The board of Novax and Niclas Palmstierna announced today that there will be a change in the CEO position as Niclas steps down. The background to this decision is an evolution of Novax’s strategy, which alters the role of CEO in a way that no longer aligns with the position Niclas was originally recruited for.
Camilla Wideroth, Chair of the Board at Novax and CFSO of Axel Johnson, commented:
"As the board, together with the Novax team, has developed the company’s strategy moving forward, we have reached a direction that reaffirms Novax’s mission to build new and diversified pillars for Axel Johnson. At the same time, it will gradually reshape our ways of working and our organization. In essence, this shift moves towards greater independence for the companies, a process that has already begun as they continue to grow.
This transformation changes the role of Novax’s CEO. When Niclas was recruited, the focus was on company-building within Novax. The task of leading Novax forward will now be different, with a stronger emphasis on investments. As a result, we have jointly concluded that this is not the role Niclas was originally brought in for. We are therefore parting ways amicably while initiating the recruitment of an external CEO with a distinct and hands-on investment focus.”
