ES Energy Save's Board of Directors appoints Yibo Zhao as new CEO

About this update from Es Energy Save Holding Ab Class B

The Board of Directors of ES Energy Save Holding AB (publ) has decided to appoint the current Deputy CEO, Yibo Zhao, as the new CEO, effective from the time of the Annual General Meeting on 29 April. The company's largest shareholders, Christian Gulbrandsen and Fredrik Sävenstrand, through Project Air AB, announce that they intend to propose to the Nomination Committee that the current CEO, Fredrik Sävenstrand, be elected Executive Chairman of the Board at the Annual General Meeting. Tedde Jeansson, who is the company's third largest owner, has announced that he is positive to the proposal. The current Chairman of the Board, Per Wassén, is available as a member of the Board of Directors for the Annual General Meeting and is intended to be proposed as Deputy Chairman of the Board. Fredrik Sävenstrand will remain as CEO until the 2026 Annual General Meeting.The change is part of a planned succession that marks a natural step in the company's development. In recent years, Energy Save has established a successful collaboration with Aira, created a new propane-based range of products and a completely new product platform for both residential heating and commercial property systems. The digital offering has been strengthened, while the distribution network has expanded in key markets.Yibo Zhao has worked at Energy Save since January 2022 and has in his role as Chief Operating Officer (COO) had overall responsibility for the company's ISO certification. He is currently Deputy CEO, owns 54,423 shares and has recently also been responsible for strengthening and developing sales under the company's own brand: ES Energy Save.- With Yibo Zhao as CEO, Energy Save's organization and business will continue to develop. He has shown strong and determined leadership, and I feel confident that he will continue his good work. The change of CEO means an opportunity for more streamlined roles in the management of the company and more effective leadership," says Fredrik Sävenstrand, outgoing CEO of Energy Save.In his role as Executive Chairman of the Board, Fredrik Sävenstrand will focus on the development of strategic partnerships, financing and ownership matters as well as the work of the Board of Directors of the ES Energy Save Group and its subsidiaries."This solution allows me to focus on developing new partnerships and business, especially in the OEM business. In the same...

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