CLS Holdings plc (LON:CLI) announced today that Lennart Sten is to become independent Non-Executive Chairman with effect from 14 August 2019, after the publication of the Group’s half-year results, following receipt of notice from Henry Klotz of his intention to retire as Executive Chairman and Director of the Company on that date. Mr Sten was appointed to the Board on 1 August 2014 and will continue to serve as a member of the Company’s Remuneration and Nomination Committees.
Sten Mortstedt, Founding Shareholder and Executive Director, said:
“Lennart has been an independent Non-Executive Director for five years and has extensive property and international public company experience. I am pleased that he has agreed to become independent Non-Executive Chairman, a role for which he is well suited. This change to our Board structure also reinforces our commitment to good corporate governance.
“Henry has dedicated much of his career to the Group, having joined in 1999, and has been a key part of our success. On behalf of the Board, I would like to thank Henry for his loyal service, leadership and wise counsel. We all wish him well in his retirement.”
Lennart Sten, Chairman elect, said:
“I look forward to working closely with the Board and executive team as we implement our strategy for long-term growth. I welcome this opportunity to continue to make a significant contribution to a very successful and well managed business.”