Cloetta AB: Chief Executive Steps Down

Stockholm / SE. (cab) David Nuutinen, President and CEO of Swedish Cloetta AB, has due to private reasons decided to leave the company as of 01 September. Danko Maras, CFO, will assume the position as interim President and CEO. The Board of Directors will immediately initiate a process to find a permanent CEO. «David Nuutinen has been a successful and appreciated leader in Cloetta during his thirteen years with the company, including the last year as CEO. Therefore, I very much regret that he has decided to leave Cloetta and on behalf of the Board I would like to express our sincere thanks and appreciation to David for his dedication and excellent work for the company», says Lilian Fossum Biner, Chairman of the Board of Directors. «I am very pleased with Danko Maras taking the role as interim CEO. He is very experienced and has been with the company for many years and will together with the Group Management Team make sure that we continue to drive profitable growth. Strategy and financial targets therefore remain intact», says Lilian Fossum Biner. Nuutinen will be available to support the Board and the management team during his term of notice of six months.