CEO of Sweden's Oscar Properties steps down with immediate effect

Oscar Properties Holding AB

05/03/2024 09:53

COPENHAGEN, March 5 (Reuters) - Troubled Swedish real
estate group Oscar Properties  OP.ST  on Tuesday said CEO Carl
Janglin would step down with immediate effect, after the company
in February had stated he would stay on until a successor had
been appointed.
    Oscar Properties' board of directors will take on
operational responsibility until a new CEO has been found, the
company said.
    "The Board is now accelerating the process of appointing a
successor to the CEO position," board Chair Peter Norman said in
a statement.
    "We also continue the work to settle the company's remaining
debt obligations and secure the company's assets," he added.
    Oscar Properties, one of several highly indebted Swedish
real estate groups buckling under soaring borrowing costs and
slower demand, in February announced that both Janglin and CFO
Magnus Thimgren resigned from their posts.

 (Reporting by Louise Breusch Rasmussen, editing by Terje
Solsvik)
 ((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))