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Ferronordic appoints Managing Director for Germany

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Ferronordic has appointed Martin Bauknecht Managing Director of the German business and new member of the Group Management Team, effective 3 February 2021.

Martin has solid experience of dealership management. Until recently he was the CEO of Raiffeisen Technik GmbH, a dealer of agricultural machinery in Germany that he turned from loss to profit. Before that he held various positions with MAN Truck and Bus. He has a degree in Economics and Business Administration from the University of Hohenheim. Martin will be based in Frankfurt. He will be part of Group Management and report to Ferronordic’s CEO, Lars Corneliusson.

Henrik Carlborg, Business Development Director and current Managing Director Germany, will return to focusing on the overall business development of the Group, including the continued expansion and improvement of the service network in Germany.

Lars Corneliusson, Ferronordic’s CEO, comments: “I am delighted to welcome Martin to Ferronordic. With his track record in turning around and transforming businesses, Martin will play an instrumental role in the next phase of growth for Ferronordic Germany and be an important asset for the Group. At the same time, Henrik will be able to focus on the strategy and further development of the Group as a whole.”

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About Ferronordic

Ferronordic is a service and sales company in the areas of construction equipment and trucks. It is the dealer of Volvo Construction Equipment and certain other brands in all of Russia and Kazakhstan, aftermarket partner of Volvo Trucks and Renault Trucks in part of Russia, and dealer of Volvo Trucks and Renault Trucks in part of Germany. The company also offers contracting services where it owns and operates equipment to carry out works for customers. Ferronordic began its operations in 2010 and now has approx. 100 outlets and about 1,400 employees. Ferronordic’s vision is to be regarded as the leading service and sales company in its markets. The shares in Ferronordic AB (publ) are listed on Nasdaq Stockholm. www.ferronordic.com

For media relations, please contact:

Ceren Wende, Director, Marketing & Communication, Tel. +46 73 658 59 80, or ceren.wende@ferronordic.com

For investor relations, please contact:

Erik Danemar, Group CFO and Head of Investor Relations, Tel. +46 73 660 72 31, or erik.danemar@ferronordic.com

The information was submitted for publication on 15 January 2021, 10:00 CET.

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