Kinnevik CEO Lorenzo Grabau to leave company

The board of directors of Kinnevik has announced that Lorenzo Grabau is leaving Kinnevik with immediate effect. Joakim Andersson has been appointed acting CEO, while search process for Lorenzo's successor will also be undertaken by the board.

Commenting on Grabau’s departure, Chairman of the Board, Tom Boardman said in a statement, "Lorenzo Grabau has made a significant contribution to Kinnevik in leadership positions over the past four years, the last 2.5 years as CEO. He has built a strong team and successfully streamlined and consolidated our portfolio and assets. Kinnevik is now well-positioned to enter the next phase of its strategy of investing in and building leading digital consumer brands."

Grabau will remain in his positions in the boards of directors of Millicom, Qliro Group, Tele2 and Zalando. Acting CEO Andersson has been Chief Financial Officer of the company since February 2015. He joined Kinnevik in 2001 and has over the last 15 years held a number of positions in the finance organization including group treasurer from 2007.

Picture:Lorenzo Grabau