Scandinavian Astor Group AB: Changes in management at Astor Group
Scandinavian Astor Group AB (publ) ("Astor Group" or "the Company") announces today that Wictor Billström will gradually step down from his current role as Chief Financial Officer. Wictor will remain with the Company as an acquisition advisor, where his experience and expertise will continue to contribute to the development of Astor Group. The Company has appointed Pål Jernhag as interim CFO, effective 1 March 2026, and has commenced the transition process. The recruitment process to find a permanent successor to the CFO role has been initiated.
"We would like to express our sincere gratitude to Wictor for his significant contributions to the company since 2022, first as a board member and then as CFO. We are also very pleased that Wictor will remain as an advisor and long-term owner of Astor Group. At the same time, we welcome Pål as interim CFO. He has a solid background in financial management and is the right person for the transition phase", says Mattias Hjorth, CEO of Astor Group.
"This is a personal decision based on my need to devote more time to my family. I will therefore be gradually stepping down from my role as CFO, but my commitment to Astor Group remains strong. I will remain as a long-term owner and return to working through my consulting and investment company. I look forward to continuing to contribute to the business as an advisor", says Wictor Billström.
The recruitment process to find a permanent successor to the CFO role has begun. While the recruitment process is ongoing, the Company has appointed Pål Jernhag as interim CFO from 1 March 2026, with a gradual transition from Wictor Billström. Pål Jernhag is a management consultant at ProXecutive Consultants and has been working with Astor Group since autumn 2025, supporting the finance department and company management. Pål has extensive experience as an auditor, CFO, and financial manager in listed companies. Pål has a degree in business administration from Linköping University. Astor Group's work, priorities, and daily operations will continue unchanged.
Scandinavian Astor Group - Strength and security in all elements
For additional information, please contact:
Scandinavian Astor Group CEO Mattias Hjorth
Phone: +46 8300 800
E-mail: ir@astorgroup.se
This information is information that Scandinavian Astor Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at the time specified by Astor Group's news distributor at the time of publication of this press release.
Please note that this is an English translation of a press release written in Swedish by Scandinavian Astor Group AB (publ), in the event of any inaccuracies, the Swedish version applies.
About Scandinavian Astor Group AB (publ)
Scandinavian Astor Group is a Swedish defense group shaping the future of security and protection. Through its three business areas - Astor Tech, Astor Industry and Astor Protect - the Group delivers advanced technology, high-quality components and critical security solutions to primarily the defense, industry and public safety sectors. Astor Group is listed on NGM Main Market (ticker: ASTOR) and Boerse Stuttgart. The Company is headquartered in Stockholm, Sweden. For more information about Astor Group's business, visit: www.astorgroup.se