Management change at Mycronic
Evertiq has previously reported on Mycronic's possible listing Axxon – the core of the High Volume division. A move which the Swedish company claims would create the best possible conditions for Axxon to realise its full potential.
As a result of the preparations ahead of the possible listing of Axxon on a stock exchange in China, Ivan Li will leave Mycronic’s executive management – but remain as Head of Axxon, the core of Mycronic´s High Volume division.
Mycronic announced back in the summer of 2022 that it would investigate the possibility of listing Axxon on a stock exchange in China and floating a minority stake. This move would allow Axxon to strengthen its brand and market position. By being more independent and having the means for fast expansion, the best possible conditions for Axxon are created to realise its success and full potential.
However, the regulations stipulate that in such a situation, Ivan Li cannot be a member of Mycronic’s executive management.
“Although the Board of Directors of Mycronic has not yet made a formal decision to list Axxon, we choose to already now carry through this organizational change, as this will enable more options for the future. Axxon will be governed by a Board of Directors, which I will chair. High Volume will otherwise remain as a division and a reported segment in Mycronic.”, says Anders Lindqvist, Mycronic’s President and CEO in a press release.
