Finnish finance veteran, Sampo chair Wahlroos to step down (updated)
18/05/2022 13:59
(Adds comments, details)
HELSINKI, May 18 (Reuters) - The chairman of Finnish insurer
Sampo SAMPO.HE Bjorn Wahlroos, a veteran of the Nordic
country's financial industry, said on Wednesday he would step
down in 2023.
"I will today announce that I will no longer stand for
re-election next year," he told a conference call after Sampo's
annual shareholder meeting.
Wahlroos, who turns 70 later this year, said he would also
step down as chairman of Finnish forestry group UPM Kymmene
UPM.HE next year.
Sampo told the market that the Norway-based holding company
Becasse, which is owned by Wahlroos, had sold 900,000 Sampo
shares.
"I've been transferring assets to my children and I have
preferred to transfer the most long-term assets in the
portfolio, which typically would be the Sampo shares," he said,
adding that his holding company would stay overweight in Sampo
even after his retirement.
Wahlroos, who was previously chairman of the Nordic region's
largest lender Nordea's NDAFI.HE , said other reasons for the
large transactions included restructuring his family business on
private equity and private debt investments.
Following the transactions, Wahlroos said his family held
about 3.7 million Sampo shares, or a roughly 0.7% stake.
(Reporting by Anne Kauranen; Editing by Louise Heavens and
Edmund Blair)
((anne.kauranen@thomsonreuters.com; +358401895560;))