Heating technology group Nibe has faced multi-year difficulties in recruiting a new CEO for Nibe AB, a sales and production unit within its Climate Solutions business area, due to a requirement that the candidate reside in Markaryd, Dagens industri reports.
According to sources, the relocation mandate is deterring potential candidates, and current CEO Gerteric Lindquist (who also serves as Group CEO) has reportedly even purchased a house intended for his successor.
While the company states the search for a successor has been underway for 1.5 years, sources told Dagens industri that the process has actually been ongoing for three years.
"It is correct that we are seeking a CEO for Nibe AB. The reason for the delay is that we had an unfortunate withdrawal late in the process, after which we had to start over," wrote Nibe CFO Hans Backman, currently acting as spokesperson, in an emailed response.
Nibe AB reported revenues of 4.8 billion kronor in 2024, down from 8.5 billion kronor the previous year.
NIBE Industrier AB is a leading company specializing in the manufacturing and marketing of heating systems and products in Europe. Net sales (including intragroup) break down by family of products as follows:
- heating and air-conditioning systems (63%): heat pumps, air conditioning systems, solar heating systems, household boilers, water heaters, cooling equipment, ventilation systems, solar panels, etc.;
- components and solutions for heating control and metering (27.2%);
- wood stoves (9.8%).
Net sales are distributed geographically as follows: Nordic countries (18.5%), Europe (44%), North America (31.1%) and other (6.4%).
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