Stockholm, Sweden - July 20, 2022 - Sinch AB (publ), a global leader in cloud communications and mobile customer engagement, today announced that Sinch CEO Oscar Werner steps down from his position, effective as of today's date. The board of directors has appointed Johan Hedberg as interim CEO and will now initiate the search for a new CEO. Johan Hedberg is one of the company's founders and was CEO from 2010 to 2018.
Over the past few years, Sinch has combined organic growth and strategic acquisitions to establish a leading position in the global market for cloud communications and customer engagement. The company has broadened its product offering and increased revenues by 7x since 2018.
In light of a changing market environment with weaker macroeconomic sentiment, and with an increased focus on integration, consolidation and cost efficiency, the board has agreed with Oscar Werner that the company, at this stage, needs a new CEO. As a result, the board has decided to initiate the recruitment of a new CEO.
Johan Hedberg assumes the role of interim CEO, effective immediately, and will work closely with the board and management to safeguard financial performance and improve profitability during the recruitment of a new CEO. Following the implementation of Sinch's new operating model, which was announced on February 3, 2022, Sinch is organized into five business units with full profit and loss responsibility.
"I want to thank Oscar for four years of strong commitment and hard work during which Sinch has transformed from a regional contender to a global leader in its field. With Johan Hedberg as interim CEO, I'm confident that we can deliver on our strategic priorities, improve cost control and secure continued, profitable growth", comments Erik Fröberg, chairman of the board of directors.
Oscar Werner will serve the board and CEO as Strategic Advisor during the notice period.
For further information, please contact
Ola Elmeland
Investor Relations Director
Mobile: +46 721 43 34 59
E-mail: investors@sinch.com
Thomas Heath
Chief Strategy Officer & Head of Investor Relations
Mobile: +46 722 45 50 55
E-mail: investors@sinch.com
About Sinch
Sinch's leading cloud communications platform lets businesses reach everyone on the planet, in seconds or less, through mobile messaging, email, voice and video. More than 150,000 businesses, including many of the world's largest companies and mobile operators, use Sinch's advanced technology platform to engage with their customers. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 60 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.
Sinch AB (publ) is required to publish this information pursuant to the EU Market Abuse Regulation. The information was released for publication by the contact person above on July 20, 2022, at 19:30 CEST.
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