Humble Group AB (HUMBLE.ST) Thursday said that its Board of Directors have named Noel Abdayem as acting Chief Executive Officer or CEO, effective immediately. This follows the departure of Simon Petrén, after holding consultations with the Board. The company added that the Board has also began the process of searching for a new CEO. The personal care products company said that while Simon Petrén will remain available in an advisory role for a period of time, Noel Abdayem will resign from his position on the company's Board of Directors, with immediate effect.
Commenting on the developments, Dajana Mirborn, Chair of the Board of Humble Group, said, "Under Simon Petrén's leadership, the Group has built a solid foundation for continued development through strong organic growth and acquisitions. The Board would like to express its sincere gratitude to Simon, whose leadership has been instrumental in building the company. As the company now enters a new phase with a focus on efficiency and profitability, we have jointly concluded that new leadership is in the best interests of the company. We have high expectations for the initiatives now being implemented, and Noel Abdayem, as founder of The Humble Co. and member of the board, has relevant experience of Humble Group and its operations."
Humble Group said that it will release the interim report of its third quarter on October 24.
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