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Peter Kjellberg leaves his position as CEO of CDON

The Board of Directors of CDON AB (publ) ("CDON" or "the company") has today mutually agreed with Peter Kjellberg that he will leave his position as the CEO (Chief Executive Officer) of the company on 1 January 2023. Peter will remain in a consultancy role until 1 February 2023 to finalize the re-branding of CDON (CDON 2.0). The Board has decided to appoint Thomas Pehrsson, currently CFO, as the acting CEO of CDON effective from 1 January 2023. The recruitment process to find a new permanent CEO will commence immediately.

Peter Kjellberg joined CDON in January 2022 and has successfully rebuilt the organization and led the rebranding of the company to match the company's focus on 3P marketplaces. In 2023, the company will transition to focus to core commercial operations and profitability.

"I am proud of the organization we created at CDON and pleased with our progress towards repositioning the company. With the contemplated launch of the CDON 2.0 in early 2023, this repositioning is largely going to be complete. As the company transitions towards a greater focus on near-term commercial objectives, I am confident that Thomas will continue CDON's progress", commented Kjellberg.

Thomas Pehrsson will help the company drive towards its earlier disclosed FY 2023 target of at least EBITDA breakeven[1] while continuing to develop CDON's long-term growth vision. 

"Due to his deep knowledge of CDON's operations, we are excited for Thomas's efforts to achieve the EBITDA breakeven target while maintaining CDON's focus on our key commercial engines and our earlier communicated mid-term market share target[2]," said Josephine Salenstedt, CDON's Chair of the Board of Directors.

"We would like to thank Peter for his significant contributions to CDON in 2022.  Peter created a brand vision and platform that will provide the foundation for CDON's long-term success and built an organization to help execute on that vision. We wish him well in his future endeavors," continued Ms. Salenstedt.

Peter Kjellberg will be at the disposal of the Board during his notice period.

[1] FY 2023 Target:

CDON's business shall be at least EBITDA breakeven in FY 2023 - unless:

  • CDON's finds growth investment opportunities where CDON believes the IRR (Internal Rate of Return) significantly exceeds CDON's cost of capital;
  • the macro environment undergoes further material deterioration from the low levels expected in Q4 2022.

[2] Mid-Term Market Share Target:

CDON to achieve at least 2.5 % market share by the end of FY 2025 from currently estimated approximately 1 %.

For further information, please contact:
Peter Kjellberg, CEO
E-mail: [email protected]

Thomas Pehrsson, CFO
E-mail: [email protected]

This information is information that CDON is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 7 December 2022, at 23:30 CET.

Certified Adviser
FNCA Sweden AB is the company's Certified Adviser.
E-mail: [email protected]

About CDON

CDON was founded in 1999 and is now the biggest marketplace in the Nordic region. Customers can choose to buy and compare prices for millions of products at CDON, by far the widest range of all Nordic e-retailers. Over 1,500 merchants use CDON's platform and technology to increase their sales. This gives CDON a wide range of products within, movie, music, computers, games, office supplies, books, toys, consumer electronics, household appliances, sport, outdoor, beauty care, fashion, shoes, computers, and computer products. CDON is listed on Nasdaq First North Growth Market with the abbreviation CDON.

Invitation to presentation of CDON's Q4 and full year (year-end) report 2022

CDON AB (publ) ("CDON") will publish its report for the fourth quarter and full-year 2022 ("the year-end report 2022"), on Thursday, 16 February 2023 at 14:00 CET. On the same day at 15:00 CET, investors, analysts and media are invited to a presentation of the year-end report 2022 via webcast and teleconference. 


CDON accelerates transition to sustainable profitability by implementing a restructuring program

CDON AB (publ) ("CDON" or "the company") intensifies its work on ensuring profitability and the ambition to become the leading marketplace in the Nordic region. The company will implement a restructuring program that - including efforts already under way during 2022 - is estimated to decrease costs by 60-65 MSEK on a yearly basis. The program is a response to signs of a weaker economy and is aiming at ensuring at least breakeven EBITDA in 2023, in line with the company's financial directives and targets that had been communicated earlier.


Peter Kjellberg leaves his position as CEO of CDON

The Board of Directors of CDON AB (publ) ("CDON" or "the company") has today mutually agreed with Peter Kjellberg that he will leave his position as the CEO (Chief Executive Officer) of the company on 1 January 2023. Peter will remain in a consultancy role until 1 February 2023 to finalize the re-branding of CDON (CDON 2.0). The Board has decided to appoint Thomas Pehrsson, currently CFO, as the acting CEO of CDON effective from 1 January 2023. The recruitment process to find a new permanent CEO will commence immediately.


"Swedes will smell lovely this Christmas!" - Perfume is the gift most likely to be found under your Christmas tree in 2022

CDON, the leading marketplace in the Nordics, has analyzed customer data for 2022 and can now announce the Christmas gift of the year - the perfume.


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Bulletin from Extraordinary General Meeting on 25 October 2022 in CDON AB

At the Extraordinary General Meeting ("the EGM") in CDON AB ("CDON" or "the company") held on 25 October 2022, which was conducted solely through postal voting pursuant to temporary legislation, the following resolutions were made. All resolutions were in accordance with the submitted proposals, described in detail in the EGM documents available on the company's website, investors.cdon.com (under the heading "EGM Oct 2022" in the section "Corporate Governance").



CDON Interim report Q3 2022

CDON Marketplace continues to take market share


CDON announces financial directives and targets

CDON AB (publ) ("CDON") announces financial directives and targets to facilitate investors' understanding of CDON's marketplace business.


The Nomination Committee ahead of CDON's Annual General Meeting 2023 has been appointed

CDON's Nomination Committee (Sw. valberedningen) ahead of the Annual General Meeting 2023 has been appointed in accordance with the current instructions for the Nomination Committee adopted by the Annual General Meeting 2021.


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