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CLS announces death of founder Sten Mortstedt
StockMarketWire.com
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Property company CLS has announced that founder and executive director Sten Mortstedt has died at the age of 80.
CLS said that the Sten Mortstedt Family and Charity Trust, which owns 51.46% of the company, has assured the board that it remains committed to CLS, and will continue to be represented on the board by non-executive vice chair Anna Seeley.
Seeley said: 'This is truly a sad day for our family and we will miss him dearly. My father was an inspirational man whose legacy will live on through the businesses he created, and the charities he supported.
'The Trust will continue to support CLS, which it believes has a strong leadership team in place to deliver significant long-term value for CLS's shareholders.'
Mortstedt established CLS in 1987 and built it into a company with assets of more than £2.1 billion.
Chairman Lennart Sten said: 'Sten was a remarkable businessman and friend, and delivered significant long-term value for all our shareholders. He will be deeply missed by everyone at CLS and our thoughts are with his family.'
At 1:37pm: (LON:CLI) Cls Holdings PLC share price was 0p at 217p
Story provided by StockMarketWire.com
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