Skandia chairman Bernt Magnusson has this morning announced his departure from the company, citing a board split over the bid from Old Mutual as the main reason for not staying.
Fellow director Lennart Jeansson has been appointed by the board to take over as chairman. “I do not consider it right to continue to lead the work of the board when there are different opinions on an important and central issue,” Magnusson says in a statement released by Skandia. ”Now that the Board has decided to reject the offer for the company, it is natural and in Skandia’s best interests that I hand over the chairman’s gavel to someone who shares the opinion of the majority within the board, and can therefore fully represent the company’s position. As a consequence, I also consi...
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