Oatly Sees Co-Founder Depart Company After Less Than A Year Being Public
After less than a year of being public, it appears that one of the co-founders of Oatly Group (NASDAQ: OTLY) has left the company for good. The co-founder, whom once served as Chairman of the company until 2012, has left the firm to “pursue other interests.”
The exec, Bjorn Oste, originally founded the firm with his brother back in the late 1990’s, based on a formulation for oat milk. In the time since, he served as chairman through 2012, before stepping down into the role as a simple director of the firm. He has now left that role entirely, ending his tenure with the firm.
Oste currently serves as the co-founder and CEO of another beverage firm, Good Idea Drinks, which is focused on helping “handle blood sugar spikes following a meal.”
Oste’s departure is effective as of December 31, following which the board of Oatly will feature ten independent directors and two non-independent directors, for a total of twelve.
Oatly last traded at $7.88 on the Nasdaq.
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