No. 1/2018
Copenhagen, 8 January 2018
Lauritz.com is developing the structure of the management team in order to optimize the commercial capacity and momentum in future management.
In this connection, Lauritz.com is happy to appoint Thomas Stensgaard to Chief Commercial Officer (CCO) of the group. Thomas Stensgaard will be responsible of the commercial roll out of the coming new revised strategy of Lauritz.com during 2018.
Thomas Stensgaard has 12 years of experience in leadership positions in various commercial roles in several International companies. During the last 5 years Thomas has worked at Lauritz.com as Chief Marketing Officer and prior to that, as Chief Client Officer at Mindshare A/S, as well as Marketing Manager at Debitel A/S. He has a cand. merc. degree from Copenhagen Business School.
The role as CCO is a new position at Lauritz.com, created to make a lean organisation with a clear both top- and bottom line responsibility within the central and decentral sales and marketing functions. On the long term, Lauritz.com will appoint nationally based country managers to push sales decentrally in the auction houses per country in collaboration with the local branch managers. These country managers will refer to the CCO.
Thomas Stensgaard comments on his new position as CCO: 'Lauritz.com is a strong scalable concept with great international potential. I am proud to be working with so many passionate and dedicated colleagues as well as partners. Lauritz.com has earned its impressive position as international first mover within online auctions, and I believe that we will recapture our growth track when we implement our upcoming revised strategy.
Chairman Bengt Sundstrøm explains:
'The competition has increased significantly the last 2 years with more players within sales of vintage objects, which has challenged us in 2017. But we are ready and eager to consolidate and further expand Lauritz.com's position as the biggest auction house in the Nordics. We will in 2018 implement our revised growth strategy, aligned with the current market situation. We will be focusing on our core business of online auctions of art, design and antiquities in our core geografical markets, yet presenting new progressive customer offerings within e.g. expertise, shipment and payment services. We know Thomas Steensgaard's competences since five years and trust that he is ready to lift this responsibility. At the same time, we will introduce the next level of a cost cutting plan thus increase earnings on our auction turnover'.
Thomas Stensgaard will take a new seat in the Executive Board of Lauritz.com with immediate effect in order to upscale the commercial drive in the Executive Board.
At the same time, Lauritz.com group has together with interim CEO Henrik Engmark decided that he will stop in the interim CEO position to go back to his normal role as COO of Lauritz.com that he has held the last 5 years. Henrik Engmark will leave the Executive Board, but will as COO stay an important and experienced member of the management team.
Thus, the Executive Board will consist of CCO Thomas Stensgaard. Lauritz.com's new CFO Preben Vinkler Lindgaard since 02 Jan. 2018 and the coming CEO. Lauritz.com Group is still in the process of recruiting its future CEO. Until the new CEO is in place, Bengt Sundstrøm will as chairman for Lauritz.com periodically be working closer to operations in collaboration with the Executive Board and the management team.
Best regards
Lauritz.com A/S
Bengt Sundström
Chairman and Founder of Lauritz.com
For press enquiries, please contact:
Susanne Sandsberg Klubien,
+45 26891909
E-mail: press@lauritz.com
Or Bengt Sundström
+45 20209800
Certified advisor: Erik Penser Bank, Stockholm
Market place: Nasdaq First North Stockholm
This information is information that Lauritz.com A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 10.10 am CET on 8 January 2018.
