At the annual general meeting, it was decided that Mats Rignell will join the board of directors. He currently runs his own consulting business and has a background in leading roles within procurement and logistics.
Mats Rignell has, among other things, been responsible for the global supply chain at Ikea, and held positions as Head of Supply Chain at Atlas Copco and Nobia. His experience list also includes work for SCA and Åkerlund & Rausing. Mats is also familiar with Rusta from before, as he worked for the company and served on the board between 2018 and 2020.
The meeting also re-elected Chairman Claus Juel-Jensen and the seven other board members.
A new incentive program was also approved during the meeting.
It is aimed at the CEO, group management and other key personnel in the company, a total of up to 41 employees. If conditions and predetermined performance goals are met, the program gives these individuals the right to receive more shares completely free of charge.
The board of directors also received authorization to repurchase its own shares.
E-commerce drives sales
The latest interim report shows a turnover that increased by 10 percent to 3.5 billion Swedish krona during the first quarter of the year. Operating profit amounted to 330 million Swedish krona, an increase from last year's 280 million Swedish krona.
The segment "Other markets", which includes Rusta Online as well as the physical stores in Finland and Germany, had a turnover of 790 million Swedish krona, which is an increase of 16 percent.
The company's digital platform is now implemented in all markets where the chain operates, and the company notes an improved gross margin for e-commerce.
258 warehouses at the end of the year
The physical expansion runs in parallel with the e-commerce investment. After opening five new warehouses during the first quarter, the chain plans to open another 14 stores in the autumn. These are distributed across six in Finland, five in Norway, two in Sweden and one in Germany.
The total number of warehouses will thus amount to 258 units. The company expects the pace of establishment to increase costs in the short term, but it is described as part of the long-term strategy.