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Morten Juel was co-CEO of Silvan for just 60 days

The unsettled situation at Danish builder's merchant Silvan continues. It has now emerged that Morten Juel, who was appointed CEO in May, was relieved of his responsibilities on 11 July, just 60 days after taking up the post. The news was reported by the financial press in Denmark, referring to an online report by the journal Børsen. Juel was made co-CEO of Silvan with German national Jan Becker, a partner in the German investment company Aurelius, which owns the builder's merchant.  The companies' register shows that Becker is currently running Silvan together with CFO Michael Østerlund Madsen. The report quotes an e-mail from Becker to Børsen, in which it states: "It would not be responsible to continue with a co-CEO constellation when one does not agree on the premise of the direction of cooperation. On that basis, Morten Juel has been asked to resign from the executive board."

| 7 October 2019


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