The Board of Directors of Humble Group AB ("Humble Group") has appointed Noel Abdayem as acting CEO with immediate effect after Simon Petrén, in consultation with the Board, decided to leave the Humble Group. The Board is simultaneously initiating the recruitment process for a new CEO.
"Under Simon Petrén's leadership, the Group has built a solid foundation for continued development through strong organic growth and acquisitions. The Board would like to express its sincere gratitude to Simon, whose leadership has been instrumental in building the company. As the company now enters a new phase with a focus on efficiency and profitability, we have jointly concluded that new leadership is in the best interests of the company. We have high expectations for the initiatives now being implemented, and Noel Abdayem, as founder of The Humble Co. and member of the board, has relevant experience of Humble Group and its operations," says Dajana Mirborn, Chair of the Board of Humble Group.
"I am incredibly proud of the amazing journey we have made with Humble Group since the inception a little over five years ago, when we took Pändy to the public market. As Group CEO, I have had the privilege of growing the group into a global player, and I am convinced that the initiatives that we have invested in will provide the business with a robust foundation for successful development in the coming years. I want to extend a big thank you to all the fantastic people who have been with us on this journey and look forward to following Humble's continued development," says Simon Petrén.
Simon Petrén will remain available to the company in an advisory role for a period of time. Noel Abdayem will take over as interim CEO with immediate effect and will resign from his position on the company's board of directors.
"I would like to start by thanking the board for their confidence in me to step in as interim CEO. With many years of experience at Humble Group, I know the potential that exists within the group. I look forward to working with all the entrepreneurs and colleagues in the group to take Humble to the next level," says Noel Abdayem, acting CEO.
Humble Group will publish its interim report for the third quarter as planned on October 24.
For further information, please contact:
Dajana Mirborn, Chairman of the Board of Directors
E-mail: Dajana.Mirborn@humblegroup.se
This information is such that Humble Group AB is required to publish in accordance with EU Market Abuse Regulation 596/2014. The information has been published by the above contact person, at the time specified by Humble Group AB's news distributor Cision at the time of publication of this press release.
About Humble
Humble Group is a corporate group specializing in driving value and accelerating growth in small and medium-sized companies within the fast-moving consumer goods (FMCG) sector. Through an entrepreneurial approach and active ownership, Humble Group focuses on transforming its businesses to align with the future needs of consumers. The company manages a portfolio of brands, a global distribution network, and production facilities where its subsidiaries operate autonomously within their respective business areas, while Humble Group provides strategic guidance and support. The group is headquartered in Stockholm. For more information visit www.humblegroup.com
Humble is listed on Nasdaq Stockholm Mid Cap, under the ticker HUMBLE.
