Gordon joins Kinnevik board and chairs GFG

By:
Alan Burkitt-Gray
Published on:

Cynthia Gordon, ex Orange, Ooredoo and Millicom, becomes board director of Kinnevik and chairs e-commerce group

Cynthia Gordon, former CEO of Millicom Africa, has become a board member of Swedish investment company Kinnevik and chair of e-commerce company Global Fashion Group (GFG).

Kinnevik is a shareholder in both Millicom and GFG, and in Tele2, whose board Gordon joined in 2016.

Before joining Millicom in 2015, Gordon was chief commercial officer of Ooredoo for three years, joining from Orange, where she was vice president of business. She was earlier chief marketing officer of MTS in Moscow.

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.