STOCKHOLM, Feb. 9, 2021 /PRNewswire/ -- The board of
directors of OXE Marine AB (publ) (the "Company") has resolved to
appoint Magnus Grönborg as CEO and to reorganize its management
team by appointing the current CEO Myron
Mahendra as EVP Business Development, Sales and Marketing.
In addition, the chairman of the board Anders Berg will increase his operational focus
on the company by assuming a supportive operational role with the
management team. Magnus Grönborg will replace Myron Mahendra as CEO in a few months, with the
closer date yet to be agreed.
OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF) is moving
into the next phase of its development, with third party production
facilities in both Poland and the
US, the board of directors has resolved to reorganise the
management team to optimize the Company's ability to achieve its
financial and operational targets. The reorganisation includes
appointing board member and operations specialist Magnus Grönborg
as CEO and the current CEO Myron
Mahendra as EVP Business Development, Sales and Marketing.
This will significantly strengthen OXE Marine's operational
abilities, meanwhile adding even more focus on the commercial
development.
Ängelholm-based Magnus Grönborg is currently Senior Vice
President Operations at Höganäs AB and has been a board member in
the Company since 2019. Magnus Grönborg has more than 20 years'
experience of developing production and supply chains in global
organizations like Lindab, Swep and Isover and has a solid
executive background with notable positions as Group Operations
Director at Lindab AB and most recently Senior Vice President
Operations at Höganäs AB.
In connection with Magnus Grönborg starting as CEO, Myron Mahendra will commence a new position as
EVP Business Development, Sales and Marketing, allowing him to
focus exclusively on the continued global development of the
Company's business and utilizing his extensive international
network and deep knowledge of the marine industry to further evolve
the Company's offering.
"I'm very pleased to welcome Magnus Grönborg as our new CEO,
to lead the Company through the imminent ramp-up of production in
two continents. With his excellent leadership skills, I'm confident
that Magnus will ensure strong execution of OXE's strategy to
supply the most durable outboard on the market. At the same time, I
want to emphasize the board's deep appreciation of Myron Mahendra's contributions as CEO over the
recent years, which have been instrumental in taking the company to
where it is today. In his new role, Myron will have the focus to
further develop the company's relationships and position on the
market, which will be key to our continued growth" says
Anders Berg, Chairman of the
board.
This disclosure contains information that OXE Marine AB is
obliged to make public pursuant to the EU Market Abuse Regulation
(EU nr 596/2014). The information was submitted for publication,
through the agency of the contact person, on 09-02-2021 07:00
CET.
CONTACT:
Certified Adviser
FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ).
Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail
info@fnca.se.
For further information, please contact:
Anders Berg, Chairman of the board,
anders.berg@oxemarine.com, +46 70 358 91 55
OXE Marine AB (publ) is obligated to make this information
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the contact
persons set out above, on 9 February
2021 at 07.00 CET.
OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF) has,
after several years of development, constructed the OXE Diesel, the
world's first diesel outboard engine in the high-power segment. The
Company's unique patented engine-to-propulsion power transmission
solutions have led to high demand for the Company's engines
worldwide.
This information was brought to you by Cision
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OXE Marine AB (publ)
appoints Magnus Grönborg as CEO and Myron Mahendra as EVP Business
Development , Sales and Marketing
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SOURCE OXE Marine AB