Board of Directors and Management
Board of Directors
Pierre Fors, Chairman of the Board
Pierre Fors, born 1963, Board member since 2015, Chairman of the Board since 2020. Former President and CEO of Alcadon Group AB 2001–2019. Pierre holds a degree from the EMI (Executive Management Institute) at the Stockholm School of Economics and was employed by Alcadon between 1993 and 2019. Pierre has a background in various roles within the IT and telecoms sector, including Telia.
Other board assignments: Chairman of the Board of Paseca AB.
Independent in relation to the company’s major shareholders.
Dependent in relation to the company and its management..
Shareholding: 120 000 shares
Other holdings: –
Jonas Mårtensson, Vice Chairman of the Board
Jonas Mårtensson, born 1963, member since 2015, Chairman of the Board between 2016-2019, M.Sc. in Economics from the Stockholm School of Economics. Working partner at Alted AB since 2006. Prior to this, Jonas worked for 17 years at various investment banks (SEB Enskilda, Maizels, Westerberg & Co and Nordea), as an advisor in mergers and acquisitions, fund raising and IPOs.
Other board assignments: Chairman of the Board of OPP Owner AB and Beata Intressenter AB, and board member of DO Intressenter AB, JNM Invest AB, Niutech Group AB and Alted AB.
Independent in relation to the company, its management and its major shareholders.
Shareholding: 208 092 shares
Other holdings: –
Marie Ygge, Member
Marie Ygge, born 1958, member since 2019. M.Sc in Engineering from the Royal Institute of Technology. Marie has extensive experience in senior management positions within the IT industry at both Microsoft and IBM, where she was responsible in Sweden for sales to the public sector, large enterprises and small and medium-sized businesses.
Marie’s most recent role was as Head of Business Development for the public sector at Microsoft EMEA from 2014 to 2017. Marie currently runs her own consultancy business.
Other board assignments: Board member of TCO Utveckling AB and TagMaster AB.
Independent in relation to the company, its management and its major shareholders.
Shareholding: 5 000 shares
Other holdings: –
Lars Engström, Member
Lars Engström, born 1963, member since 2020. M.Sc.in Engineering from Linköping University. Former Head of Business Area Mining and Rock Technology at Sandvik 2016–2019, Head of Sandvik Mining 2015–2016 and prior to that Acting President and CEO of BE Group 2014–2015. Lars was also President and CEO of Munters AB from 2006 to 2014 and, prior to that, held a number of senior positions at Atlas Copco and Seco Tools.
Other board assignments: Board member of Normet Group Oy, Kalmar Oyj (publ) and FL Smidth (publ).
Independent in relation to the company, its management and its major shareholders.
Shareholding: 13 000 shares
Other holdings: –
Mikael Vaezi, Member
Mikael Vaezi, born in 1980, board member since 2024. M.Sc. in Economics from Lund University. Investment manager at Spiltan Invest since 2016. Previously investment manager and portfolio manager at Varenne, SDIP (now Sdiptech) and Dunross & Co.
Other board assignments: Board member of Teqnion AB, Hyttbäcken Invest AB and Sogdiana Invest AB.
Dependent in relation to the company’s major shareholders but independent in relation to the company and its management.
Shareholding: 28 000 shares
Other holdings: –
Group Management
Fredrik Valentin, President and CEO
Fredrik Valentin, born 1974, President and CEO of Alcadon Group since 2025. MSc in Engineering from the Royal Institute of Technology. Previously Head of the Safety Technology Division at Bergman & Beving 2018–2024, President and CEO of Skydda Group 2016–2019, and CEO of Stena Recycling in Poland 2010–2015. Prior to that, management consultant at Accenture 2000–2009.
As CEO of Alcadon Group, Fredrik is also Chairman of the Board of the Group’s portfolio companies.
