Ratos AB: Jyri Järvinen new CEO of LEDiL
Press release 19 December 2017
Jyri Järvinen has been appointed as the new CEO of LEDiL, a leading growth company in the global market for secondary optics for LED lighting, as Rami Huovinen hands over the leadership after seven years as CEO. With experience of successfully developing organisations undergoing change, Jyri Järvinen will now lead LEDiL on its continued expansion. He will assume his new position in February 2018.
Jyri Järvinen has more than 20 years of operational and international experience within the ABB Group. Most recently as Group Vice President Industrial Drives and Wind converters. Jyri will take over as CEO of LEDiL on 1 February 2018.
"Under the leadership of Rami Huovinen, LEDiL has implemented a number of growth and innovation strategies in recent years that have contributed to the company's leading market position. As the company now enters the next stage of its expansion and its organisational and product development, we consider Jyri - with his leadership and operational experience - to be a highly suitable person to lead the company. LEDiL is well positioned to achieve organic growth in several application areas and markets, and Jyri's experience of global sales development and customer focus will be highly valuable in these efforts," says Robin Molvin, Senior Investment Director.
LEDiL is a leading Finnish company in the global market for secondary optics for LED lighting. LEDiL products are sold through its own sales force and through agents and distributors in Europe, North America, South America and Asia. Ratos acquired 66% of LEDiL in 2014 and the company has demonstrated continuous growth and a strong operational performance in recent years. Sales for the first nine months of 2017 amounted to EUR 31.1m and the EBITA margin to 30.5%.
For further information, please contact:
Robin Molvin, Senior Investment Director, +46 70 695 50 49
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98
Financial calendar from Ratos:
Year-end report 2017 16 February 2018
Interim report January-March 2018 3 May 2018
Interim report January-June 2018 17 August 2018
Interim report January-September 2018 25 October 2018
Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos's portfolio consists of 14 medium-sized Nordic companies and the largest segments in terms of sales are Industrials, Consumer goods/Commerce and Construction. Ratos is listed on Nasdaq Stockholm and has a total of approximately 13,400 employees.