Orthex Corporation, Stock exchange release, 14 February 2024 at 2.45 p.m. EET
Orthex is clarifying its operational responsibilities resulting in corresponding changes in the Management Team. Operations Director Tom Ståhlberg has been appointed Chief Supply Officer (CSO) and will assume the overall responsibility for Orthex production, supply chain and purchasing. Operations Director Hans Cronquist will continue leading our largest production site in Tingsryd. Given the importance of the Tingsryd factory, Hans Cronquist will remain a member of the Management Team. Mr Cronquist will report to Tom Ståhlberg. These changes will be effective as of 1 March 2024. The change accelerates the transformation towards increasing company-wide functional responsibilities.

CEO Alexander Rosenlew summarizes the development: "Our ambition to be the leading storage category brand in Europe and the best partner for both new and existing customers requires that our operations are structured for growth and for efficient reactions to changing operating conditions. With this target in mind, it is a natural step to move towards a set-up where investment decisions, production location and ways of operation can seamlessly be optimized between our different production sites and logistics centers." The change also removes the need to replace Peter Ottosson's position in the Management Team.

As of 14 February 2024, Orthex's Management Team will consist of:

Alexander Rosenlew, Chief Executive Officer
Saara Mäkelä, Chief Financial Officer and Head of IT
Hanna Kukkonen, Chief Marketing and Sustainability Officer, Head of Product Development
Tom Ståhlberg, Chief Supply Officer, from 1 March 2024
Nicholas Ledin, Sales Director, Nordics
Alex Nielsen, Sales Director, Europe and International Markets
Hans Cronquist, Operations Director, Tingsryd
Peter Ottosson, Operations Director, Gnosjö, until 30 April 2024

As announced by Orthex on 9 January 2024, Operations Director Peter Ottosson has decided to leave the company. Mr Ottosson will continue in his current role until the month of May to support the smooth transition of responsibilities to his colleagues.

Orthex will publish its financial statements release for the year 2023 on 5 March 2024. Due to the silent period, Orthex will not give any further comments on these changes prior to that.
Further enquiries:
Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 (0)40 500 3826
alexander.rosenlew@orthexgroup.com
Saara Mäkelä, CFO, Orthex Corporation
Tel. +358 (0)40 083 8782
saara.makela@orthexgroup.com
Distribution:
Nasdaq Helsinki Ltd
Main media
https:/investors.orthexgroup.com/
 

Orthex in brief
Orthex (ORTHEX, Nasdaq Helsinki, Finland) is a leading Nordic houseware company. Orthex offers a broad assortment of practical and durable household products with a mission to make consumers' everyday life easier. Orthex main consumer brands are SmartStore™ in storage products, GastroMax™ in kitchenware and Orthex™ in home and plant care categories. Orthex aims to be the industry forerunner in sustainability and to become carbon neutral in its production by 2030. Read more www.orthexgroup.com.

Orthex's net sales in 2022 were 84.0 million euros. The company has customers in more than 40 countries and local sales organisations in the Nordics, Germany, France, the UK, and the Benelux.

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