Other board appointments: Board member of Valentin IDP AB
Shareholding: 120 000 shares
Other holdings: 300 000 warrants
Adam Jonsson, Group CFO
Adam Jonsson, born 1992, Group CFO since 2026. Bachelor’s degree in Business Administration from Lander University. Former CFO of Remman Mobility Group 2024–2026, prior to that CFO of Speqta (publ) 2020–2024 and CFO of Enlabs (publ) 2019–2020. Adam also has a background at PwC.
Board member of the Group’s portfolio companies.
Shareholding: 10 000 shares
Other holdings: 36 000 warrants
Responsible for the Alcadon Group portfolio companies
James Reid, CEO Networks Centre Group
James Reid, Born in 1973, responsible for the Networks Centre Group and its subsidiaries in England, Scotland and the Netherlands since 2022. Studied music at Brunel University; holds RCDD & CDCDP industry credentials. James was previously Sales Director at Networks Centre Ltd from 2013, and prior to that he worked as Strategic Account Manager at Panduit for 9 years.
Shareholding: 202 621 shares
Other holdings: 10 000 warrants
Magnus Larsson, CEO Alcadon Sweden
Magnus Larsson, born 1970, CEO of Alcadon AB since 2023. Studied Business Administration at Lund University. Previously Sales Manager at Alcadon AB and prior to that, Magnus held several senior sales positions within the Siemens Group, including Head of KAM and Customer Development at Siemens Smart Infrastructure in Sweden. Magnus has also previously held similar roles within the property and construction market and the media industry, and has worked as a consultant in sales management and strategy development.
Shareholding: 20 000 shares
Other holdings: 24 500 warrants
Inge Dahl, CEO Alcadon Norway
Inge Dahl, born 1970, CEO of Alcadon Norway since 2025. Holds a degree in electronics and telecommunications from Oslo College of Engineering and a Master of Management from BI Norwegian Business School. Inge has held senior management positions in international companies within IT infrastructure and communications and networking solutions, including Alcatel-Lucent Enterprise, Ingram Micro and HPE Aruba Networks.
Prior to this, Inge worked in business development, sales and partnerships within the technology and infrastructure sector.
Shareholding: 6 060 shares
Other holdings: 15 000 warrants
André Radley Grundahl, CEO Alcadon Denmark
André Radley Grundahl, born 1971, CEO of Alcadon Denmark since 2025. Holds a Bachelor’s degree in Business Administration from Niels Brock Copenhagen Business College and has completed the Leadership Academy at SDA Bocconi University in Milan. Former CEO of ETK EMS, a leading provider of electronics manufacturing services, and prior to that, Group CEO of Hengst Filtration. André has extensive experience in sales and leadership roles within the automotive, filtration and electronics industries.
Shareholding: 1 000 shares
Other holdings: 10 000 warrants
Keith Mahony, CEO Wood Communication
Keith Mahony, born 1974, CEO of Wood Communications since 2005. Studied Business Administration at UCC and Hotel Management at Cert Ireland. Qualified estate agent (IPAV) through the Technological University of Dublin (TUD). Joined Wood Communications in 1997.
Shareholding: 564 355 shares
Other holdings:
Piet den Ouden, CEO Alcadon Belgium
Piet den Ouden, born 1966, CEO of Alcadon Belgium since 2025. Studied electrical engineering at Eindhoven University of Technology. Formerly Sales Director for Benelux at Alcadon. Piet has extensive experience in the network infrastructure sector, including roles at Alcatel Lucent and Sterlite Technologies.
Shareholding: 1 308 shares
Other holdings: 14 700 warrants
Governance
Alcadon Group AB is a Swedish publicly listed company governed by Swedish law. The corporate governance is based on Swedish legislation, primarily the Swedish Companies Act, the agreement with the First North marketplace and other applicable regulations.
As Alcadon Group AB is not listed on a regulated market, the Swedish Code of Corporate Governance does not apply to the company. Nevertheless, Alcadon Group AB’s corporate governance is to a great extent inspired by the code.
