EQT Appoints Strong Industrial Board
Following the announcement earlier about EQT’s new corporate structure, the composition of the Board of Directors for EQT Holdings AB is now ready.
The new Board of Directors will consist of five members: Dr Josef Ackermann, Finn Rausing, Marcus Wallenberg, Leif Östling and Conni Jonsson (Chairman). The members of the new Board represent strong industrial competence from a variety of businesses and geographies. The Board will continue to develop EQT further into a more sustainable investor and owner of companies.
“It is really exciting that EQT can attract individuals with such an extensive experience and broad knowledge. Given the challenges the whole industry is facing, the Board will be very important for EQT. It will focus on securing EQT’s sustainable growth strategy and in becoming more transparent, thus creating an increased trust among the various stakeholders EQT has,” says Conni Jonsson, CEO and Chairman of the Board of EQT Holdings AB.
The new corporate structure, with Sweden based EQT Holdings AB as holding company, is transparent and enables EQT to accumulate a long-term financial reserve for stable organic expansion and a buffer across business cycles. EQT Holdings AB will be 81% owned by partners of the investment advisor EQT Partners. The remaining 19% will be owned by Investor AB.
About the Board Members
Dr Josef Ackermann is Chairman of the Board of Zurich Insurance Group. He is also Vice-chairman of the Board of Directors of Belenos Clean Power and the World Economic Forum Foundation Board. In addition, he is the Second Deputy Chairman of the Supervisory Board of Siemens, Director of Royal Dutch Shell, Investor AB, International Advisory Board of the National Bank of Kuwait, Akbank and The China Banking Regulatory Commission. Previously, Josef Ackermann was CEO of Deutsche Bank.
Finn Rausing is member of the Tetra Laval Group Board and Chairman of the Audit Committee of the Tetra Laval Group. He is also Board member of Alfa Laval AB, DeLaval Holding AB, Swede Ship Marine AB and Nordkap Holding AG.
Marcus Wallenberg is Chairman of the SEB, Saab, Electrolux and LKAB boards. He is also Director of AstraZeneca, Stora Enso, Investor AB, Temasek Holding and the Knut and Alice Wallenberg Foundation. Previously, Marcus Wallenberg was CEO of Investor AB and Chairman of the International Chamber of Commerce.
Leif Östling is Chairman of SKF. He is also member of the Board of Management of Volkswagen AG and Vice-chairman of the Board of Scania. Leif Östling was previously CEO of Scania and Vice-chairman of the Board ISS A/S, an EQT portfolio company.
Conni Jonsson (Chairman) is CEO and Managing Partner of EQT. He was part of the team that founded EQT Partners AB in 1994 and has been Managing Partner since start.
Contacts: Johan Hähnel, Communications & PR, +46 8 506 55 334
Facts about EQT
EQT is the leading private equity group in Northern Europe with approximately EUR 20 billion in raised capital, portfolio companies with total sales of more than EUR 25 billion and over 550,000 employees. The funds’ investment philosophy is to help acquired companies grow and develop into great and sustainable companies, both under EQT’s ownership and with future owners. The result so far: the over 60 previously or currently owned portfolio companies have during EQT’s ownership seen an average annual increase in the number of employees by 11%, sales by 11% and earnings by 15%. Almost all of the return on investments is attributed to operational improvements such as increased sales and efficiency gains.
EQT supports a growth oriented business strategy, which has its roots in the Nordic culture, and a transparent governance model, combined with access to EQT’s unique international network of industrialists. By implementing clear strategies and having access to operational expertise and ownership skills, the portfolio companies develop and grow. The strategies and implementation of operational excellence are driven by the appointed CEO and management team, board members who are handpicked from EQT’s Industrial Network. Portfolio companies are monitored by more than 120 Investment Advisory Professionals from EQT Partners. EQT´s funds represent the investment of hundreds of investors from all parts of the world.
Funds launched since the beginning of 2012 are managed in the Netherlands, the UK and Luxembourg. EQT Holdings AB, based in Stockholm, Sweden is the parent company of these general partners/fund managers. This means that EQT applies a corporate structure with transparency for all stakeholders, unique in the private equity industry.
EQT’s mission since its first investment two decades ago remains the same – create value in medium-sized to large companies in Northern and Eastern Europe, Asia and the United States by investing, helping them to develop and transform into great, leading companies.