Stegra appoints Hakan Buskhe as CEO from Nov 1 and seeks more capital
Stegra said Hakan Buskhe will replace Henrik Henriksson as CEO from November 1, while Henriksson will stay as adviser. The company said a review found higher-than-assumed completion costs and that it has started talks with its largest shareholders on securing additional capital to complete its steel plant project.
(Adds quote, detail in paragraphs 3-5) COPENHAGEN, Sept 30 (Reuters) — Swedish green steel startup Stegra said on Wednesday it has decided to appoint Hakan Buskhe as its new CEO as of November 1, to replace Henrik Henriksson who will remain with the company as an adviser. A review of the company conducted in the last 100 days shows that additional capital is required to complete the steel plant project, as the estimated costs of completing it are significantly higher than assumed in June, Stegra said. Stegra said it has initiated a dialogue with its largest shareholders on the way forward.
"They have expressed a positive view on taking part in the work to secure the capital required to complete the project," the company said in a statement. "The dialogue with shareholders, financiers, partners and other stakeholders continues at high intensity, and the company will provide further information as soon as it is available," it added. com; +45 21 27 97 79;)