Coor 2019 CEO Review Coor's offering Market Operations Goals Sustainability Corporate governance


Annual and sustainability report 2019

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Passion for service


Net sales SEK M


Adjusted EBITA


cash flow



CEO Review

Passion and a clear strategy bring success

Coor has never had a higher customer satisfaction rating, or such committed employees, and has never been bigger or generated higher profits.

- Mikael Stöhr, President and CEO

It is time for me to sum up another year, and once again I am pleased to note that we have succeeded in exceeding our strong performance figures from the last few years. Coor has never had a higher customer satisfaction rating, or such committed employees, and has never been bigger or generated higher profits. Yet despite all this, I still believe we have a great deal left to be done. Coor’s Nordic home market offers major opportunities for expansion, partly because a large share of the market is not outsourced and partly because more companies are looking to move to an IFM set-up. We also see significant development potential in our single service business.


Coor has succeeded in creating the market’s strongest offering through a clear long-term strategy with three components: to stay in the Nordic region, to grow in IFM and to grow in single services.

The Nordic countries are Coor’s home market and will remain so. Our proximity to our customers and our knowledge of local conditions enable us to offer adapted, flexible and effective service deliveries. As part of this strategy, in autumn 2019 Coor acquired the cleaning firm Norrlands Miljövård, which holds a leading position in the cleaning sector in northern Sweden with operations in over 15 locations from Gävle in the south to Kiruna in the north. The acquisition adds to and strengthens our existing business both geographically and in terms of expertise.

Another important element in Coor’s strategy is our continued effort to deliver the market’s best integrated services.

Coor also has a stated goal of expanding its single FM business, mainly in property services, cleaning and food & beverages, as these services form the basis in most customer contracts.


The large number of new, extended and expanded contracts that we signed in 2019 is the ultimate proof that we have succeeded in our efforts. During the year, Coor renegotiated contracts worth a total of nearly SEK 2 billion. In the past three years, Coor has had an overall retention rate of
93 per cent. For the sixth year running, we had some of the Nordic region’s most satisfied customers, according to the customer satisfaction survey that we conduct annually. Our extended IFM contracts included those with the Danish Police, Aker Solutions, Saab and Volvo Cars. Coor also signed several new contracts during the year, notably with ICA, Stadium and SSP Cleaning.


Coor would be nothing without our fantastic employees and their genuine passion for service. It is because our 11,000 employees think not only with their brains but also with their hearts when they go to work that we have succeeded in maintaining our high customer satisfaction level year after year. Not only do Coor’s employees like to create a positive atmosphere, they are also happy to get to grips with and solve the problems that arise every day, and to offer suggestions for improvements. This approach is encapsulated in our new vision.


Sustainability is one of Coor’s main focus areas. For us, the concept includes business, social as well as environmental dimensions. Over the past few years, we have strengthened our focus on sustainability. In practice, this means that we have continued our already extensive sustainability activities, with the difference that we now also define clear and measurable targets for our social and environmental sustainability activities, in the same way as we have always done for our business activities. To put these sustainability goals into a global context, we have chosen to link them to eight of the UN’s 17 Sustainable Development Goals (SDGs).

For Coor, sustainability is not a separate issue, but rather something that inspires everything we do, and a growing number of employees, customers and investors are now making demands on us in these areas. This is a very positive development, and together we can have a tremendous impact on sustainability issues.

My position is clear: Coor is a part of the Nordic region. Every day, we affect the lives of half a million people, and if we can do something to influence these people’s environment, health and safety in a positive way we should of course do so.

Another aspect, perhaps the most important one, is that active sustainability management is essential to the long-term survival of our business and for our ability to hand over Coor to the next generation.


In 2019, Coor delivered its best annual earnings to date. Coor ended the year with 5 per cent organic growth, 2 per cent growth from acquisitions and a 12 per cent improvement in operating profit. Sometimes I am asked what is the secret behind Coor’s strong performance, and the answer is very simple: there is no secret. It is simply a matter of having a clear strategy, investing in innovation and sustainability, a combination of mind and heart in everything we do and, above all, it is about hard work.

I am immensely proud of and grateful for the great confidence our customers and investors have shown us. I would also like to extend my sincere thanks to our employees across our business, who work hard every day to create the Nordic region’s happiest and most functional workplaces.

