Studsvik AB: Studsvik broadens its strategy, Karl Thedéen appointed new President and CEO

Under Camilla Hoflund's leadership, Studsvik has focused on creating long-term profitability in its existing operations. Studsvik is now well positioned for a more offensive strategy with the aim of further accelerating its growth and thereby creating more long-term value for its shareholders.

"I want to thank Camilla for her contributions and wish her all the best for the future," says Jan Bardell, Chairman of the Board of Studsvik.

As a result of the improved conditions in the nuclear power industry and Studsvik's strong market position, Studsvik's Board of Directors has decided to broaden its strategy and accelerate the Group's growth. This new direction means that Studsvik will begin a structured process for acquisitions, primarily targeting smaller and developable businesses in niches where Studsvik's deep technical expertise and extensive international network can create added value for the company. In addition, Studsvik will initiate and participate in joint ventures in connection with larger investments to further leverage the Group's strengths. Furthermore, the Board of Directors wants a renewed leadership and new perspectives added to top management.

It is with this background that Karl Thedéen has been recruited as the new President and CEO. Karl Thedéen has leadership experience from several listed and global companies in businesses characterized by complex technical solutions, most recently he was CEO of Outpost24.

"Karl has extensive experience in leading companies through significant growth journeys, experience and leadership qualities that are required for the continued development of, and value creation in, Studsvik. The focus will now be on taking new steps in all the group's markets and focusing on both profitable growth through value-creating acquisitions and capitalizing on emerging business opportunities," emphasizes Jan Bardell.

"I look forward to developing Studsvik's existing operations with increasing profitability, both in Sweden and internationally, and thereby ensuring more and stable value growth for the company's owners. Studsvik is a global group with unique IP and strong market positions. With new market opportunities in nuclear power both in Sweden as well as internationally, there are good opportunities for Studsvik to be offensive and focus on new businesses. Following the groups recent acquisition of the profitable Extrem Borr och Sågteknik AB, I am confident that a well-structured acquisition strategy will enable to further expand the Group and thereby enhance profitability," says appointed President and CEO Karl Thedéen.

To ensure a smooth transfer, Chairman of the Board Jan Bardell will assume an operational role as Working Chairman during a transitional period.

For further information, please contact:
Jan Bardell, Chairman of the Board, Studsvik +46 76 860 84 06
Karl Thedéen, appointed President and CEO, Studsvik, +46 70 65 66 508

Facts about Studsvik

Studsvik offers a range of advanced technical services to the global nuclear power industry. Studsvik's business focus areas are fuel and materials technology, reactor analysis software, decontamination and radiation protection as well as technical platforms for handling, conditioning and volume reduction of radioactive waste. The company has more than 75 years' experience of nuclear technology and radiological services. Studsvik has 530 employees in 7 countries and the company's shares are listed on Nasdaq Stockholm.

This information is information that Studsvik AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was released for public disclosure, through the agency of the contact person above, on October 16, 2024, at 06:15 pm (CEST).

www.studsvik.com