- Prachi Singh |
Kinnevik AB has announced that Cristina Stenbeck, Erik Mitteregger and Mario Queiroz have decided not to stand for re-election to Kinnevik's board of directors at the 2019 annual general meeting, and that the nomination committee will propose Susanna Campbell and Brian McBride as new board members.
Stenbeck, the company said, was elected to the board of Kinnevik in 2003 as deputy chairman and over the last 16 years, she has led the transformation of Kinnevik from a mobile, media and packaging investment holding company into a leading digital growth investor. The company added that she will continue to support the business and influence material strategic matters in her role as an active owner and will also continue to lead the nomination committee work together with her partners.
"On behalf of all shareholders, this is a moment to reflect on the extraordinary commitment, energy and leadership that Cristina has provided over the last 16 years. We are confident that Cristina's thoughts and ambitions and her backing as principal shareholder will continue to be deeply beneficial to Kinnevik, to its now established management team, and to our work on the nomination committee," said James Anderson, Member of the nomination committee in a statement.
Susanna Campbell and Brian McBride nominated to Kinnevik board
Campbell, the company further said, currently serves as Chairman of Röhnisch Sportswear, Ljung & Sjöberg, and Babyshop Group. She is currently a board member of Telia Company, Indutrade, Northvolt and Nalka Invest, as well as a member of Norrsken's investment committee. Between 2012-2016, she was the chief executive officer of Swedish investment firm Ratos, having joined the company in 2003 from McKinsey & Co.
McBride is the former chairman of Asos, the global online fashion and beauty retailer. He is currently a non-executive director of Wiggle, a private-equity owned online cycling and apparel business, and of AO World, an online retailer specializing in household appliances. He also sits on the UK government's Government Digital Service advisory board, supporting the delivery of digital quality public services, is a senior adviser at Lazard, and a member of the advisory board of Scottish Equity Partners. Prior to assuming chairmanship of Asos, McBride was the managing director of Amazon UK, and prior to that the managing director of T-Mobile UK.
Commenting on these two nominations, Cristina Stenbeck, Chairman of the Kennevik’s nomination committee, said: "The nomination committee is pleased to be able to propose the elections of Susanna Campbell and Brian McBride. Susanna brings experience from different stages of private investing in sectors like ecommerce, healthcare and TMT and has also agreed to serve as Chairman of the board's remuneration committee, and will join its audit committee. In Brian McBride, Kinnevik will have a director with an exceptional operational background from ecommerce and TMT, drawing on his experience at companies such as Asos, Amazon and T-Mobile."