Stockholm, March 2020

Mikael Stöhr
President and CEO

Coor's offering

Four strategic areas

Coor’s strategic platform consists of four areas which define the direction for all our activities. These areas provide guidance on priorities and decisions, and help Coor to achieve its vision of creating the happiest, healthiest and most prosperous workplace environments in the Nordic region.

All to ensure that our customers are able to focus on what they do best.


Coor aims to create the happiest, healthiest and most prosperous workplace environments in the Nordic region. We strive tirelessly to build the teams and full-service solutions that enable our customers to do what they do best.


Coor’s business concept is to take over, manage and develop services in offices, at properties and production facilities, and in the public sector. We aim to run our business in an effective and sustainable manner that creates long-term value for our customers, employees and investors as well as society at large and the environment.


The Nordic countries are Coor’s home market. Coor’s proximity to its customers and its knowledge of local conditions enable us to offer customised and flexible solutions. We are attentive to our customers’ needs and work continuously to strike the right balance between economies of scale in the delivery of services and customer adaptations.

Coor has some of the largest IFM contracts in the Nordic region, including contracts with Equinor, Aibel, Ericsson, Volvo, ICA and the Danish Police, which consolidate the company’s Nordic market leadership.


Coor is the Nordic market leader in delivering IFM services to large organisations with complex requirements.

Coor sees continued growth opportunities in the IFM segment, which is growing faster than the FM market as a whole. A growing number of customers are choosing to purchase the majority of their facility management services from a major service provider with the resources to invest in development and innovation. An IFM provider such as Coor is also able to create synergies between services by using the same personnel for multiple services and thus reducing the overall cost for the customer.


As a major player, Coor is able to offer high-quality separate services at market prices. The service areas that Coor has chosen to focus on are property services, cleaning, and food & beverages, and these services are included in most customer contracts. 

Coor experienced healthy growth in smaller deals in 2019 and aims to continue to capture market shares in this area. As part of this ambition, Coor acquired the cleaning firm Norrlands Miljövård during the year.


Coor has a strong improvement and efficiency focus and strives to be the best in the industry at delivering services which increase customer value.

Continuous operational improvements are an important part of working life for Coor’s personnel. Innovations which increase our customers’ efficiency and reduce the use of resources also help to promote sustainable development.

Everything works with Coor

Meet some of our coworkers

Coor offers around a hundred different services in various service areas, ranging from individual cleaning services to complex IFM deliveries. Regardless of which services are provided, we always strive to create the happiest, healthiest and most prosperous workplace environments in the Nordic region. We do this by building teams and full-service solutions that enable our customers to do what they do best.

I like when everything is clean around me!
Age: 29
Works as: Cleaner

Tell us, what does good service mean to you?
"We always try to do our best and often put in a bit of extra time to ensure that our customers are happy. If, for example, someone has spilled some coffee in a place that is not part of our area we will deal with it immediately anyway. If things are dirty where I am working, it would be embarrassing if people saw me, even if it isn’t my responsibility. And I also like it when everything is clean around me!"

In what way do you work sustainably?
"We mostly clean without chemicals, both for the sake of the environment and to create a nice indoor environment for the customer. But for stains we use detergents. We also sort all waste that we find, separating metal, light bulbs and so on."

Good service is about striking a balance between professionalism and being personal
Age: 26
Works as: Hostess at Coor's head office

What does an ordinary day look like for you?
"At our head office, we want to show what a Coor-run workplace should look like, so everything needs to be tip-top. When visitors arrive, I welcome them, call the right person and offer them coffee. Sometimes I get asked to do things that are outside my normal duties, and of course I always help out whenever possible."

What does “good service” mean to you?
"Good service is about striking a balance between professionalism and being personal. I always try to stay one step ahead, even in small things. If a visitor pulls out a laptop, I ask them if they need a WiFi password, for example."

Coor is very culturally diverse, and I like that
Age: 56
Works as: Caretaker

Tell us, what do you do during the days?
"I do everything! In property services, we’re responsible for tasks such as repairing toilets, replacing broken mirrors or fixing roof tiles that have come loose. Some things need to be done immediately while others are less urgent."

What is the best thing about your job?
"It is a varied job where I do different things each day, and I like that. At several of our customer’s departments, I’ve got to know people well. There I’m not just one Coor employee among many; I’m Ernesto! I also like the fact that Coor is very culturally diverse."

