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Oslo, 21 June 2021: Adevinta ASA (“Adevinta” or the “Company”) today announces the proposed new Executive team that will lead the business after the completion of the acquisition of eBay Classifieds Group (“eCG”). The transaction was first announced in July 2020 and is expected to complete on 25 June.
The new Adevinta Executive team will continue to be led by current Chief Executive Officer Rolv Erik Ryssdal, and will comprise of the following team members:
Rolv Erik Ryssdal, CEO, commented on the news:
“I am pleased to announce the new Executive team that will drive forward Adevinta’s long term strategy and ambitions. Adevinta’s combination with eCG will start an incredibly exciting new chapter for our business, our loyal customers and users, and our talented people. Our two groups share a common set of values, and we’ll continue building a strong culture together. I will be privileged to have such a capable and experienced team of colleagues by my side to take Adevinta to new heights.
"If you look at the new company that we will create, it is entirely unique. We will have an unparalleled footprint globally, strengthened by market-leading positions in 16 countries, including France, Germany, Spain, the Netherlands and Brazil. With the support of our two major shareholders, Schibsted and eBay, we have the vote of confidence to increase our scale and develop new technology to accelerate innovation and improve our offerings for users, customers and our teams.
“Our immediate task will be to integrate the businesses successfully and realise the revenue and cost synergies we identified.”
The transaction with eBay Classifieds Group will create a globally scaled, pure-play online classifieds leader which covers a population of one billion people, receiving approximately three billion monthly visits. With its combined presence in 16 countries, the management teams of Adevinta and eBay Classifieds Group will share a set of strategic principles developed through a common history of acquiring and scaling generalist marketplaces and successfully verticalising them to create value. The global footprint will in turn place the new group in the ideal position to further consolidate the global online classifieds industry.
The new Executive team, supported by the breadth of talent across both companies and the collective experience across the combined portfolio will serve to optimise strategies for the various assets at different stages of development, accelerating monetisation and creating value for consumers and advertisers.
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