Alcadon Group’s corporate bodies comprise the General Meeting of Shareholders, the Board of Directors, the Group CEO and the auditors. At the Annual General Meeting, the shareholders elect a Board of Directors and its Chairman. The Board of Directors appoints the Group CEO and approves Group Management members. The Annual General Meeting commissions the auditors to examine the financial statements and the management of the Board of Directors and the Group CEO during the financial year.
Annual General Meetings
The Annual General Meeting (AGM is Alcadon Group’s highest decision-making body) shall be held within 6 months after the end of the financial year. At the AGM the income statement and balance sheet are adopted, decisions are made regarding dividends, the Board of Directors and, where applicable, auditors are elected, fees are determined, and other statutory matters are addressed.
Nomination Committee
The company’s corporate governance work is largely inspired by the Swedish Code of Corporate Governance. The Nomination Committee therefore proposes that the General Meeting resolves to establish a Nomination Committee in accordance with the following principles:
The Chairman of the Board shall convene annually, no later than 15 October, the three largest shareholders or owners representing the three largest ownership groups in the Company, who shall then be entitled to appoint one member each to the Nomination Committee. If one of the three largest shareholders or groups of shareholders waives its right to appoint a member to the Nomination Committee, the next largest shareholder or group of shareholders shall be given the opportunity to appoint a member to the Nomination Committee until the tenth largest shareholder/group of shareholders and all shareholders/groups of shareholders representing more than 5% of the Company’s shares have been consulted.
If fewer than three members could be recruited through this procedure, the Nomination Committee may consist of at least two persons. In addition, the Chairman of the Board shall be appointed to the Nomination Committee.
The Chief Executive Officer or any other member of Group Management shall not be a member of the Nomination Committee. The Chairman of the Board shall convene the first meeting of the Nomination Committee. A shareholder representative shall be appointed as Chairman of the nomination committee.
The term of office of the Nomination Committee shall be until a new Nomination Committee has been appointed. The composition of the Nomination Committee shall be made public no later than six months before each Annual General Meeting. As regards board evaluations, they shall be chaired by the chairman of the nomination committee. The Chairman of the Board shall not participate, as he is part of the evaluation.
The Nomination Committee shall be constituted annually on the basis of the known shareholding in the Company as per 31 August. If there are significant changes in the ownership structure after the Nomination Committee has been constituted, the composition of the Nomination Committee may also be changed in accordance with the above principles, or the Chairman of the Nomination Committee may propose additions to the Nomination Committee. Changes in the Nomination Committee shall be announced immediately.
The Nomination Committee shall prepare and submit to the AGM proposals for the election of the Chairman of the Board and other members of the Board of Directors of the Company, the remuneration of the Board divided between the Chairman and other members and any remuneration for committee work, the election and remuneration of the auditor, a decision on the principles for the appointment of the Nomination Committee and a proposal for the Chairman of the AGM.
No fees shall be paid to members of the Nomination Committee. The Nomination Committee shall be entitled, subject to the approval of the Chairman of the Board of Directors, to charge the Company with costs such as recruitment consultants and travel expenses or other costs required for the Nomination Committee to fulfil its mandate. The above principles for the mandate of the Nomination Committee and the appointment and functioning of the Nomination Committee are proposed to apply annually until the General Meeting decides to change them.
Auditors and Certified Adviser
Auditors
Authorised public accountant Ida Sparrfeldt at Grant Thornton Sweden AB is the company’s responsible auditor until the next Annual General Meeting.
Grant Thornton Sweden AB
Visiting address: Kungsgatan 57, 111 22 Stockholm
Phone: +46 8-563 700 00
Email: info@se.gt.com
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Fähusgatan 5, 603 72 Norrköping
Phone: +46 8 913008
Email: ca@skmg.se
Articles of Association
ARTICLES OF ASSOCIATION FOR ALCADON GROUP AB (PUBL) (559009-2382)
1. Company Name
The company’s name is Alcadon Group AB. The company is public (publ).
2. Registered Office
The Board of Directors shall have its registered office in the Municipality of Stockholm, Stockholm County.