Visitors often ask about their own flower beds
Age: 46
Works as: Gardener

Tell us about your job as a gardener at Coor.
"I work on the outdoor environment for a big customer. In the summer, I look after all the flower beds and planted areas, and in the winter it’s mostly about clearing snow and gritting. We also have car parks and large areas that need to be kept free of trash and cigarette butts. And people often come up to me for a chat. They often say that things look nice, or ask about their own flower beds."

What do you like most about your job?
"I’m plant nerd – that’s my passion – but I also like it when there’s a lot going on. Now I’m just about to start the cleaning machine to clean the goods reception area. Another day I might drive a tractor, work in a flower bed or run a training course in CPR, for which I’m an instructor."

You get to use all your senses
Age: 56
Works as: Garde-manger at one of Coor’s lunch restaurants

Good service – what does that mean to you?
"That you listen to the customer and are open to suggestions. If a guest asks for something special in the buffet, I normally try to ensure that it is included next time."

What do you do to make life easier for our guests?
"I present varied, tasty food that looks nice. We make sure there is something for every taste bud, so that our guests get the energy they need to work. If somebody has an allergy, for example, I help them to find the right dish and suggest other options because I know what everything contains."

Operating the robots is exciting and a great learning experience
Age: 25
Works as: Goods staff

Tell us what you do at Coor?
"I work at the goods reception department of a big customer and we handle nearly all parcels that arrive here, sometimes several hundred in a day. We use autonomous robots to transport the goods to the various departments. The robots have integrated lifts and make about 1,600 transports a day."

What do you enjoy most about your job?
"Operating the robots is exciting and a great learning experience. This is advanced, cutting-edge technology and something that we are proud of. We often play music down here. The atmosphere is easy-going and people laugh a lot. It often rubs off on the visitors too!"


Coor remains a leading player in the facility management

Coor has maintained its position as the leading provider of IFM services in the Nordic market while also focusing on growth in single FM services.

SEK billion
Total market

SEK billion
Outsourced FM

SEK billion

Total Market

The value of all FM services for all businesses and organisations in the Nordic region. This includes the value of services that are currently handled by the companies themselves.


The total value of the outsourced share of the market.

  • 2-3% annual growth
  • Small and large customers
  • Fragmented market
  • Coor < 5% market share


The value of integrated service deliveries in outsourced FM.

  • ~5% annual growth
  • Large customers
  • Consolidated market
  • Coor ~ 40% market share

Coors total net sales

10,313 MSEK

Net sales
by type of contract
Net sales
by service category
Net sales
by country


Nordic specialist

The Nordic countries are Coor’s home market. Coor operates in Sweden, Norway, Denmark and Finland. Our explicitly Nordic strategy and our proximity to the customers and knowledge of local conditions enable us to offer customised service deliveries.



President Coor Sweden

"The highlight of the year was the acquisition of Norrlands Miljövård, a well-run family firm that is a good fit for our company"
5,138 Net Sales MSEK
462 Adjusted EBITA MSEK
4,591 Number of employees FTE
50% Share group of sales

Successful deals

Coor Sweden extended many key customer contracts in 2019, including its major IFM contracts with Volvo Cars, Saab, Tieto and NCC. Coor was also contracted by ICA to provide IFM services to ICA’s office, warehouse and logistics facilities and by the Gävleborg Regional Council to provide cleaning services at the region’s hospitals. Coor’s telephony business entered into a contract with the Östergötland Regional Council and three units in the Stockholm Regional Council, of which Karolinska University Hospital is the largest.


Acquisition of Norrlands Miljövård

In 2019, Coor acquired the cleaning firm Norrlands Miljövård. Through high-quality services and a local presence, Norrlands Miljövård has generated strong customer loyalty and has a leading position in cleaning services in northern Sweden.

Strategic focus

In 2019, Coor Sweden engaged in intensive strategy development activities and staked out the strategic agenda for achieving the company’s long-term goals. As part of this effort, a new Sustainable Development function was established, with responsibility for driving the strategic development of Coor’s sustainability management activities.

