CEO Johnny Hedlund is leaving Waystream Holding AB (public company)
After eleven years tenure, the last five years as CEO for Waystream (WAYS), Johnny Hedlund has informed the board that he is leaving the position company and his position as CEO. Johnny Hedlund will continue as CEO during the notice period and will assist Waystream in the recruitment process for his successor.
Waystream develops and sells advanced digital equipment for fiber-based broadband networks. The company with Johnny Hedlund has contributed to making fiber networking the fastest growing broadband technology in Sweden. To capitalize on emerging opportunities in the market, Waystream will further increase its focus on growth.
- We wish to thank Johnny for his outstanding contribution. Under his leadership, the company has successfully introduced a number of products and solutions that the market has welcomed. Now that Waystream is moving into a new phase focused on sales, Johnny has chosen to leave the company, says Peter Kopelman, Chairman of the Board at Waystream.
- I am very proud of what I and my team have accomplished during my five years as CEO. The last two years have been very intense. We have listed the company on NASDAQ First North and continued the work to consolidate our position as pioneers on the Nordic market. We have also developed and launched the first products in our new MPC480 platform which, with its cost-efficient hardware and “pay-as-you-grow” licensing for advanced software, will help existing and new customers to grow their broadband networks with improved profitability. Leaving the company was not an easy decision but the timing is right for the company’s future development, says Johnny Hedlund.
The board has started the process to find a replacement. The goal is to recruit a successor as quickly as possible to ensure the best transition. Johnny Hedlund will assist Waystream in the recruitment process for the new CEO and will remain in the company as a member of the board. Johnny Hedlund’s notice period is six months.
For more information, please contact:
Peter Kopelman, styrelseordförande
070-691 10 00
About Waystream
Waystream sells and designs advanced digital infrastructure including switches and routers. With our products and expertise, we help telecom operators and service providers to offer reliable and user-centric network services with a high level of functionality. Our products are smart, easy to use and manage, and designed to create the best possible experience for the end user.
The company is traded on the NASDAQ First North. Waystream’s Certified Adviser is FNCA Sweden AB.
This information is such that the Company is obligated to provide according to EU market abuse regulations. The information is delivered, by the supervision of above contact persons, to be published on January 23, 2017 at 17:31 CET.