Management reshuffle at Raketech as new CFO appointed

1 October 2019

Raketech Group has appointed Måns Svalborn as its new chief financial officer after Andreas Kovacs stepped aside from the role to take up the position as director of business development at the performance marketing specialist.

Under the arrangement, Svalborn will join Raketech on November 11 and initially work with Kovacs to ensure a smooth transition into the CFO role.

Svalborn currently serves as CFO at Maltese bank Credorax Bank, where he is part of the executive management team and is responsible for financial control and financial operations.

Prior to this, he spent time as head of group regulatory financial reporting at Nordea, as well as group finance manager at Öhman Group and senior auditor at EY.

Kovacs has served as CFO of Raketech since before its listing on the Nasdaq First North Premier Growth Market in June 2018. During his time in the role, he led efforts to optimise Raketech’s capital structure while also playing an role in M&A and market expansion.

In his new position as director of business development, Kovacs will fully focus on the execution of Raketech’s ongoing growth strategy, which includes the recent acquisition of Casumba Media.

Kovacs will also remain on the executive management team and continue to report to chief executive Michael Holmberg.

“As CFO, my assignment was to prepare the company for the IPO and since then I have gradually focused more on Raketech’s growth strategy and expansion work,” Kovacs said. “This has become something of a passion, and I am happy to now be able to fully focus on this important task as director of business development.”

Holmberg added: “Måns is a highly skilled finance professional with relevant experience across reporting, accounting and audit which will be valuable in the continued development of our finance department.

“Andreas has played an instrumental role in professionalising our finance department and built the foundation for our public disclosure as a listed company, while at the same time optimising the capital structure and working hard with potential M&A cases.

“All in all, with Måns as new our CFO and Andreas as director of business development, I am confident that we are in a great position to continue building long-term shareholder value.”