June 5, 2020 / 7:17 AM / a month ago

UPDATE 1-Clas Ohlson CEO leaves for top job at Sweden's biggest forestry association

* Lyra to leave in December to become CEO at Sodra

* Lyra has been Clas Ohlson CEO since 2017

* Clas Ohlson’s shares down 2%

* Clas Ohlson has grown core sales during pandemic (Adds statement from Sodra)

STOCKHOLM, June 5 (Reuters) - Clas Ohlson Chief Executive Lotta Lyra will leave the budget DIY and homewares retailer in December to take on the top job at Sweden’s biggest forestry association.

Lyra, who has led Clas Ohlson since 2017, will leave the company in December, it said in a statement late on Thursday.

“The opportunity that I was offered was too attractive to pass,” Lyra said.

The century-old retailer’s shares fell 2% in early Friday trade, taking their year-to-date decline to 5%. However, they have soared nearly 75% since hitting a year-low in mid March as the company has weathered the coronavirus crisis relatively well.

Sodra, an association of 52,000 forest owners, confirmed on Friday it had appointed Lyra, who has previously worked at the association, as CEO.

Clas Ohlson said its board would now start the recruitment process for a new top executive. (Reporting by Johannes Hellstrom and Anna Ringstrom; editing by Niklas Pollard and Mark Potter)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below