Qliro Group AB (publ.): Magnus Fredin Appointed New CEO for CDON and Other Management Changes

Regulatory News:

Qliro Group (STO:QLRO)

Qliro Group AB (publ.) today announced management changes within the Group.

Magnus Fredin has been appointed CEO of CDON AB (the marketplace CDON.com) and succeeds Patrik Settlin. Magnus will assume his new role on August 17 and joins Qliro Group from the position as CEO of the e-commerce stores Babyshop and Alexandalexa (The Luxury Kids Group) which are leading e-commerce stores within the premium segment for kids. Prior to this, Magnus held the position as Klarna’s VP Global Sales for many years. Patrik Settlin will remain within the Group during a transitional period.

Erik Löfgren has been appointed Head of Communications for Qliro Group and succeeds Fredrik Bengtsson who has decided to leave the Group after over 10 years in different management positions. Erik will assume his new role as of August 11 and most recently comes from the communications consultancy firm Kreab.

Sanna Westman was appointed Head of Business Development for Qliro Group in June 2015. Sanna succeeded Patrik Illerstig who was appointed CEO of the subsidiary Qliro AB in conjunction with the launch of Qliro Financial Services in 2014. Previously, Sanna worked for the management consulting firm McKinsey & Company.

Daniel Sjöström has been appointed Head of People for Qliro Group, a new position within the Group. Daniel will join Qliro Group in September and has during the last five years worked with Executive Search for Russel Reynolds Associates.

Paul Fischbein, President and CEO of Qliro Group, comments: "We are very pleased to be able to announce the recruitment of these competent key people. Magnus Fredin, who will be CEO of our, in terms of revenue, largest subsidiary has experience from roles as CEO of e-commerce companies as well as from providing important services to e-retailers. The recruitment of Magnus matches our ambitious goals for CDON to become the leading marketplace and e-commerce platform in the Nordics.

In addition to the recruitment of Magnus, we also strengthen our Group functions thanks to the recruitment of Sanna Westman, Erik Löfgren and Daniel Sjöström. As we welcome our new key employees, I would also like to thank Patrik Settlin and Fredrik Bengtsson for their time at Qliro Group and wish them the best of luck when they now leave the Group to take on new challenges.”

The information in this announcement is such that Qliro Group AB (publ) is required to disclose under the Securities Markets Act. This information was released for publication at 08:00 CET on 11 August 2015.

About Qliro Group

Qliro Group is a leading e-commerce group in the Nordic region. Since the start in 1999, the Group has expanded and broadened its product portfolio and is now a leading e-commerce player in consumer goods and lifestyle products through CDON.com, Lekmer, Nelly (Nelly.com, NLYman.com, Members.com), Gymgrossisten (Gymgrossisten.com/Gymsector.com, Bodystore.com, Milebreaker.com) and Tretti. The group also comprises the payment solution Qliro. In 2014, the group generated 5.0 billion SEK in revenue. Qliro Group’s shares are listed on Nasdaq Stockholm’s Mid-cap list under short name "QLRO”.

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