SCA’s board announced the appointment of Magnus Groth as president and CEO of SCA, effective March 1. Groth has worked at SCA since 2011, and the company says his role as president of the Business Unit Consumer Goods Europe at SCA has given him deep knowledge of SCA, its customers and consumers as well as their needs.
 
Groth also has extensive experience among other things as CEO of the listed company Studsvik. He has taken an active part in developing SCA into a global leading hygiene and forest products company with strong brands, fantastic employees and successful value creation for shareholders and other stakeholders. 
 
SCA’s board finds that Groth is the right person to continue to develop SCA in line with the strategy to focus on growth, innovation and efficiency. A key factor of success in his leadership has been to make continuous improvements for customers and consumers through innovation and cost efficiency.
 
“It is a great responsibility to lead SCA and I have proudly accepted. I am also humble to this task. Now we will go from today’s position as a leading global hygiene and forest products company to continuously develop SCA going forward,” says Groth.
 
The announcement of Jan Johansson stepping down as president and CEO came just prior to the Groth announcement.
 
Johansson’s notice happened in connection to a board meeting. “The last months I have spent a large part of my time on the ongoing audits related to SCA. A preliminary investigation has also started, which means that the ability to focus on the business has been further reduced. The decision that the board and I have reached in the interest of SCA, our shareholders, employees and my family is that I step down as president and CEO,” says Johansson.
 
According to SCA, in line with the board and in accordance with the employment contract, which stipulates that Johansson has a notice of two years (fixed salary no bonus), he will be at the disposal of the board and Groth, the appointed president and CEO.
 
“As president and CEO, it has been very stimulating to lead SCA’s journey of change since 2007,” Johansson concludes.
 
SCA’s board also provided a statement in a joint announcement: “The board regrets, but understands and respects that Jan Johansson cannot effectively lead SCA under the current conditions. The Board would like to emphasize that there is no new information related to the ongoing audits. The Board has continued great confidence in Jan Johansson. As president and CEO, Jan Johansson has in a very competent and value creating way led SCA during an important and successful journey of change for growth and innovation. Now we have a platform for global expansion. The board would like to extend their warmest thanks for his valuable contributions as president and CEO.”
 
In related news, Mats Berencreutz, executive vice president in SCA, will retire on March 1, 2015, and will thereby leave the Group Management and SCA.