Simon Petrén is a co-founder and former CEO of Pändy Foods AB, which was acquired by Bayn Group early this year. He has a background as a BI analyst, entrepreneur and investor and sits on the board of two foodtech companies. Since the acquisition, Simon has been Bayn Group's Vice President with main responsibility for M&A, IR and financing. Simon has an M.Sc. from KTH in Mechanical Engineering, Product Innovation Management and also studied Business Administration at Stockholm University.
"We on the Board see it as a natural step that Simon takes over as CEO at the stage that Bayn Group is in, with strong growth and a clear acquisition strategy. He is a competent, driven and talented entrepreneur with a high pace and commitment. Over the past year, he has demonstrated great ability to deliver in his focus areas and the change is also part of Bayn Group's succession planning. Together with the Board, I would like to thank Patrik Edström for his important contributions to the company during his years as CEO. It feels very secure that he will continue as COO of the Bayn Group and ensure that we get the most out of the companies already acquired. We are now preparing for continued high growth and the journey has just begun." - Peter Werme, Chairman of the Board Bayn Group AB
"It feels incredibly exciting and an honor to take over and continue building Bayn Group. Patrik and I have developed an effective dynamic in our joint work on how we build the Bayn Group to get the most out of our growth strategy. We see good opportunities for several acquisitions in the near future and with the new structure we hope to be able to further increase the pace and at the same time take advantage of synergies and gain increased leverage on our structural technology platform." - Simon Petrén, Deputy CEO Bayn Group AB
"Simon and I have in a short time built a relationship that has enabled the high rate of acquisitions we have had during the year. Through the new organization, I will be able to focus and put energy on building the operational units. We have also reviewed our succession planning and concluded that Simon is the right person to take Bayn Group to the next level. The group has grown from being just one operational business to five different entrepreneurial driven entities that will function as an industry group; this places high demands on the management's focus to effectively capitalize on the many opportunities that arise as we expand the group." - Patrik Edström, CEO Bayn Group AB
Bayn Group has had high growth during the first half of 2020 with a sales increase of approximately 1441% pro forma for the second quarter of 2020. The business has developed with several new business areas through the various acquisitions of Pändy Foods AB, Tweek AB, Koppers Candy Sweden AB and Amerpharma. Since the acquisition of Pändy Foods AB, the company has a stated acquisition strategy to be able to grow faster and become a leading player in sugar-reduced foods.
Simon will take up the new position on January 1, 2021 and Patrik Edström will continue as CEO until then. Simon is the company's third largest shareholder and owns 5,975,000 shares in Bayn Group through companies.
For further information, please contact:
Peter Werme, Chairman of the Board Bayn Group AB (publ)
Tel: +46706267899
Email: peter.werme@fefonden.se
This information is information that Bayn Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.00 CET on November 13, 2020.
Bayn Group is an independent supplier of cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn's plant-based ingredient solutions, refined through scientific research and extensive market experience, facilitate new healthier formulations and recipes focused on taste and texture to help food and beverage companies around the world reduce sugar and calories in their products. For more information www.bayneurope.com
Bayn is listed on Nasdaq Stockholm, First North Growth Market, under the ticker BAYN
FNCA Sweden AB is Bayn's certified adviser. Tel: 08-528 00 399 E-mail: info@fnca.se.
