Vitrolife´s CFO leaves

Rhea-AI Summary

Vitrolife's CFO, Mikael Engblom, has resigned, effective immediately. Engblom, who has served in this role since 2011, will remain until a replacement is found. During his tenure, he significantly contributed to the company's transformation into a market leader in reproductive health, as noted by CEO Thomas Axelsson. Engblom expressed a desire for new challenges after ten years with the company. A recruitment process for a new CFO will commence shortly.

Positive

• Mikael Engblom played a key role in Vitrolife's transformation into a profitable market leader.
• The company is positioned for a new growth journey following Engblom's departure.

Negative

• Potential uncertainty in leadership may temporarily affect investor confidence.
• -

GOTHENBURG, Sweden, Sept. 2, 2021 /PRNewswire/ -- Vitrolife's Chief Financial Officer (CFO) Mikael Engblom has today resigned from his position. A process to recruit a replacement will be initiated and Mikael Engblom will continue in his current role until a new CFO takes office. Mikael Engblom has been CFO since 2011 and before that worked as a controller at the company.

"During his time as CFO, Mikael has played a key role in transforming the company from a small niche company to a very profitable market-leading player in reproductive health with an international ownership base through internal efficiency work, strategy plans and acquisitions," says Thomas Axelsson, CEO. "I would like to thank Mikael for good cooperation and his valuable contribution to the company's exceptional development over the past ten years and wish him best of luck for the future," says Thomas Axelsson, CEO.

"Vitrolife is facing a new exciting growth journey, but after ten developing years as CFO at Vitrolife, I have decided that it is time for a new challenge," says Mikael Engblom.

Gothenburg, September 2, 2021
VITROLIFE AB (publ)
Thomas Axelsson, CEO

CONTACT:

Queries should be addressed to:

Thomas Axelsson, CEO, tel 46 31 721 80 01

Mikael Engblom, CFO, tel 46 31 721 80 14

The information was submitted for publication, through the agency of the contact person set out above, at 3.00 pm CET on September 2, 2021.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vitrolife-ab--publ-/r/vitrolife-s-cfo-leaves,c3408643

The following files are available for download:

https://mb.cision.com/Main/1031/3408643/1463335.pdf

Vitrolife´s CFO leaves

View original content:https://www.prnewswire.com/news-releases/vitrolifes-cfo-leaves-301368469.html

SOURCE Vitrolife AB (publ)

FAQ

What date did Vitrolife's CFO resign?

Mikael Engblom resigned from his position on September 2, 2021.

Who was the CFO of Vitrolife before the resignation?

Mikael Engblom served as the CFO of Vitrolife before his resignation.

What impact might the CFO's resignation have on Vitrolife?

The resignation may lead to temporary uncertainty in leadership, potentially affecting investor confidence.

How long did Mikael Engblom serve as CFO at Vitrolife?

Mikael Engblom served as CFO for ten years, from 2011 until his resignation in 2021.

What has Mikael Engblom achieved during his tenure as CFO at Vitrolife?

Engblom was instrumental in transforming Vitrolife into a profitable market leader in reproductive health.