Change at the top at Magnet
Preben Bager moves to UK business
Furniture group Nobia has appointed Preben Bager as the new business unit manager at UK kitchens retailer Magnet.
He replaces Gary Favell, who has resigned from Magnet. Bager is currently the unit manager at Nobia’s Danish HTH business, and a member of the group’s management team as vice president operations.
He assumes his position at Magnet with immediate effect, combining it with his role at HTH until further notice.
Fredrik Cappelen, president and CEO of Nobia, said: “I am very pleased that Preben Bager is assuming responsibility for Magnet. He has done a fantastic job at HTH and his experience from that company will be of great benefit for Magnet. I would also like to thank Gary Favell for his many years of service at Magnet.
“The strategy for Magnet remains unchanged. The work to upgrade the store network and improve the manufacturing platform continues while the pace of improving efficiency and margins will be accelerated.”
Nobia does not break down sales by country, but has announced organic sales growth of 11 per cent for both the third quarter and the first nine months of 2004. Net sales rose by 26 per cent to SEK 2,707m in the quarter and by 23 per cent to SEK 8,487m for the first nine months.
