Knut Pedersen has stepped down as CEO of Swedish real estate and alternative investment group Catella, pending a likely move into the company's boardroom.
He will continue in his current role during the notice period of a maximum six months and step down from the CEO role before Catella's next Annual General Meeting.
Pedersen has been at the helm of Catella since January 2014.
Announcing his departure, Pedersen said: ‘Catella is a fantastic company which it has been a privilege to lead and develop together with my colleagues. I am proud of what we have achieved during my time. Catella is well positioned for future growth while at the same time the company stands on a broad, commercial and geographical basis.’
Paying tribute to Pedersen’s contribution over the course of his tenure, Johan Claesson, Catella’s chairman and its main owner, said: ‘During his six years as CEO, Knut Pedersen has successfully developed Catella into a pan-European finance group in real estate and alternative investments.
Claesson expressed his wish that Pedersen remain at the firm by taking a seat on the board.
‘It is my belief that Knut still have a lot to add to Catella, why my wish is that Knut will be elected to the Catella AB's board of directors,' he said. 'Recruitment of a new CEO begins immediately with the ambition of finding a CEO who can lead the company's continued growth journey.’
This week, Catella's Berlin-based subsidiary Catella Residential Investment Management (CRIM) announced the acquisition of three residential projects in Germany and the Netherlands for around €65 mln, taking the total investment volume for its Catella European Residential Fund lll, to more than €100 mln.
