Cristina Stenbeck, chairman of Kinnevik’s nomination committee, said: “Cynthia will add highly complementary digital communications and emerging markets expertise to the board, drawing on her many years of experience from leading telecommunications companies. Her strategic and commercial acumen will support our investee companies in delivering on their strategies to build strong digital consumer brands.”
One of her first tasks is to revive troubled GFG, which specialises in selling fashion in emerging markets. It has just announced a fourth-quarter loss of €28 million on sales of €317 million. Annual loss was €127 million.
The company, which is owned via Kinnevik’s Rocket Internet, is valued at €1 billion. According to Reuters, it is seen as a possible candidate for a stock market flotation.