Read more about Sweden


President Coor Norway

"I’m most proud of my own organisation, which has undergone a major reorganisation and handled it in a very good way. "
2,546 Net Sales MSEK
161 Adjusted EBITA MSEK
1,483 Number of employees FTE
25% Share group of sales

Extensive strategy work

In 2019, Coor Norway placed a strong emphasis on developing its strategy. The company was reorganised to ensure that it is able to meet expectations and demands from customers and the market in terms of skills, efficiency and implementation. In addition to strategy development, Coor Norway placed a strong focus on key areas like developing and strengthening the company’s safety culture.

Multiple sustainability initiatives

In 2019, Coor Norway worked on a number of different sustainability initiatives, both individually and in partnerships. These included The Factory, which is aimed at supporting start-ups in property technologies; Matfloken, an initiative to encourage better and more sustainable eating habits in Norway; Ringer i Vannet and Fagbrev på jobb, which centre on skills development and on getting people into work.

A successful year

Several important customer contracts were extended during the year, including the major contracts with Aibel, Aker Solutions and Deloitte. These are IFM contracts under which Coor provides a range of services. The Aibel contract was extended to 2022, Aker Solutions to 2025 and Deloitte to 2020.

Read more about Norway


President Coor Denmark

"We have focused on quality and sustainability in our deliveries. Our restaurants are a good example of that. "
1,924 Net Sales MSEK
74 Adjusted EBITA MSEK
2,163 Number of employees FTE
18% Share group of sales

Three largest contracts extended

During the year, Coor Denmark extended three of its largest contracts. The longest contract extensions were those with the Danish Police, which was also expanded to include the Prosecution Authority and the Prison and Probation Service, and with GN Store Nord and VELUX. Coor Denmark also entered into contracts with several new customers for delivery of single services. One of these is SPP at Copenhagen Airport.

Employee development

Coor continues to promote employee development. The emphasis has been on skills development and regular reviews and discussions between managers and employees. Other important activities include an active staff association and increased efforts to develop the company’s internal communications strategy and set-up.

Efficient processes and work methods

During the year, a strong emphasis was placed on streamlining processes and work methods, both with the aim of increasing revenue and to prepare the organisation for further growth. The cleaning business in the Danish organisation was reorganised through the merger of the two previous sections.

Read more about Denmark


President Coor Finland

"What I am most proud of is our employees’ attitude and the commitment they show on a daily basis. Our success would not be possible without them!"
706 Net Sales MSEK
13 Adjusted EBITA MSEK
945 Number of employees FTE
7% Share group of sales

Extended contracts

During the year, several customer contracts were extended, including those with Attendo, Pargas Municipal Council and VTT. Coor Finland also entered into a number of new contracts. This consolidates Coor Finland’s status as a nationwide service provider with a flexible service offering.

Strategic focus areas

The development of both IFM and single service contracts, and a focus on the FM business, formed a key part of Coor Finland’s strategy development activities in 2019. Coor Finland also implemented efficiencies in certain areas during the year.

Health and safety efforts yield results

The company’s systematic health and safety management activities have produced tangible results, as seen in the injury rate (TRIF), which has been halved over the past three years. The company takes a systematic approach to building a common work culture in which safety issues are prioritised.

Read more about Finland




Goals and strategy

A goal-oriented approach

Coor strives to operate in a responsible and sustainable manner. Customers, employees, owners and other stakeholders must be able to feel confident that Coor will run its business in a professional, profitable, safe and sustainable manner over time. Coor creates value in three dimensions: financially, socially and environmentally. The overall objective is to ensure that the business is successful and generates the highest possible economic return, without compromising on respect for human beings and the environment. Our social and environmental goals are as essential to the management of our business as our commercial goals. For each dimension, we have defined our stance along with objectives for how we should conduct our business. Sustainable business is about taking long-term responsibility for the activities in which you are engaged.



Target: 4-5%


EBITA margin


Target: ~5.5%




Target: >90%




Target: <3.0x




Target: ~50%


High customer


Target: ≥70




Target: ≥70




Target: ≤3.5




Target: 50%


emissions goal



Organic growth

Annual organic growth of 4–5 per cent over the course of a business cycle1).

Result: Our 5 per cent organic growth rate is driven by new business, high variable volumes and a successful ongoing effort to retain existing customers.

