
Bloomberg Daybreak: Europe 05/27/2025
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. (Source: Bloomberg)
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34 minutes ago
- Yahoo
The Nomination Committee's proposal for Systemair's Annual General Meeting
SKINNSKATTEBERG, Sweden, June 11, 2025 /PRNewswire/ -- Today, the Nomination Committee is publishing its proposals to Systemair's Annual General Meeting (AGM) on 28 August 2025 regarding the election of board members and the chairman of the board. These proposals will also be presented in greater detail in the notice of the AGM. Systemair's Nomination Committee comprises Magnus Tell (Alecta, Chairman of the nomination committee), Gerald Engström (Färna Invest, Chairman of the Board and the company's largest shareholder), and Lennart Francke (Swedbank Robur Funds). The Nomination Committee proposes the re-election of Gerald Engström, Patrik Nolåker, Gunilla Spongh and Niklas Engström, as well as the election of two new members, Peter Fenkl and Åsa Söderström Winberg. Carina Andersson has declined re-election. Accordingly, the Committee proposes that the number of board members be increased by one, to a total of six. As announced on 7 April 2025, the Nomination Committee further proposes that Patrik Nolåker be elected Chairman of the Board and that Gerald Engström be elected Vice Chairman. Magnus Tell, Chairman of the Nomination Committee, says:"Since 2015, Gerald Engström, in his role as Chairman, has steered Systemair through the continued growth journey that has characterised the past ten years. We thank Gerald for his significant contributions as Chairman and are very pleased that he will continue his engagement on the board. We believe Systemair has a strong board to drive the strategic direction forward and further strengthen the company. Patrik Nolåker has been a board member for several years and will be an excellent successor as Chairman." "For me, as Chairman, it has been both a challenging and an honourable assignment. Together with the board, Group Management and all employees, Systemair has developed into Europe's largest supplier of ventilation products. As a founder, I have served on Systemair's board since 1974 and look forward to continuing," says Gerald Engström. Peter Fenkl, born 1961, holds a Master of Science in Engineering and has an extensive background in the ventilation industry as CEO of ZIEHL-ABEGG AG, as well as in senior roles at, among others, ABB. Peter began his career at the technology group Heraeus Instruments GmbH in product development and sales in the late 1980s. He has also been a long-standing member of the European Ventilation Industry Association (EVIA). Åsa Söderström Winberg, born 1957, holds a Master of Science in Economics and Business Administration and has a broad background in the built environment and energy, including roles as CEO of SWECO Theorells AB, CEO of Ballast Väst AB and Head of Communications at NCC Bygg AB. She has many years of board experience in both public and private settings and is currently a board member of Skanska AB, Currentum AB and FIBO AS. She also serves on the Swedish Armed Forces' Audit Committee and is a member of the Royal Swedish Academy of Engineering Sciences (IVA). For more information contact:Chairman of the Nomination 46 72 968 58 52 Systemair AB | SE-739 30 Skinnskatteberg, Sweden | +46 222 440 00 | Systemair in brief Systemair is a leading ventilation company with operations in 51 countries in Europe, North America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 12.3 billion in the 2024/25 financial year and today employs approximately 6,700 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. Over the past 10 years, growth has averaged 7.9 percent. Systemair helps improve the indoor climate through energy-efficient products that contribute to reduced carbon dioxide emissions. Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, Fantech and Menerga brands. Systemair shares have been quoted on the Nasdaq OMX Nordic Exchange in Stockholm since October 2007 and are today traded on the Large Cap List. The Group comprises about 90 companies. This information was brought to you by Cision The following files are available for download: Pressrelease_Systemair_NominationCommitteeProposal View original content:
Yahoo
38 minutes ago
- Yahoo
Sales rise for Zara owner Inditex but pace of growth slows ahead of summer
The owner of Zara has reported rising sales in recent weeks but a slowdown in the pace of growth as the fashion giant staves off the impact of economic uncertainty on global consumer confidence. Inditex, which is Europe's largest fashion retailer, said store and online sales between May 1 and June 9 rose 6% compared with the same period last year. Spring and summer collections were being received well by shoppers, it said. It nonetheless reflected slower sales growth than the same time last year – when sales leapt 12% higher ahead of the peak summer months. Sales over its latest quarter, between February and April, rose to 8.3 billion euros (£7 billion). This was 4.2% higher than the same period a year ago, at constant currency rates, but slightly fell short of analysts' expectations for the quarter. Spain-based Inditex, which also owns the Pull & Bear, Massimo Dutti, and Stradivarius brands, said the 'optimisation' of its stores was ongoing in a bid to improve productivity. At the end of the latest quarter, it operated 5,562 shops around the world – more than 100 fewer than the 5,698 it had last year. Concerns that consumer confidence in global markets, particularly the US, has been impacted by economic and trade uncertainty have risen in recent months. US President Donald Trump's tariff plans led some economists to cut the outlook for global growth. Meanwhile, power outages in Spain and Portugal – key markets for Inditex – caused major disruption, bringing much of the countries' systems to a standstill for a short period. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
38 minutes ago
- Bloomberg
US Tariff Damage to Business Is Ongoing: 3-Minute MLIV
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