Fredrik Järrsten has quit his role as CFO and deputy CEO of Karolinska Development after helping steer the firm's financial turnaround.
Karolinska Development, the investment firm of Karolinska Institute, is set to part ways with Fredrik Järrsten, its deputy CEO and chief financial officer.
Karolinska announced Järrsten’s departure yesterday but he will remain in the position while it searches for a successor, exiting no later than March 2021.
The firm hired Järrsten in late 2017 as CFO before handing him the dual-title of CFO and deputy CEO in July 2019. He is expected to take on a new senior role within the life sciences industry.
Järrsten’s tenure as deputy CEO has coincided with a rapid financial turnaround that helped rescue Karolinska Development from the precarious debt position it faced at the end of 2018, aided by the listing of Karolinska Institute-founded cancer drug developer Aprea Therapeutics last October.
He joined Karolinska after more than three years as CFO and business development officer at antibacterial product supplier Bactiguard, during which time he helped lead its IPO on Nasdaq Stockholm.
Järrsten directed business development and healthcare services provider Aleris from 2006 until 2014, having previously worked for the investment team at private equity firm Litorina from 1999 until 2006.
He was a project leader at financial advisory and asset management firm Lazard from 1996 until 1999, and spent four years as an advisory associate with corporate banking group SEB’s individual investor unit from 1992 until 1996.
Viktor Drvota, chief executive of Karolinska Development, said: “We would like to extend our sincere gratitude and appreciation to Fredrik Järrsten for his significant efforts and great commitment during the time in Karolinska Development’s management team and wish him all the best for the future.”
– Image courtesy of Karolinska Development