Catena Media‘s nomination committee has proposed Erik Flinck for the role of chairman of the board of directors, while Dan Castillo is slated for election as a new board member.
Flinck currently chairs the digital health startup, Dr. Hud, and has previously held the position of managing partner at Boston Consulting Group Sweden. With almost two decades of experience in management consulting, he brings expertise in corporate management, growth strategies, and turnarounds. Additionally, Flinck served as head of group strategy and M&A at Sandvik AB.
Meanwhile, Dan Castillo offers over two decades of expertise across start-ups, growth companies, and turnarounds. Having been an investor in Catena Media since 2015, he brings valuable insight.
Castillo’s experience includes listed board positions, notably with Kotipizza, acquired by Orkla in 2018. Presently, he serves on the boards of five companies, spanning fintech with Quartr.com and movie production with Hope Studios.
Catena’s nomination committee has recommended the re-election of Øystein Engebretsen, Theodore Bergquist, Adam Krejcik, and Sean Hurley to the board. However, Göran Blomberg, Esther Teixeira-Boucher, and Austin Malcomb have declined re-election. Additionally, the committee has proposed reducing the board size to six members from the current seven.
Earlier this month, Catena Media appointed Manuel Stan, a former Kindred Group executive, as its new CEO after Michael Daly resigned. The company’s Q4 2023 financial report showed a 41% decrease in revenue to €14.5m and an 88% drop in adjusted EBITDA. Daly attributed the decline to market challenges such as intense competition and reduced operator acquisition costs.
Catena Media plc (CTM.ST) is currently trading at SEK9.33 (9.71%).
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