The Board of Directors of XXL ASA ("XXL" or the "Company", OSE ticker XXL) has resolved to appoint Pål Wibe to the position as Group CEO of XXL.
“We are very happy that Pål has decided to take on the role as CEO in XXL. Pål has a solid background and track record in retail, and he is strong analytically and an inspirational team leader. We believe he is the right leader to help turn around the recent negative development in XXL. It will be a team effort, and Pål will have many great people in XXL to help him, and he does, of course, have the full support of the board", says Hugo Maurstad, Chairman of the Board of Directors of XXL.
Mr. Wibe is currently the chief executive officer of Europris ASA, a position he has held since March 2014. Prior to his appointment as CEO of Europris ASA, he served as CEO of Nille AS for nearly seven years and CEO of Travel Retail Norway AS for two years. Mr. Wibe has also held various managerial positions in ICA Ahold AB for six years and worked five years in McKinsey & co. Mr. Wibe holds a Master of Business and Administration (Nw. Siviløkonom) from the Norwegian School of Business and Administration (NHH) and an MBA from the University of California, Berkeley. Mr. Wibe is a Norwegian citizen and resides in Norway.
"I am honored and excited to join a team of more than 5000 dedicated and engaged XXL employees. I have always been impressed by XXL and what the company has achieved so far. I see great potential in XXL’s market position going forward, and I am confident that XXL has what it takes to being the best sport retailer in Europe", says Pål Wibe.
Tolle Grøterud, who has served as interim CEO since 18 December 2018, will continue as Investor Relations and Strategy Director in XXL.
“Tolle has done a great job as interim CEO since December 2018, and we are very happy that he will continue as an important member of the XXL leadership team, taking on the responsibility for Strategy, Investor relations and Sustainability when Pål take over as CEO”, says Hugo Maurstad.
Board member and founder Øivind Tidemandsen will resume his position as a regular board member and he will serve as an advisor to the management team when and where needed.
For further information, please contact:
Press contact Norway
Marte Ramuz Eriksen
E-mail: presse@xxl.no
Phone: +47 952 21 425
Press contact Sweden and International
Anders Andrén
E- mail: press@xxl.se
Phone: +46 76-133 99 40
Investor Relations
Tolle Grøterud
E-mail: ir@xxlasa.xom
Phone +47 90 27 29 59
About XXL ASA
XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. It is the largest among the major sports retailers in the Nordics. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.