1) The growth rate may vary from one year to the next depending on changes in the customer base. Organic growth can also be supplemented with acquisitions.
Adjusted EBITA margin

Goal: An adjusted EBITA margin of around 5.5 per cent in the medium term.

Result: Improved EBITA margin through a focused effort to enhance efficiency and strong cost awareness

Cash conversion

Goal: A cash conversion rate in excess of 90 per cent in the medium term.

Result: Structured cash flow management leads to improved working capital and lower investments, resulting in a high cash conversion rate.
Capital structure

Net debt of less than 3.0 times adjusted EBITDA in the medium term.

Result: Our leverage improved slightly. This is still well within our target level.

Goal: The goal is to distribute around 50 per cent of the company’s adjusted net profit for the period (before amortisation and impairment of intangible assets) to the shareholders.

Result: An ordinary dividend in line with the company’s dividend policy is proposed for 2019. The uncertain financial effects associated with the outbreak of the new coronavirus mean that the company has chosen not to make any special dividend.
High customer satisfaction

Goal: The target is to maintain a high level of customer satisfaction over time (customer satisfaction score) ≥70.

Result: Coor’s result was once again at a high and stable level and we have continued to develop our customer offering.
Committed and engaged employees

The target is to maintain a high level of employee motivation (employee motivation score) ≥70.

Result: In the annual employee survey, Coor achieved its highest employee satisfaction score to date. The participation rate also reached a new high.
No accidents or long-term sick leave

The target is to reduce the company’s TRIF (total recorded injury frequency rate) to ≤3.5.

Result: Accidents are down across the business as a whole, and although we did not achieve our target in 2019 we are making good progress.
Equal opportunities

Goal:  The target is a 50/50 gender balance at management level.

Result: The proportion of women in managerial positions is 48 per cent across the company as a whole, which is aligned with the company’s objective.

Goal: Coor is working to reduce its emissions of greenhouse gases with the goal of halving the company’s carbon footprint by 2025.

Result: In 2019, Coor assessed the overall climate impact of the Group’s own activities. Based on the results, a plan will be established in 2020 for how to achieve this goal.


Focus areas

  • Financial performance
  • Customer relationships


  • Stable financial development
  • High customer satisfaction

Principal standpoints

  • Coor aims to deliver value-creating and innovative solutions based on its customer’s requirements for functionality, efficiency and security.
  • Coor aims to generate stable and profitable growth while operating in an ethically and morally justifiable manner.
  • Coor aims to provide reliable and relevant information in a secure manner.


Focus areas

  • Employee engagement
  • Health & Safety
  • Diversity


  • Committed and motivated employees
  • No accidents or long-term sick leave
  • Equal opportunities

Principal standpoints

  • Coor works actively to promote the well-being of its employees and to provide a safe work environment.
  • Coor values diversity and equality, and supports employee development and engagement.
  • Coor seeks to contribute to the development of society through local initiatives that help build a better society.

Environmental sustainability

Focus areas

  • Renewable & effective
  • Energy & emissions


  • Responsible consumption
  • Reduced greenhouse gases

Principal standpoints

  • Coor actively helps to minimise its customers’ environmental impact, especially their energy use.
  • Coor engages in structured and proactive internal environmental management activities.

Corporate Governance

Presentation of the board and management


Mats Granryd

Director since 2016. Chairman of the Board since 2017. Chairman of the Project Committee and Remuneration Committee.

BORN: 1962

EDUCATION: M.Sc. in Engineering, KTH Royal Institute of Technology in Stockholm.

WORK EXPERIENCE: President and CEO of Tele2 Group, Managing Director of Ericsson India, UK, Northern Europe & Central Asia and North Africa, Head of Supply & Logistics in the Ericsson Group. Consultant at Arrigo and Andersen Consulting.

Director General of GSMA. Director of Swedbank.

SHARE OWNERSHIP: 20,000 shares.


Anders Ehrling

Director since 2017. Member of the Project Committee and Audit Committee.

BORN: 1959

EDUCATION: M.Sc. in Economics and Business, Stockholm School of Economics.

WORK EXPERIENCE: 23 years at SAS, the final five years as CEO of SAS Sweden, President and CEO of Scandic Hotels AB, President and CEO of Braathens Aviation AB.

Chairman of Helsa Vårdutveckling Sverige AB and Keolis Sverige AB; Director of Systembolaget, Parks&Resorts Scandinavia AB and Dream Troopers AB.

