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Nexam Chemical strengthens the management team for intensified commercialization.

2014-11-07

Nexam Chemical’s Board has signed a contract with a new CEO for the company, starting 1stof January 2015. In addition the recruiting process for the newly created position of Chief Marketing Officer (CMO) is now in its final phase.

Nexam Chemical has successfully built a broad portfolio of patented technologies and products and established a number of collaborative projects with globally leading chemical companies. Nexam Chemical is now taking the next step in the company's development by strengthening the company's management team, partly in order to become a truly professional company when it comes to marketing and sales, as well as getting in experience regarding development and leadership of a business during its expansion phase. With an incoming CEO and a new CMO on the way in, the company is now moving into the next phase, where the focus is on commercialization and sales.

The incoming CEO has a degree in chemical engineering and has a long and broad experience from the international plastics and chemicals industry, with senior management positions, such as CEO. He comes from a listed company, where he was part of the Group Management. Because of the incoming CEO's ongoing commitments, Nexam Chemical has chosen to satisfy the current employer’s requests that we not yet communicate the name of the person in question. This will however be done as soon as possible.

Meanwhile the recruitment process of a new position as CMO is ongoing, which the incoming CEO together with the Chairman of the Board, now will finalize.

The organizational change is done in close consultation with Nexam Chemicals current CEO, Per Palmqvist Morin, and the company's other three founders, Daniel Röme, Jan-Erik Rosenberg and Richard Tooby. In connection with the above mentioned organizational strengthening, the four founders, who will continue to be active in the company, will enter into new roles where their focus going forward will be directed towards their respective specialist competences. In this way continuity and maintenance of existing know-how is ensured. The founders will continue to remain as major shareholders in the company and they are bound by a lock-up agreement.

“Nexam Chemicals business has until now primarily been focused on developing products and applications, based on the unique technology for cross-linkers that the company possesses. We are now in a phase where we have to become much more market-oriented and focus on revenues. The incoming CEO has a background and experience, which in combination with his documented and proven strong results focus and ability to build teams, will be a great asset to Nexam Chemical. I look forward to working with the new CEO in the coming years and move Nexam from an exciting development company into a fast-growing, profitable specialty chemicals business.”
Lennart Holm, Chairman of the Board

”It's been a great time during six intense, fun and experiencing years to be part of the journey we have made as a company. As the company now enters a new commercial phase, it is a good time to let a strengthened management team with the right skills and experience to commercialize its products. Nexam Chemicals technology and products have a bright future in the market. It is my firm belief that through this reinforcement will not only manage the underlying potential, but also maximize the potential to the benefit of both customers and shareholders. I look forward to supporting the new CEO in my new role as an advisor as well as a specialist within M&A and finance.”
Per Palmqvist Morin, CEO

Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
 

For more information, please contact:
Lennart Holm, Chairman of the Board: +46 (0)706 30 8562

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