Swedish ocean energy developer Minesto has appointed a new chief financial officer (CFO) who will take over the role as of October.
According to Minesto , Alexander Jancke has a strong background in finance with experience spanning nearly ten years as a certified auditor and financial adviser at KPMG, in addition to his experience in the CFO capacity in developing tech company Griffeye Technologies AB.
Current CFO Gustav Kvibling will leave the position to pursue opportunities outside the company.
“We welcome Alexander on board. His solid background in both the core competence of managing finance and contributing to a broader business-driven management team is of significant value in our current phase of development,” said Martin Edlund , CEO of Minesto.
“Gustav has brought long-lasting value to the company with the implementation of tools and processes for efficient accounting and financial reporting, with special attention to project-related controlling, thus creating a platform fit for customer delivery projects. We wish him all the best in his new role .”
In mid-July it was reported that Minesto had finalized a reorganization process aimed at aligning the business for commercial rollout and reducing fixed costs. The changes include geographic consolidation, a trimmed management structure, and tighter product development integration, with a 35% reduction in fixed costs as a result.
The Swedish company then announced that the management team had been reduced from eight to six members.