January 23, 2014 / 10:40 AM / 5 years ago

Kinnevik's Cristina Stenbeck set to chair Zalando - FT

STOCKHOLM, Jan 23 (Reuters) - Cristina Stenbeck, chairwoman of Swedish investment firm Kinnevik, is set to take over as chairwoman of Zalando, Europe’s biggest online fashion retailer, the Financial Times reported on Thursday.

Kinnevik, which has a 37 percent stake in the fast-growing Berlin-based retailer that competes with Britain’s ASOS , said on Wednesday that its Chief Executive Mia Brunell Livfors was stepping down to pursue other challenges.

Brunell was appointed to head a new six-person supervisory board at Zalando only last month as the company changed its structure to one typically used by German listed companies, stoking speculation of an imminent floatation.

Kinnevik was not immediately available to comment. Zalando declined to comment but confirmed there would be a meeting of the supervisory board next week.

Swedish business daily Dagens Industri reported on Thursday that the hottest candidates to take over as Kinnevik CEO included the current head of telecoms operator Millicom , Hans-Holger Albrecht, and a former Goldman Sachs banker, Lorenzo Grabau, who last year took a position on the Kinnevik board.

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