Burman-Olsson will join Coop Sverige in May

Burman-Olsson will join Coop Sverige in May

Swedish retailer Coop Sverige has appointed the CFO of rival ICA Gruppen, Sonat Burman-Olsson, as chief executive officer.

Burman-Olsson will take the helm at Coop "no later" than 21 May, but her departure from ICA will have immediate effect.

Anders Sundström, chairman of Coop parent group KF, said that Burman-Olsson's experience meant she is well-placed to lead the Coop's turnaround and improve profitability. The cooperative group has already made a number of strides to improve profitability - including establishing a new board and streamlining operations.

ICA said although Burman-Olsson would stand down immediately, she will be available to ICA during her six-month notice period. "An acting CFO will be appointed shortly," the group added.