the investment in a state-of-the-art automated factory in Jönköping will mark significant milestones for the company and I am proud of our collective achievements. I will continue to dedicate my full focus to Nobia in the coming months and look forward to following Nobia's continued journey", says Jon Sintorn.

The Board will immediately start the process to search for a new CEO.