Kinnevik's Stenbeck to chair Zalando board

Zalando is owned by investment firm Kinnevik, and Stenbeck will replace Mia Brunell Livfors, the current chairman of the retail business, who announced her decision to step down as CEO of Kinnevik after eight years with the firm.

Stenbeck is expected to be approved as Zalando's new chairman during a meeting next week, according to the FT.

Analysts increased their valuation estimates of Zalando last year, which made Kinnevik's share price jump by 120%. However, several observers consider Zalando to be overvalued and the last few days have seen Kinnevik's share price fall following reports from local financial newspaper Dagens Industri that Zalando's site traffic growth has slowed down.

Kinnevik could not be reached for comment.

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