President and CEO Magnus Groth will leave Essity during 2025

Rhea-AI Summary

Essity (ETTYF) announced that President and CEO Magnus Groth will step down from his position during 2025 after serving 14 years with the Group, including almost ten years as CEO. The Board has initiated an immediate recruitment process for his successor.

Under Groth's leadership since 2015, first at SCA and then at Essity, the company has achieved significant growth in profitability, innovation, and global expansion. Chairman Jan Gurander acknowledged Groth's important role in establishing Essity's platform for continued profitable growth.

Groth, who has a one-year notice period, will continue in his role until a successor is appointed. During his tenure, Essity has developed into a world-leading hygiene and health company with strong brands, market positions, and recognized sustainability work.

Positive

• Company has achieved significant growth in profitability under current leadership
• Strong market position and brand recognition established
• Planned transition with 1-year notice period ensures operational continuity

Negative

• Leadership uncertainty during transition period
• Potential strategic direction changes under new management

STOCKHOLM, Jan. 22, 2025 /PRNewswire/ -- After 14 years with the Group, and almost ten years as president and CEO, Magnus Groth has today informed the Board of Directors of Essity Aktiebolag (publ) that he has decided to step down as CEO and from the Board during 2025.  A recruitment process for a successor will be initiated immediately. 

"As President and CEO of first SCA and then Essity, Magnus has successfully listed and led Essity on a significant journey of change over the past 10 years to increase profitability, growth and innovation. Through his leadership and commitment, Magnus has played an important role in creating the platform that Essity has for continued global profitable expansion", said Jan Gurander, Chairman of the Board. "The Board of Directors extends its gratitude for Magnus valuable contributions as President and CEO."

"It has been very stimulating to work as President and CEO since 2015, first for SCA and then for Essity, and I especially appreciate the collaboration with colleagues all over the world," says Magnus Groth. "Essity is today a world-leading hygiene and health company with strong brands and market positions, great employees and recognized sustainability work, reflected in profitable growth. After 14 years with the company and ten years as CEO, I consider this a suitable time to embark on a new chapter for me and for Essity." 

Magnus Groth has a notice period of one year. He will continue as President and CEO of Essity until a successor is appointed.

NB: This information is such that Essity Aktiebolag (publ) is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 19:15 CET on January 22, 2025.
Karl Stoltz, Media Relations Director, +46 709 426 338, karl.stoltz@essity.com 

CONTACT: 
For further information, please contact:
Per Lorentz, Vice President Corporate Communications, +46 73 313 30 55, per.lorentz@essity.com
Sandra Åberg, Vice President Investor Relations, +46 70 564 96 89, sandra.aberg@essity.com

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President and CEO Magnus Groth will leave Essity during 2025

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SOURCE Essity

FAQ

When will Magnus Groth leave his position as CEO of Essity (ETTYF)?

Magnus Groth will step down as CEO of Essity during 2025, with the exact date depending on when a successor is appointed.

How long has Magnus Groth served as CEO of ETTYF?

Magnus Groth has served as CEO for almost ten years, leading the company since 2015, first at SCA and then at Essity.

What is the notice period for Magnus Groth's departure from ETTYF?

Magnus Groth has a one-year notice period and will continue as President and CEO until a successor is appointed.

What major achievements did ETTYF accomplish under Magnus Groth's leadership?

Under Groth's leadership, Essity achieved significant growth in profitability, innovation, and global expansion, becoming a world-leading hygiene and health company with strong brands and market positions.