The board of directors of Lithium AB has today decided to appoint Martin Billenius as the company's new CEO. Martin, who has been a board member of Litium since 2023, has a solid background as Chief Revenue Officer at the global SaaS company Medius. He has extensive experience from the industry and in his most recent role was responsible globally for building and scaling a business to become Sweden's largest SaaS companies with billions in turnover.

Patrik Settlin leaves his role as CEO

Patrick Settlin, who was CEO of Lithium since 2020, has today informed the board that he will step down from his position as CEO of Litium. Patrik will remain in place for the handover until the summer of 2025.

A well-balanced leadership change

– I have my own business ideas and opportunities that I have long wanted to explore. It is something that has grown stronger over time, and now feels like the right time to take the step. Lithium is in a strong position – we have made great progress, but the journey has only just begun. Handing over the baton at this stage, when the company is facing the next growth phase, feels just right. I care deeply about the company and our fantastic employees, and to get hand over to Martin feels very good. I am convinced that he is the right person to take Litium to new heights, says Patrik Settlin.

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Litium's growth journey under Patrik Settlin's leadership

Under Patrik Settlin's leadership, Litium has nearly doubled its sales and achieved profitability. The company has also established a strong customer base with leading brands and a prominent position in attractive market segments. Today, Litium is one of The Nordic region's largest digital commerce platforms.

Strong future prospects with Martin Billenius

– A big and warm thank you to Patrik and the entire organization for the impressive work that has been done over the past five years. The company has taken significant steps forward and is now on a solid foundation for future challenges. Perfect timing is rare, but in this case we could not have had a better solution – to Welcome Martin as new CEO is a dream scenario for Litium's continued development, says Johan Rutgersson, board member of Lithium.

Martin Billenius will take over as CEO in February 2025

Martin Billenius will take office as CEO on February 14, 2025, at the same time he will leave his position as a member of the board.

Focus on global growth

– I am extremely happy and proud to lead Lithium into the next phase. The company has a strong product and great opportunities in the global B2B market. I felt very early on that Litium has enormous potential and I believe that through a clearer offering and daring to invest more in international markets over time we can create even greater success. I look forward to building on what has already been done and driving our growth forward together with the team, customers and our partners, says Martin Billenius, incoming CEO of Lithium.