3. Business Activities
The company shall own and manage shares in subsidiaries and associated companies, as well as conduct other activities compatible therewith.
4. Share Capital
The share capital shall be not less than SEK 500,000 and not more than SEK 2,000,000.
5. Number of Shares
The number of shares shall be not less than 12,000,000 and not more than 48,000,000.
6. Board of Directors and Auditor
6.1 The Board of Directors shall consist of 3–10 members with no more than 5 deputy members.
6.2 For the audit of the company’s annual report and accounts, as well as the administration of the Board of Directors and the CEO, the Annual General Meeting shall appoint not less than one and not more than two auditors, with no more than two deputy auditors.
7. Notice of General Meeting
7.1 Notice of a General Meeting shall be given by announcement in the Swedish Official Gazette (Post- och Inrikes Tidningar) and on the company’s website. An announcement that notice has been issued shall be published in Svenska Dagbladet.
7.2 Notice of an Annual General Meeting and notice of an Extraordinary General Meeting at which an amendment to the Articles of Association will be addressed shall be issued no earlier than six weeks and no later than four weeks before the meeting. Notice of any other Extraordinary General Meeting shall be issued no earlier than six weeks and no later than two weeks before the meeting.
8. Notification of Shareholder and Assistant Participation at General Meeting
A shareholder wishing to participate in the proceedings at a General Meeting must notify the company no later than the date specified in the notice of the meeting. This date may not be a Sunday, public holiday, Saturday, Midsummer’s Eve, Christmas Eve, or New Year’s Eve, and may not fall earlier than the fifth weekday before the meeting. A shareholder may bring one or two assistants to the General Meeting, provided that the shareholder notifies the company of the number of assistants in the manner stated in the preceding paragraph.
9. Other Provisions for General Meetings
9.1 The Board of Directors may collect proxies in accordance with the procedure set out in Chapter 7, Section 4, second paragraph of the Swedish Companies Act (2005:551).
9.2 The Board of Directors may, prior to a General Meeting, decide that shareholders shall be able to exercise their voting rights by post before the meeting.
9.3 The Board of Directors may decide that a person who is not a shareholder shall, on terms determined by the Board, have the right to attend or otherwise follow the proceedings at a General Meeting.
10. Opening of the Meeting
The Chair of the Board of Directors, or a person appointed by the Board, shall open the General Meeting and preside over the proceedings until a Chairman of the Meeting has been elected.
11. Annual General Meeting
11.1 The Annual General Meeting shall be held annually within six months after the end of the financial year.
11.2 The following business shall be addressed at the Annual General Meeting:
- election of the Chair of the Meeting,
- preparation and approval of the voting list,
- approval of the agenda,
- election of one or two persons to verify the minutes,
- determination of whether the meeting has been duly convened,
- presentation of the annual report and the auditor’s report, and, where applicable, the consolidated financial statements and the auditor’s report for the group,
- resolutions on a. adoption of the income statement and balance sheet, and, where applicable, the consolidated income statement and consolidated balance sheet, b. allocation of profit or loss in accordance with the adopted balance sheet, and c. discharge from liability for the Board members and the CEO, where applicable,
- determination of fees for the Board of Directors and the auditors,
- election of the Board of Directors and audit firm or auditors, and any deputy auditors,
- any other business that is to be addressed at the meeting pursuant to the Swedish Companies Act or the Articles of Association.
12. Financial Year
The company’s financial year shall be 0101–1231.
13. Record Day Provision
A shareholder or nominee who on the record date is entered in the share register and recorded in a record register pursuant to Chapter 4 of the Swedish Central Securities Depositories and Financial Instruments Accounts Act (1998:1479), or who is recorded on a record account pursuant to Chapter 4, Section 18, first paragraph, items 6–8 of the said Act, shall be deemed entitled to exercise the rights set out in Chapter 4, Section 39 of the Swedish Companies Act (2005:551).
The Articles of Association were adopted at the General Meeting on 23 April 2021.
