The chief executive officer of Samhallsbyggnadsbolaget i Norden AB, Ilija Batljan, will step down from his role on June 5, according to a statement on Friday.
(Bloomberg) — The chief executive officer of Samhallsbyggnadsbolaget i Norden AB, Ilija Batljan, will step down from his role on June 5, according to a statement on Friday.
SBB has been at the center of a real estate crisis in Sweden ever since its debt was downgraded to junk status amid surging interest costs. The company’s $8 billion debt pile had unnerved investors and attracted the attention of short sellers. Its shares are down more than 90% since hitting a peak in 2021.
SBB’s has appointed Leiv Synnes as its new CEO, the board said. Synnes is currently working as the finance chief at another Swedish landlord, Akelius Residential Property AB.
“My faith in SBB is intact and I remain a member of the Board of Directors,” Batljan said.
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