The Group has resolved on non-cash flow affecting one-off items predominantly related to goodwill impairment due to increased WACC for group companies, write-down of assets and revised earn-out estimates.
This results in an effect on EBITDA of 94 million SEK and -830 million SEK on EBIT in Q2 2023.
Erik Gatenholm steps down
The Group has also announced that Erik Gatenholm, after initiating discussions with the Board of Directors, has decided to step down as President and CEO of BICO Group. Maria Forss has been appointed new President and CEO and she will assume office on November 27, 2023, or sooner.
The Board of Directors has, together with Erik Gatenholm, concluded that the timing is right for a new CEO and President. This discussion was initiated by Erik Gatenholm, and he has together with the board concluded that in the next phase BICO needs a CEO with strong operating skills and experience in scaling a global organization, states the Group.
Maria Forss has profound leadership skills and life science experience, which will secure steadfast focus during BICO’s further development and create shareholder value.”
“On behalf of the Board of Directors, I would like to welcome Maria Forss. She has profound leadership skills and life science experience, which will secure steadfast focus during BICO’s further development and create shareholder value,” says Rolf Classon, Chairman of the Board, BICO Group AB. “I would also like to thank Erik Gatenholm for his vision and dedication to build a strong life science company. During his tenure the company has evolved into a Group which is built on a market leading commercial portfolio.”
Maria Forss (born 1972) has extensive international experience from leading positions in both medtech and pharma companies, such as Vitrolife and AstraZeneca. The last years within Vitrolife Maria Forss has as the Senior Vice President led the Consumables Business Area and before that she was the Vice President of Business Development and Global Marketing. Maria Forss has successfully developed businesses through the whole value chain and in the whole product life cycle as well as acquisitions and integration of companies.
Erik Gatenholm will, as major shareholder, also remain in his role as board member of BICO.”
In order to enable a seamless transition, Erik Gatenholm will remain in his current position until Maria Forss assumes as new President and CEO. To secure continuity Erik Gatenholm will, as major shareholder, also remain in his role as board member of BICO.
Photo of Erik Gatenholm: Cellink