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In a statement yesterday (31 May), the Sweden-headquartered company said its board of directors had terminated those roles held by Hansen, who will stay on at the business through a succession process to appoint a new CEO and MD. The search is already underway, Scandi Standard said.

“We have concluded that the time is right for a change in order to bring new energy and perspective into the further development of Scandi Standard,” the statement from the publicly-listed company read, quoting chairman Johan Bygge.

He continued: “I am confident in the organisation’s ability to take the company to the next phase and to continue strengthening our market-leading position in the Nordics and in Ireland. Leif leaves a company which is robust and with potential for continued growth and a solid basis for long-term profitability.

“I would like to thank Leif Bergvall Hansen for his important contribution to Scandi Standard over the last eight years.”

In 2019, Scandi Standard also replaced its chief financial officer Anders Hägg, selecting an internal replacement in the form of Julia Lagerqvist, who had been CFO of the company’s operations in Sweden.

Hägg had chosen to pursue an opportunity outside of the group, according to a statement from the Stockholm-listed firm at the time.

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By GlobalData

In 2020, Scandi Standard generated sales of SEK9.94bn (US$1.2bn), against SEK9.89bn a year earlier. The company’s EBIT fell 17% to SEK351m, with its income down 12% at SEK208m.

Earlier this month, Scandi Standard booked first-quarter sales of SEK2.47bn, which compared to SEK2.48bn in the opening three months of 2020. EBIT was up 17% at SEK88m. Income rose 54% to SEK54m.