Swedish real estate group SBB appoints new CEO (updated)
UPDATE 1-Swedish real estate group SBB appoints new CEO Adds background, quote in paragraphs 2-3
COPENHAGEN, Aug 10 (Reuters) - Swedish real estate group SBB SBBb.ST said in a statement on Monday it has appointed Andreas Morfiadakis as CEO to replace Leiv Synnes, who will step down with immediate effect.
SBB was at the centre of a Swedish property market bubble that unravelled earlier this decade as inflation and interest rates soared, triggering a restructuring led by Synnes.
"As SBB completes its transformation into an investment company centred around leading social infrastructure businesses, we want a CEO with a strong track record of building companies, creating shareholder value and working closely with boards and management teams," SBB Chair Lennart Sten said.
(Reporting by Louise Rasmussen, editing by Terje Solsvik)
((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))
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