Midsona CEO Peter Åsberg to leave Swedish food group
SWEDEN – Peter Åsberg plans to step down as CEO and president of Swedish food group Midsona but will stay on through a transition period until a replacement is found.
Åsberg said in a statement: “Since I started as CEO in 2007, Midsona has developed from a local niche player with a focus on dietary supplements to a leading European group in healthy and sustainable food.
“After a couple of challenging years, the group has made clear progress in 2024, and I feel that it is the right time for me to pass on the baton.”
Commenting on Åsberg’s planned departure, Midsona’s board chairman Patrik Andersson said: “The last few years have undoubtedly been challenging. Under Peter’s leadership, Midsona has regained its position as a profitable company with a focus on continuing to grow.”
As reported by Just Food in 2024, the company revealed new financial targets significantly lower than previously guided.
Midsona, which specializes in organic and sustainable food products, is now targeting organic growth of 3%-5% on average per year, against a previous target of more than 15%, and EBITDA margin of 8% by year end 2027, against previous guidance of above 12%.
CEO Peter Åsberg, said: “Midsona has taken several important steps on its journey of change over the past year. Now, we are taking the next step that sets the direction forward.
“We are presenting new financial targets and simultaneously launching a new strategy aimed at strengthening our position and our offerings based on our strong brands.”
Midsona said its new strategy is based on three pillars. Firstly, to further strengthen its position, drive growth and develop its offerings within organic foods by working across markets with production, procurement, innovation, and communication.
“This involves leveraging synergies between brands to make it easier for consumers to navigate the range of products available,” it said.
Secondly, to grow with its strong health brands in existing and new markets.
“Overall, this means that the group will focus on profitable organic growth in selected markets using Midsona’s three prioritised brands where the significant potential exists: Friggs, Earth Control, and Gainomax,” it said.
Thirdly, it aims to streamline the value chain and harmonize the product range to develop an offering that meets market needs, aiming for high efficiency in everything.
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