SWEDEN - After nine years as CEO of Nobia, one of Europe’s largest kitchen specialists, Morten Falkenberg is stepping down from his position at the company.

Morten Falkenberg, who is a Board member of the companies Velux Group and Fagerhult, will transition into new roles including industrial advisor for Nobia’s largest owner, Nordstjernan. Jon Sintorn, who most recently served as President and CEO of Permobil, will succeed Morten Falkenberg at the latest on September 1, 2019.

Over the past decade, Nobia has demonstrated a positive development with a strengthened balance sheet and an increasing operating margin, rising from about 2 percent to about 10 percent. Today, Nobia manufactures and sell kitchens in seven European countries through its own stores as well as through franchise stores and retailers.

“I am very pleased to have had the opportunity to lead Nobia for nearly a decade, with the improved results I have been able to achieve together with all of Nobia’s employees. Nobia is a stronger company today with better margins, a simplified structure and a business that is once again delivering annual dividends to its shareholders. It feels like the right time to step down,” says Nobia’s outgoing CEO Morten Falkenberg.

“I am very impressed by Nobia’s strong brand and the position the company holds throughout the value chain. Given my previous experience, I look forward with great enthusiasm and humility to the challenge of working with a company that delivers products and services to both companies and consumers. Together with the employees, I see great potential to develop the company by making use of new channels to the market and by continuing to improve the production structure and, not least, by capitalizing on the new opportunities that digitalization presents,” says incoming CEO Jon Sintorn.

Nobia is Europe’s leading kitchen specialist with some fifteen strong brands. The operation consists of developing, manufacturing and sales of kitchen solutions. Every week, it manufactures more than 140,000 cabinets and meet more than 60,000 consumers in its stores. Nobia has approximately 6,300 employees and net sales of about SEK 13 billion (EUR 1.2 billion) a year.