Catena Media CEO departs amid transformation process
Per Hellberg leaves affiliate heavyweight after two and a half years as firm hires McKinsey & Company to improve operational efficiency
Catena Media CEO Per Hellberg has departed with immediate effect as the affiliate embarks on a strategic transformation process.
Hellberg served as CEO of Catena since June 2018, taking over from prior interim CEO Henrik Persson Ekdahl, who had replaced long standing CEO Robert Andersson in October 2017.
He will be replaced by Catena Media chairman Göran Blomberg on an interim basis while the firm looks for a permanent successor.
Blomberg has served on Catena’s board of directors since 2019, assuming the chairman role in May 2020. He will be tasked with steering the firm back to financial growth following a 6% drop in revenue during Q3.
The decline led to an immediate 14% drop in Catena’s share price in early trading in November.
“We are pleased to appoint Göran Blomberg as the new interim CEO of Catena Media,” said the firm in a statement. “Mr. Blomberg has solid experience and brings more than 30 years of managerial experience to the role in a public listed environment.
“This makes him a good fit with Catena Media for the transition period. The board also want to take this opportunity to thank Mr. Hellberg for his time with Catena Media.”
Catena Media has been on a consolidation and integration drive over the last two years, seeking to further integrate and expand its acquisitions into new markets. The firm has also expanded into the US and Japanese markets during this period.
In December, the affiliate heavyweight undertook two bond repurchases, with the aim of strengthening the company’s financial position. Catena has said it will now look to “refocus” on organic growth and strategic acquisitions.
In addition, Catena has recruited US-based global management consulting firm McKinsey & Company to undertake a transformation process aimed at improving operational efficiency within the business through an enhanced focus on business intelligence and AI-related initiatives.
Speaking about the recruitment of the new CEO, Blomberg said any prospective boss would be tasked with leading the firm through this transformation process.
Blomberg revealed Catena would look for an individual with “relevant professional experience and a track record of success” to build further profitable growth.
As part of this reshuffle, Blomberg will step aside from the chairman role, with current board member Öystein Engebretsen stepping up to the post of interim chairman.