Scandic Hotels Group AB (publ) changes President and CEO – Jens Mathiesen replaces Even Frydenberg. In connection with this, Scandic comments on its financial performance in the fourth quarter.

The Board of Directors has resolved to appoint Jens Mathiesen as the new President and CEO. Jens Mathiesen is a member of Scandic’s Executive Committee and has successfully held the position of Country Managing Director Scandic Denmark since 2008.

“The Board of Directors has arrived at the conclusion that Scandic needs new leadership, so it’s natural for us to part ways. I want to emphasize that this is a leadership matter and not due to the financial performance of the company, and that Scandic’s strategic direction stands firm. The Board of Directors are most grateful to Even Frydenberg for his contribution to the company,” says Per G. Braathen, Chairman of the Board of Directors.

Jens Mathiesen will assume the role of President and CEO with immediate effect. Until his replacement has been appointed, he will also serve as the Acting Country Managing Director Scandic Denmark

For the fourth quarter, Scandic will report net sales of approximately 4,590 MSEK and an adjusted EBITDA of approximately 480 MSEK. The complete year-end report will be published on February 19 at 07.30 CET.

For further information, please contact:

Henrik Vikström, Director Investor Relations
Email: henrik.vikstrom@scandichotels.com
Telephone: +46 70 952 80 06

www.scandichotelsgroup.com

This information is information that Scandic Hotels 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 persons set out above, at 16:15 CET on January 17, 2019.

About Scandic Hotels Group
Scandic is the largest hotel company in the Nordic region with 16,000 team members and a network of around 280 hotels in operation and under development in more than 130 destinations. Scandic Friends is the biggest loyalty program in the Nordic hotel sector. Corporate responsibility has always been a part of Scandic’s DNA and Scandic has been a pioneer when it comes to integrating sustainability in all of its operations. Scandic Hotels is listed on Nasdaq Stockholm. www.scandichotelsgroup.com