Ratos appoints Byggmax's Agervald as new CEO

Agervald is currently president and CEO of listed discount DIY retailer Byggmax Group, a position he has held since 2008. He will serve a six-month notice period at the company before joining Ratos in January 2017 at the earliest.

Prior to that, Agervald held roles including consultant at McKinsey & Company, investment manager at Nordic private equity firm IDI, and founder of mobile internet company Icomera.

The appointment follows the departure of Ratos CEO Susanna Campbell on 1 July, following a decision by the company's board of directors to replace her after three years at the helm. Ratos chair Jonas Wiström said in a statement at the time that Ratos had been underperforming for some time and hoped a chief executive with more operational experience would help turn the GP around.

Campbell was temporarily replaced by current investment director Lars Johansson, who assumed the role of acting CEO while the search for a successor got under way.

At the end of June, deputy CEO Henrik Blomé resigned from the firm with effect from 2017. Blomé will leave both his position as investment director and deputy CEO after 15 years with the company.

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