Silvan boss dismissed after loss of millions

Reports in the Danish business newspaper Børsen state that the DIY store group Silvan is replacing its CEO Jesper Lien. It is said that his position will be shared between two heads. Expressly mentioned are commercial director Morten Juel as well as the German Jan Becker, partner of the private equity fund Aurelius which Silvan has belonged to since 2017. The report states that Lien will, however, remain a member of the board of directors and Aurelius partner. The background, according to the report, is a double-digit loss of millions in the year 2018. There is talk of a minus of DKK 45 mio (EUR 6 mio). A shortfall of a double-digit amount is also expected for the current year 2019, writes the newspaper Finans.