HELLERUP, Denmark, May 25, 2011 /PRNewswire/ --
- In a Board Meeting Held Today the Board of Directors in Euroinvestor.com A/S Decided to Strengthen the Management of the Company by Appointing a New CEO of Euroinvestor.com
- Strengthening the Management in Euroinvestor.com A/S
In a Board meeting today the Board of Directors in Euroinvestor decided to strengthen the management of the company by appointing Jeff Saul as new CEO in Euroinvestor.com A/S. Jeff Saul will take up this new position on 15 June 2011.
Since February 2009, Jeff Saul has been Head of Group Equities in Saxo Bank A/S and in March 2009 became a member of the Board of Directors in Euroinvestor.com A/S, and thus has a thorough knowledge of both Euroinvestor and Saxo Bank. Amongst others, Jeff has been responsible for Saxo Bank's investment in Euroinvestor.com A/S and for the development of Saxo Bank's recently launched and strongly improved platform for equity trading and equity analysis. He also drove the development of "MSN Trader powered by Saxo Bank" in association with Microsoft. Jeff Saul has worked in the financial sector since 1986 focusing on equities, thereof seven years in London.
The Board of Directors expects that the appointment of Jeff Saul will strengthen the Company's international strategy by building a global network of investors and growing the possibilities for expanding Euroinvestor's activities on a global level, through partnerships as well as through independent outlets.
It is the goal to both sustain and expand Euroinvestor's position as the leading investor portal in the Danish market. This will be realized through a strong cooperation with the users who focus on operational reliability, tools and services.
The Board of Directors is convinced that a closer cooperation with Saxo Bank will accelerate Euroinvestor's completion of its international growth strategy as well as faster product development. With the new appointment, Euroinvestor will benefit from Saxo Bank's experience with an international growth strategy as well as from its international platform, offering clients the possibility of trading equities and other asset classes on 23 exchanges in the world, serving clients in more than 160 countries.
The current CEO Jens Alminde will continue his engagement in the Company and will focus on further developing the Danish business, including the Company's 50.2% stake in subsidiary Boliga A/S.
It is expected that within the next few days the company will summon an extraordinary general meeting where the new majority shareholder of the company, Saxo Bank will nominate new candidates strengthening the Board of Directors of the Company.
Saxo Bank announced on 4 April that they had increased their ownership in Euroinvestor from 40% to 69% and they have therefore presented a takeover offer for the remaining part of the share capital at a price of DKK 15 per share. The offer expires on 30 May 2011. Reference is made to "Tilbudsdokument af 2. maj" for further details about the takeover offer as well as Saxo Banks intentions with Euroinvestor.com A/S.
Chairman of the Board Soren Alminde says; "I view the appointment of Jeff Saul as the right move in terms of strengthening the implementation of the company's international strategy. There are significant synergies in the collaboration between the Company and Saxo Bank on a global level and with Jeff Saul as new CEO we expect to be able to maximize and accelerate the cooperation and the growth of the company benefitting all shareholders. That we have been able to attract Saxo Bank's global Head of Group Equities shows that Saxo Bank are serious when they say they will transform Euroinvestor.com to a global leading investor portal. As founders of Euroinvestor this has always been dream of both me and my brother and that is why we continue to own 22% of the Company."
Jeff Saul says; "I am looking forward to take on the role as CEO of Euroinvestor.com A/S as I see significant global opportunities for growth in the company. In my present position at Saxo Bank I have contact with other media companies and financial corporations in the world. This is at the core of Saxo Bank's business model and I expect Euroinvestor.com to benefit from this network."
Euroinvestor is among the leading investor portals in Scandinavia. Euroinvestor owns and run investor portals in Denmark, Norway, Sweden, France, the Netherlands, Italy, Spain and the UK. Additionally Euroinvestor owns 50.2% of Boliga which is the largest portal for real estate in Scandinavia.
SOURCE Saxo Bank