SHARE OWNERSHIP: 7,000 shares.


Mats Jönsson

Director since 2000. Member of the Project Committee.

BORN: 1957

EDUCATION: M.Sc. in Engineering, KTH Royal Institute of Technology of Stockholm.

WORK EXPERIENCE: President and CEO of Coor Service Management. Various positions at Skanska, including President and CEO of Skanska Services.

Chairman of Tengbomgruppen AB and Lekolar AB. Director of NCC AB and Assemblin Holding AB.

SHARE OWNERSHIP: 329,155 shares.


Monica Lindstedt

Director since 2015. Member of the Remuneration Committee.

BORN: 1953

EDUCATION: M.Sc. and Ph.D. in Business Administration, Stockholm School of Economics.

WORK EXPERIENCE: CEO and founder of Hemfrid i Sverige AB and co-founder of Tidnings AB Metro. CEO of local newspaper Folket in Eskilstuna, Bonniers Fackpressförlag, Eductus AB and Previa AB.

Chairman of Hemfrid i Sverige AB. Director of Apotea AB, Studieförbundet Näringsliv och Samhälle, Sveriges Television AB and the German-Swedish Chamber of Commerce.



Kristina Shauman

Director since 2015. Chairman of the Audit Committee and member of the Remuneration Committee.

BORN: 1961

EDUCATION: M.Sc. in Economics and Business, Stockholm School of Economics.

WORK EXPERIENCE: Founder, consulting firm Calea AB. CFO of Apoteket AB, Carnegie Group and OMX AB. Group Treasurer, OMX AB. Vice President, Corporate Finance and Group Treasurer at Investor AB.

OTHER CURRENT DIRECTORSHIPS: CEO and Director of Calea AB. Director of BEWiSynbra Group AB, BillerudKorsnäs AB, ÅF Pöyry AB, Orexo AB, Nordic Entertainment Group AB and Diaverum AB.

SHARE OWNERSHIP: 15,000 shares


Heidi Skaaret

Director since 2016. Member of the Audit Committee.

BORN: 1961

EDUCATION: MBA, University of Washington, USA.

WORK EXPERIENCE: President of Lindorff AS and EVP Lindorff Group AB, CEO of IKANO Bank Norway, Bank Executive DNB ASA.

OTHER CURRENT DIRECTORSHIPS: Chief Operating Officer Storebrand ASA. Chairman of Storebrand Bank ASA, Storebrand Forsikring AS and Storebrand Finansiell Rådgivning AS.



Mikael Stöhr

Director, President and CEO since 2013.

BORN: 1970

EDUCATION: LL.M., Lund University.

WORK EXPERIENCE:President and CEO, Green Cargo AB and Axindustries AB. Vice President, Axel Johnson International AB. Trade Commissioner, Swedish Trade Council in Russia. Consultant, McKinsey & Company. Associate, Mannheimer Swartling Advokatbyrå.

Director of Ambea AB.

SHARE OWNERSHIP: 78,947 shares and 90,000 call options.

Employee Representatives


Glenn Evans

Director since 2013.

BORN: 1959

Employee representative


Linus Johansson

Director since 2018.

BORN: 1989

Employee representative


Rikard Milde

Director since 2019.

BORN: 1967

Employee representative


Mikael Stöhr

Director, President and CEO since 2013.

BORN: 1970

EDUCATION: LL.M., Lund University.

WORK EXPERIENCE:President and CEO, Green Cargo AB and Axindustries AB. Vice President, Axel Johnson International AB. Trade Commissioner, Swedish Trade Council in Russia. Consultant, McKinsey & Company. Associate, Mannheimer Swartling Advokatbyrå.

Director of Ambea AB.

SHARE OWNERSHIP: 78,947 shares and 90,000 call options.


Anders Asplund

HR Director since 2000.

BORN: 1955

EDUCATION: Bachelor of Social Services, Stockholm University.

WORK EXPERIENCE: HR Director, ASG and Ohlsson&Skarne. Head of Management Planning Development, Skanska AB.

SHARE OWNERSHIP: 38,598 shares and 27,500 call options.


Klas Elmberg

CFO and IR Director since 2019.

BORN: 1974

M.Sc. in International Business and Trade, Gothenburg School of Business, Economics and Law.

