The Kappahl Board has unexpectedly decided to replace CEO Johan Åberg this morning due to wrong development in the fashion chain.
”We make the assessment that new leadership with more industry experience is required,” says Anders Bülow, Chairman of the Board of Directors.
The Board of Directors of KappAhl AB today announces it has decided to discharge from office the Chief Executive Officer Johan Åberg with immediate effect and to appoint the Chief Financial Officer Anders Düring as acting Chief Executive Officer. The recruitment process for a new Chief Executive Officer has been initiated.
”Johan Åberg has put a successful effort into turning around KappAhl’s performance during the last years. The Board of Directors now makes the assessment that new leadership with more industry experience is required in order to achieve the company’s long-term targets,” says Anders Bülow, Chairman of the Board of Directors.
Johan Åberg has been the CEO of Kappahl since November 2011. Before that he was CEO of Jula and of Bauhaus Sweden. He was also discharged from office at Bauhaus.
To Svenska Dagbladet Anders Bülow says Kappahl have a too high proportion of sales by price reductions. And the recent interim reports have not been satisfying.
”It does not matter how much we invest in fine boutiques and more unless we have customers in focus. They do not buy the stores, but they buy clothes,” says Bülow.
The decision was taken this morning and Johan Åberg was informed by Anders Bülow after this.