CapMan Plc Stock Exchange Release 27 March 2017 at 9.15 a.m. EEST
CapMan Plc’s CEO to change
CapMan’s CEO Heikki Westerlund has announced that he is resigning from his position as CEO. He will continue in his position until CapMan’s Board of Directors has chosen a replacement.
“As a listed company, CapMan is in good shape, and we have reached many of our strategic goals in the last year. During my term as CEO, beginning from August 2013, we have approximately tripled CapMan’s market value, and the annual return for shareholders has been well over 20 per cent. The acquisition of Norvestia, which was a strategically important step, has been successfully concluded. Now is a good time to move forward. Regarding future endeavours, my interests lie in the core competences of a private equity investor, i.e. increasing shareholder value in both listed and unlisted companies,” Heikki Westerlund says.
Westerlund has pledged to remain as an advisor to Growth Equity, CapMan’s investment area focusing on minority investments.
“I would like to sincerely thank Heikki on behalf of the entire Board of Directors for his uncompromising contribution to CapMan’s success,” says Andreas Tallberg, Chairman of the Board of Directors. “We are now looking for a new CEO for CapMan, with a competence profile that is well suited to CapMan’s strategy as a specialised asset management company.”
Andreas Tallberg, Chairman of the Board of Directors, CapMan Plc, tel. +358 40 700 2252
Heikki Westerlund, CEO, CapMan Plc, tel. +358 50 559 6580
BOARD OF DIRECTORS
Nasdaq Helsinki Ltd
CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers we have actively developed hundreds of companies and real estate and thereby created substantial value in these businesses and assets over the last 25 years. CapMan has today 100 private equity professionals and manages 2.8 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. Our objective is to provide attractive returns and innovative solutions to investors and value adding services to professional investment partnerships, growth-oriented companies and tenants. Our current investment strategies cover Buyout, Growth Equity, Real Estate, Russia, Credit, Infrastructure and Tactical Opportunities. We also have a growing service business that currently includes fundraising advisory, procurement activities and fund management.