Several roles at Coor, including Vice President and CFO of Coor Sweden, President of Coor Norway and Head of Business Unit at Coor Sweden. Management Consultant, Accenture. Controller, Saab Automobile.

SHARE OWNERSHIP: 20,268 shares and 27,500 call options.


Annacarin Grandin

President of Coor Sweden since 2016.

BORN: 1967

EDUCATION: M.Sc. in Business and Economics, Stockholm University/University of Gävle/Sandviken.

WORK EXPERIENCE:Several roles at Coor, including President of Coor Norway, Veolia (formerly Dalkia) and the Swedish Association of Local Authorities and Regions (SKL).


SHARE OWNERSHIP: 34,704 shares and 27,500 call options.


Marcus Karsten

President of Coor Finland since 2018.

BORN: 1966

EDUCATION: M.Sc. in Business Administration and Economics, Åbo Akademi University.

WORK EXPERIENCE:CEO Bravida Finland, CEO Lemminkäinen Talotekniikka, CEO Tekmanni Service, Head of Business Unit Siemens.

OTHER CURRENT DIRECTORSHIPS: Director of Oy Hedengren Ab and the Finnish Handball Association.

SHARE OWNERSHIP: 5,500 shares and 27,500 call options.


Jens Ebbe Rasmussen

Senior Vice President, Business Development & Sales since 2009.

BORN: 1968

EDUCATION: M.Sc. in Business Administration and Economics, Lund University. Finance, École supérieure de commerce de Paris. Cadet, Land Warfare Centre, Skövde.

WORK EXPERIENCE:Management Consultant, McKinsey & Company. Fixed Income Department, Unibank Markets (Nordea). Consultant/External Advisor, Fruktbudet.

SHARE OWNERSHIP: 61,213 shares.


Erik Strümpel

Chief Legal Counsel since 2006.

BORN: 1970

EDUCATION: LL.M., Lund University. IFL Executive Education, Stockholm School of Economics.

WORK EXPERIENCE: Solicitor, Linklaters Advokatbyrå. Judicial Clerk, Handen District Court.

SHARE OWNERSHIP: 8,250 shares and 27,500 call options.


Nikolai Utheim

President of Coor Norway since 2016.

BORN: 1975

EDUCATION: M.Sc. in Economics and Business with a major in Finance, Norwegian School of Management (BI) and Copenhagen Business School.

WORK EXPERIENCE: PwC (transaction-related work), Statoil Norge AS (Chief Controlling and Strategy Projects, Deputy CFO).

SHARE OWNERSHIP: 8,000 shares and 27,500 call options.


Jørgen Utzon

President of Coor Denmark since 2001.

BORN: 1961

EDUCATION: M.Sc. in Business Administration, Copenhagen Business School. Executive Program, International Institute for Management Development, Lausanne.

CEO, Strax Nordic, Logistics Manager and Service Director, Xerox Danmark. Various executive roles, Rockwool.

OTHER CURRENT DIRECTORSHIPS: Member of the Executive Committee of the Confederation of Danish Industry (DI), Chairman of the Danish Service Sector Employers’ Association (SBA) and Director of DI Service (Confederation of Danish Industry). Director of Nordomatic AB and Nordomatic A/S.

SHARE OWNERSHIP: 50,000 shares.


Rikard Wannerholt

Senior Vice President, Operations Development since 2013.

BORN: 1962

EDUCATION: M.Sc. in Economics and Business, Lund University. Advanced Management Program, Stockholm School of Economics. International Executive Program, IESE Business School, Navarra, Barcelona.

WORK EXPERIENCE: CEO, Sun Microsystems Sweden. President and CEO, Addici. Executive Vice President, EDB Business Partner.

SHARE OWNERSHIP: 22,746 shares and 27,500 call options.


Magdalena Öhrn

Communications Director since 2018.

BORN: 1966

EDUCATION: B.Sc. in Information Science, Uppsala University, and the Poppius School of Journalism.

WORK EXPERIENCE: Director of Communications, Ving, Head of Department, Account Manager and other roles at Prime PR, Project Manager, Rikta kommunikation, Public Relations Manager, TV3.

OTHER CURRENT DIRECTORSHIPS: Director of New Hope Reseindustrins Barnfond.

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