MTG board shrinks as Livfors exits

Modern Times Group is to reduce the size of its board from seven to six following the departure of Mia Brunell Livfors.

She has declined re-election to take up a chief executive post at conglomerate Axel Johnson.

Livfors, who previously served as president and CEO of Investment AB Kinnevik and finance director at MTG, is also not seeking re-election to the boards of Transcom, Tele2 and Qliro Group.

MTG’s nomination committee has now proposed the re-election of David Chance – who has also been proposed for re-election as chairman – Simon Duffy, Michelle Guthrie and Alexander Izosimov as board members, and the election of Joakim Andersson and Bart Swanson as new board members.

The new board will be confirmed at the company’s annual general meeting on May 19.