NORWAY: Rieber & Son promotes Mohn to CEO
Frank Mohn will be introduced as CEO at today's presentation of Rieber & Søn's accounts
Norwegian food group Rieber & Søn has named supply chain director Frank Mohn as its new CEO.
Mohn replaces Patrik Andersson, who announced his decision to leave the role in November. He will take up the role with immediate effect
Rieber & Søn announced the resignation of Andersson last year, citing "family pressures" as his reason for stepping down. He joined the firm in August 2008.
Mohn will be introduced as CEO at today's (2 February) presentation of Rieber & Søn's accounts.
"The board is pleased to have found a good candidate with a thorough knowledge of the organisation, as well as an understanding of the group's potential and the challenges to be met," the company said.
The Rieber family, which owns around 88% of the group, also welcomed the appointment of Mohn, adding that they will enter into "immediate dialogue" with the board to finalise a review of the group's strategic options.
"This review will also conclude on appropriate long-term ownership structure, including whether the group should be privately held or publicly listed on the Oslo Stock Exchange," the family said. It added that "several potential partners" have approached them with an interest in becoming a partner in the company.
"We have great faith in the company and the market opportunities ahead," the family said. "Together with the new owners, that may also bring new competence, we want to develop the business further. The family will also in the future be an owner of the company. In this regard, we have engaged ABG Sundal Collier ASA as our advisor."
Norwegian food manufacturer Rieber & Søn today (12 July) reported lower half-year sales and profits, blaming low consumer confidence in Europe....
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone eyes efficiency, agility with new structure
- General Mills issues profit warning