Swedish property group SBB replaces CEO as search for buyers continues (updated)

Akelius Residential Property AB (publ)

02/06/2023 13:40

(Adds quote, detail)
       HELSINKI, June 2 (Reuters) - Sweden's SBB  SBBb.ST  said
on Friday that the company's founder and CEO Ilija Batljan will
step down and is replaced by real estate industry veteran Leiv
Synnes as the board continues to seek buyers for all or parts of
the indebted group.
        "With Leiv Synnes as the new CEO, SBB gains a new,
highly qualified force that can manage the company with full
focus and support the board of directors in the strategic
review," board Chair Lennart Schuss said in a statement.
  
        Hit by soaring interest rates that forced the company to
cancel its dividend and scrap a share issue, SBB on Monday said
it was considering 
    a sale
     of all or parts of the company.
  
        Synnes, born 1970, is leaving his position as chief
financial officer at rental property company Akelius  AKELd.ST 
to join SBB.
  

 (Reporting by Essi Lehto, editing by Terje Solsvik)
 ((essi.lehto@thomsonreuters.com; +358505412375;))