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Joachim Hallengren, Chairman and CEO of Bonava, will step down as Chairman of Bonava. “The right time for a change in leadership,” says the President of the Council. He also tells FV that Bonava will now focus on increasing profitability.
Joachim Hallengren has been CEO of the housing development company since he parted ways with NCC five years ago.
Hallengren will remain in his role for a transitional period, however, until a successor can take over. The job of hiring a new CEO begins immediately.
– Joachim has done an extraordinary job of listing Bonava and then rapidly establishing the brand in the company’s various markets, with particular success in Germany. The company now faces a host of new challenges, so the board has assessed that the time is right to implement a change in leadership, says Mikael Norman, chairman of the Bonava board.
Fastighetsvärlden: Is the change at the initiative of the board or Hallengren?
– The board has made the decision. I do not want to comment on how the process was or what the different parties have said.
What requirements do you place on a new CEO?
– A senior person, a strong leader and a person who understands project development. Do we also want to focus on increasing profitability?
Is profitability one of the reasons you are looking for a new CEO?
– It’s in the photo. The company has been underperforming for some time.
Joachim Hallengren commented in a press release.
– I am very happy to have had the opportunity to guide Bonava in the process of becoming a publicly traded company and then establishing it as a major player in our industry. The company is now well established in various markets and has a solid foundation for the future. After eight fantastic years, it’s time to move on to new challenges. I am passionate about Bonava and it motivates me to continue in my position during a transitional period.
Bonava was a business area within NCC until 2016, when it was listed on the stock exchange through a dividend to NCC shareholders. Bonava’s share price initially developed well, but has lost last year relative to comparable companies.
– I would like to highlight in particular the important work that, under Joachim’s leadership, has been carried out in order to get to know our clients effectively, through, among other things, concept development, marketing, sales and digitization. The Board has assessed that it is positive for the company that Joachim continues in his position during a transition period. This ensures continuity and a continuous high pace on a number of projects that are important to the development of the company, says Mikael Norman.
When can there be a successor?
– It is more important that it is correct than that it goes fast.
The real estate world has sought out Joachim Hallengren.
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