Jens Tommerup leaves the board to take a more operational role in the company’s newly established advisory group

SeaTwirl AB (publ), corp. reg. no. 556890-1135 (“The Company”), announces that the chair of the board, Jens Tommerup, has been engaged to support the operational side of the company’s business as well as the technology development, and thus wishes to leave his board position. Jens will be thanked for his service as chair at tomorrow’s Extraordinary General Meeting.

The reason that Jens’ involvement in SeaTwirl shifts to an operational role is his own desire to work more on developing SeaTwirl and its relationship with key external partners.

“The best way for me to support the company’s development is to take a more operational role where I can devote myself wholeheartedly to strategy and business development. As chair, much of my time was spent on formal responsibilities and tasks”, says Jens Tommerup.

Formation of an advisory group

The board has established an advisory group, which reports to the board. The advisory group shall assist management and the board with defined tasks. The members of the advisory group will have specific knowledge needed to ensure SeaTwirl’s success and devote the needed time to specific tasks.

While Jens will now be more accessible to support the company’s operational work, the board has also engaged Roger Cederberg, who was Jens’ predecessor as chair, in a similar way.

The advisory group will initially consist of Jens Tommerup and Roger Cederberg, both former chairs of SeaTwirl. They have good insight into the company and stand for continuity. Both can devote time contributing operationally to the company’s development and success. Both have also expressed a desire to participate in the company’s option program in the future.

“I said when I left as chair that SeaTwirl is one of the most exciting renewable energy companies in the world. I still think so and I look forward to continue contributing to the company’s development”, says Roger Cederberg.

The board’s plan is to engage more advisors in the future and the work of identifying relevant key people is ongoing.

In order to strengthen the board, it is proposed that shareholder GU Venture’s CEO and Financial Profile of the Year Klementina Österberg, as well as the entrepreneur Dan Friberg, are elected as new board members at the EGM on Wednesday, April 8. It is also proposed that the main shareholder Knut Claesson is elected as an alternate.

The Board then plans to appoint Klementina Österberg as chair in Jens’ place, while Peter Laurits remains vice chair. The reason for the board’s intention is Klementina’s experience with both being chair and working with listed companies and their capital raising processes.

VD Peter Schou comments:

”It will be a pleasure to have Jens in an operational role in the team and in the newly formed advisory group with Roger. We appreciate to be able get more of their valuable time, competences and contacts, while I also look forward to working with our new board and chair Klementina. Both Jens and I have an extensive network of contacts spanning both suppliers and operators in Asia and elsewhere, which is important for building the company, while we need the expertise of the board members for the board and strategy work.”