Braathen, BRA, Scandic, management, board, appoint, sorensen, Fiskers, finance, revenue

Scandic proposes Per G Braathen as chairman

The company will vote on the prominent Nordic travel personality at the upcoming Annual General Meeting.

Scandic Hotels Group has put forward Nordic aviation personality Per G Braathen as its new chairman of the board of directors and Frank Fiskers as a new member of the board.

The company’s nomination committee made the announcement today, saying it would propose the changes at the Annual General Meeting to be held on April 26.

The news comes a week after the committee received notice that Vagn Sørensen would stand down as chairman and member of the board from the coming Annual General Meeting.

This was explained as being due to time constraints from a number of other international board appointments, though it also comes amid some financial difficulties.

Travel experience
Braathen, born in 1960, has been a member of the Scandic Hotels board since 2007 and is currently its vice chairman and a member of the company’s remuneration committee.

“Per has a good understanding of Scandic and he has been instrumental for Scandic’s development during his time as a member of the board,” says Joel Lindeman, chairman of the nomination committee.

“This, combined with his great experience from the travel industry as chairman at companies including Braganza AB and the airline BRA (Braathens Airline) make him suitable as chairman of the board at Scandic.”

Frank Fiskers, born in 1961, was president and CEO of Scandic from 2013 until July 2017 as well as between 2007 and 2010, in addition to being a member of Scandic’s board of directors from 2010 to 2012.

New investor
In related news, wealthy Norwegian businessman Trygve Hegnar, who owns the financial newspaper Finansavisen, has spent about half a billion kroner to become Scandic Hotels’ third largest owner, buying 5% of the company.

“I am of course interested in the hotel industry, and have followed Scandic Hotels for close to half a year,” he tells Finansavisen. “The fall in prices by 30% this year came conveniently and got me started.”

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