SBB, the landlord at the center of Sweden’s property crisis, suffered yet another setback after its chief financial officer for the past seven years announced she would be leaving.
Eva-Lotta Stridh, who is also the deputy chief executive officer of Samhallsbyggnadsbolaget i Norden AB — as the company is formally known — will remain in her post during the three-month notice period and the process to hire a new CFO has already started, according to a statement after market close on Friday.
SBB’s shares fell as much as 6% when trading started in the Swedish capital on Monday. The company’s has shed more than 90% of its market value since hitting a high toward the end of 2021. Still, the departure adds yet another layer of uncertainty onto Stockholm-based SBB, which is racing to plug a self-identified cash shortfall of 8.1 billion Swedish kronor over the next 12 months. The company has suffered a spate of rating downgrades since losing its investment grade status in early May and its founder was ousted as CEO in June.
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