12/06/2019 | Press release | Distributed by Public on 12/06/2019 01:39
As announced in November, current CFO Fredrik Åkerman will leave Internationella Engelska Skolan (IES) in early 2020. Annika Dohrman, currently the deputy CFO of IES, has been appointed acting CFO from March 1, 2020 until a new CFO is in place.
Annika Dohrman has a solid background from various financial roles. She has been deputy CFO of IES since 2013 and was CFO 2010-2013. Prior to that, she was, among other things, finance and HR manager at Smiths Medical Sweden and accountant at MTG.
Fredrik's last day at IES will be February 29, 2020. The recruitment process for a new CFO has started.
For more information, please contact:
Emma Rheborg, Head of Communication and IR, IES
Phone: +46 (0)768 511 540
E-mail: [email protected]
The information was submitted for publication, through the agency of the above contact, at 08.30 CET on 6 December 2019.
About Internationella Engelska Skolan
Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 26,800 students at 37 schools, and about 2,500 students at its schools in Spain.
IES Sweden conducts school operations from 'förskoleklass' (grade F) up to the third and final year of upper secondary school (grade 12). Its main focus is grades 4-9, what is often called 'middle school.' Within the compulsory school system in Sweden, IES is the leading independent operator, with 17 of the 20 largest free schools. The academic results of IES schools on the national tests in grade 9 are far above average in Sweden.
Internationella Engelska Skolan was founded in 1993 and is in its 27th year of operation. Throughout this period, its schools have been defined by the three core convictions of its founder, Mrs. Barbara Bergström:
Up to half of teaching is conducted in English by teachers whose native language is English. Over 800 teachers with qualified foreign teaching degrees are currently teaching in IES schools. They are mainly recruited from Canada, the USA, the UK and South Africa.
The IES student base is growing strongly. Over the past ten years, total operating income has increased by an average of 19% per year. In the most recent financial year 2018/19, which concluded on 30 June 2019, total operating income was MSEK 2,781.1, an increase of some 18% year on year. As of 30 September 2019, there were approximately 204,700 applications in the queue to secure a place in the Swedish schools for the current and forthcoming years.
Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap, with the ticker ENG, since 2016.
The largest (indirect) shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and trusts in the US, Barbara Bergström, the founder of IES, and Paradigm Capital AG through different funds. At the end of September 2019, the 10 largest shareholders also included Swedbank Robur fonder and AMF Försäkring & Fonder (owned jointly by LO, the Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).