After a period of disagreement between shareholders about the future capital structure, the SGM board of directors decided to restructure the company. As of November 9, SGM was completely re-established with its new shareholder and capital.
All business elements remain unchanged, including the entire team behind SGM and its worldwide distributor. The changes in SGM aim to strengthen the company financially.
The new ownership relates to investment company, Eurofinim, whose CEO, Paolo Covre, wants to carry on SGM in the same spirit as before, with Peter Johansen continuing his role as CEO of SGM.
Covre states, “This is the kind of company I trust and I am honored to be a part of, and it just needed a financial injection to continue and enhance its growth.”
Johansen speaks positively of thenew investor’s wishes for SGM’s future" “Paolo and I share many viewpoints and I am sure he will become a great asset for SGM. I am happy to have him on board. SGM is now stronger and more motivated than ever before. We will continue our growth, developing the innovative products we believe in. We are confident that the misleading rumors we have unfortunately incurred into will be immediately disregarded."