Cristina Stenbeck

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Cristina Stenbeck
CristinaStenbeck2012.jpg
Born (1977-09-27) 27 September 1977 (age 40)
Long Island, New York, United States
Residence Stockholm
Nationality Swedish/American
Occupation Chairman and principal owner of Investment AB Kinnevik
Spouse(s) Alexander Fitzgibbons
Children 3 daughters and 1 son
Parent(s) Jan Stenbeck
Merrill McLeod[1]

Cristina Mayville Stenbeck, born 27 September 1977 in New York City, United States, is a Swedish American business woman and entrepreneur. She is the principal owner and former executive chairman of Investment AB Kinnevik, one of the largest family-controlled companies in Sweden.[2][3]

Early life[edit]

Stenbeck was born in New York City as the eldest daughter of Jan Stenbeck (1942-2001), a Swedish industrialist and entrepreneur, and her American mother, Merrill McLeod.[1] Her parents had three other children, Hugo, Sophie and Max Stenbeck.[2] Her father also had the son Felix Granander.[4] Stenbeck is the granddaughter of Hugo Stenbeck (1890 – 1977), a Swedish industrialist and lawyer who was one of the co-founders of the family company, Investment AB Kinnevik.

Stenbeck attended St. Andrew's School in Delaware (where she later served as a trustee),[5] and graduated from Georgetown University in Washington, D.C. with a Bachelor of Science in 2000 at age 22.[6][7][8]

Career[edit]

Stenbeck’s business career began in 1997 after she joined the board of Invik & Co, a finance-based subsidiary of Kinnevik at the time. Stenbeck assumed leadership of the group in 2003 when she became the vice chairman of Investment AB Kinnevik, later becoming chairman in 2007.[9] In 2016 she stepped down as chairman of Kinnevik to concentrate on her role as principal owner focusing on investments, increasingly in the e-commerce sector.[10]

For the next decade after 2003, Stenbeck made successful changes at Kinnevik, consolidating the ownership of the group, whilst simplifying the corporate structure. She also divested peripheral businesses in order to reduce leverage and increase transparency of the company.[8][11][12]

Her leadership has also seen the group’s global network expand; the Kinnevik Group now operate in more than 80 countries in the communication, entertainment, media and e-commerce sectors, with well-known brands like Tigo, Tele2, Viasat, and Zalando forming part of the firm’s reach.[13]

In early 2014, she was appointed chairman of the board at the online fashion retail website Zalando.[14] She also assumed the chairman role at telecoms giant Millicom in May 2014.[15] She has also joined external boards of Spotify and Babylon.[16]

Stenbeck is a board member of the Reach for Change foundation which promotes social entrepreneurship and business activities in Africa, Scandinavia, Russia and the CIS.[17][18] She also works for the Hugo Stenbeck Foundation with her siblings, Sophie and Max, a charitable foundation established by her grandfather in 1962.

Honors and awards[edit]

In April 2012, Stenbeck was awarded the Swedish Royal Patriotic Society Business Medal for outstanding entrepreneurship,[19] while in November 2012, she won the Golden Gavel for her leadership as chairman of a listed company.[20]

Personal life[edit]

Stenbeck has been married to the English businessman Alexander Fitzgibbons since September 2005. She has three daughters and one son and lived for a long time in London, but decided in 2015 to move to Stockholm.[21] She was named 2016 European Manager of the Year by European Business Press (EBP).[22]

References[edit]

  1. ^ a b "Saving the family empire". Fokus. 18 April 2011. Retrieved 4 June 2014. 
  2. ^ a b "Cristina Stenbeck axlar pappas mantel". DN.se. 13 May 2003. Retrieved 24 December 2013. 
  3. ^ "Cristina Stenbeck of Sweden's Kinnevik". Bloomberg. 24 June 2010. Archived from the original on 24 May 2013. Retrieved 24 December 2013. 
  4. ^ "Felix Granander har tröttnat på att vara Stenbecks okände son (in Swedish)". 21 April 2018. Retrieved 21 April 2018. 
  5. ^ "St. Andrew's Celebrates 81st Commencement". St. Andrew's School. 26 May 2014. Archived from the original on 22 January 2015. Retrieved 22 January 2015. 
  6. ^ [1]
  7. ^ "Stenbeck Profile". Bloomberg. Retrieved 24 December 2013. 
  8. ^ a b "Cristina Stenbeck, Kinnevik – Winner of the 2012 Golden Gavel – Listed companies". GuldKlubban. 2012. Archived from the original on 24 December 2013. Retrieved 24 December 2013. 
  9. ^ "Beyond the family boardroom". Financial Times. 11 March 2012. Archived from the original on 16 February 2013. Retrieved 24 December 2013. 
  10. ^ Milne, Richard (3 November 2016). "Kinnevik's Cristina Stenbeck steps down as chairman". The Financial Times. Retrieved 12 August 2017. 
  11. ^ "A Swedish heiress confounds skeptics". New York Times. 31 October 2005. Archived from the original on 28 March 2014. Retrieved 24 December 2013. 
  12. ^ "KINNEVIK FÖRVÄRVAR EMESCO OCH STÄRKER ÄGANDET I MTG OCH TELE2" (PDF). Investment AB hugin.info. 23 April 2009. Retrieved 24 December 2013. [dead link]
  13. ^ "Facket ska granska svenskägda Millicoms sponsring av militärkupp". Fria.nu. 20 August 2009. Archived from the original on 24 December 2013. Retrieved 24 December 2013. 
  14. ^ "Zalando transforms into a Societas Europaea". Zalando. May 2014. Retrieved 4 June 2014. 
  15. ^ "Millicom International Cellular: Millicom Annual General Meeting and Extraordinary General Meeting of Shareholders". Reuters. 27 May 2014. Archived from the original on 6 June 2014. Retrieved 4 June 2014. 
  16. ^ Milne, Richard (June 27, 2017). "Cristina Stenbeck shakes up big European tech investor". Retrieved December 8, 2017. 
  17. ^ "En ny Stenbeck visar upp sig". Realtid.se. 10 May 2013. Archived from the original on 24 December 2013. Retrieved 24 December 2013. 
  18. ^ "Chairman of Playing For Change And Kinnevik Group, Cristina Stenbeck Endorses Safe Child". ReachforChange.org. 13 January 2012. Archived from the original on 24 December 2013. Retrieved 24 December 2013. 
  19. ^ "Cristina Stenbeck får Näringslivsmedalj för framstående entreprenörskap". Cision.com. 25 April 2012. Archived from the original on 28 March 2014. Retrieved 23 December 2013. 
  20. ^ "Camfil Vice Chairman receives Swedish award". Camfil.com. Archived from the original on 28 March 2014. Retrieved 24 December 2013. 
  21. ^ "Cristina Stenbeck flyttar till Stockholm". Expressen. Retrieved 2016-02-15. 
  22. ^ "EBP European Manager of the Year awarded to Kinnevik's Steinbeck".