”During Magnus Nilsson’s nine year as CEO, Vitrolife has reached the three, early set, strategic objectives for the company’s fertility business; world leading production infrastructure, complete IVF product portfolio and global sales organisation, which has made the company world leading within the business of fertility treatment products,” says Vitrolife’s chairman Patrik Tigerschiöld. ”During Magnus’ management the stock value of Vitrolife has grown from approx SEK 150 million to almost SEK 900 million, an increase of 500%”. After 35 quarters in a row with sales growth and 33 with profit, whereof the last with record growth and record strong operating income, Magnus will now resign as CEO. ”After nine exciting and successful years in developing Vitrolife into a strong corporation and after have reached the strategic targets set up at the start of my tenure the timing seems right to now relay over to someone new” says Magnus Nilsson.
Magnus, who has a long experience with the field of organ transplantation, will now focus on leading Xvivo Perfusion AB, which will be a more independent operating unit within the Vitrolife Group. “The transplantation product area is now in an intensive and exciting development phase, with decisive clinical trials and market introductions. I see a large potential value in our transplantation business which we will work hard to realize” says Magnus.
”Magnus knowledge about the research and commercial experience within the field is extensive and he will, as soon as it is suitable, leave the Vitrolife Group responsibility to focus on developing the Transplantation product area to a therapeutically as well as a commercial success” says Patrik Tigerschiöld.
The recruitment of a new head of the Fertility product area, also Group CEO, will commence immediately.
Gothenburg, October 31, 2011
VITROLIFE AB (publ)
Patrik Tigerschiöld Magnus Nilsson
Chairman of the Board CEO
Queries should be addressed to:
Patrik Tigerschiöld, +46 8-614 00 22