Magnus René, CEO, and Johan Brandt, CFO, to leave Arcam
December 5, 2017
Arcam AB has announced that its President and CEO, Magnus René, and its CFO and deputy CEO, Johan Brandt, have both chosen to terminate their respective employment agreements with the company.
René has been CEO of Arcam since 2001 and Brandt has been CFO since 2012. René has a notice period of six months and will remain in his position until a new CEO is appointed, or at the latest until June 3, 2018. Brandt has a notice period of three months and will remain in his position until a new CFO is appointed or at the latest until April 30, 2018.
“Magnus René has with energy and decisiveness built Arcam to a leading company in the Additive Manufacturing sector. He has together with his team, customers and partners worldwide developed the company from a start-up to a global industry. Magnus has also been instrumental in bringing Arcam into its new future with GE as an owner,” stated Göran Malm, Chairman of Arcam.
“Johan Brandt has as CFO and deputy CEO built the structure of the company and thereby facilitated our growth and globalisation. Johan has with his leadership and his team developed first-class management of Arcam’s and our subsidiaries financial functions,” he concluded.
Commenting on the announcement, René added, “I have had a fantastic journey, being part of the team building Arcam during those 16 years. Today, Arcam is well positioned, with a great team, world-class products, strong leadership in our companies and a strong cash position after the recently concluded share issue. With GE as majority owner this is a good time for me to move on and for a new CEO to take over and develop the company in the new environment.”