Eniro appoints Board Member Orjan Frid as the new CEO

– SWEDEN, Stockholm – Eniro (STO:ENRO) has today appointed Mr. Örjan Frid as the new President and CEO of the Eniro Group. It is the opinion of the Board of directors that a new leadership is required in order to successfully manage the necessary corporate change process that it envisages. Mr. Örjan Frid assumes his position immediately.

– The new Board of directors for Eniro is, since the middle of the second quarter, undertaking an in-depth analysis of Eniro’s business options. It is the opinion of Board of directors that Mr. Örjan Frid has the necessary experience in order to manage the corporate change that will be required, says Mr. Björn Björnsson – Chairman of the Board.

Örjan Frid

The Board of directors has today appointed Mr. Örjan Frid as the new President and CEO of the Eniro Group. Mr. Frid has more than 25 years of experience from turnaround situations in a large number of Swedish companies in various industries. He has previously served as interim CEO, COO and project manager in organisations that were subject to significant change and restructuring. Mr. Frid has also worked as CEO of Patria Helicopters AB, Eneas Energy AB and TradeDoubler AB. Mr. Frid is a member of the Eniro Board of directors that was elected at the annual general meeting in April this year. He will assume his position immediately.

– I look forward to continue the work of adjusting Eniro’s businesses in order to create a competitive company in a constantly changing digital market environment, says the new CEO and President Mr. Örjan Frid

The Board of directors has decided to terminate the employment contract of Mr. Stefan Kercza. Nevertheless, the Board of directors would like to thank Mr. Kercza for his valuable contributions as Eniro President and CEO since 2014 and member of the group management since 2011. Under Mr. Kercza’s leadership Eniro has completed several extensive and important organisational changes, as well as the implementation of efficiency measures in order to stabilize the earnings level.

In accordance with Mr. Kercza’s employment contract he will be entitled to 6 months termination notice, if terminated by himself and 12 months termination notice when terminated by the Company. In addition, upon contract termination, he will be entitled to a severence payment amounting to 6 monthly salary, with deduction of salary from any other source.

Eniro is a leading search company for individuals and businesses in the Nordic region. With quality-assured content and an unrivalled user experience Eniro inspires local discoveries and makes local communities thrive. Eniro’s content is available through internet and mobile services, printed directories, directory assistance and SMS services. Each week Eniro Group’s digital services have 8.1 million unique visitors who perform 14.5 million searches. Eniro Group has about 1,700 employees and operations in Sweden, Norway, Denmark, Finland and Poland. The company is listed on Nasdaq OMX Stockholm and headquartered in Stockholm. In 2015, revenues amounted to SEK 2,438 m, with a profit before depreciation of SEK 383m.

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