Kinnevik Revamps Board as Stenbeck Joins, Northvolt Founder Out

Swedish investor Kinnevik AB proposed the return of Cristina Stenbeck as its new chairperson, some nine years since she last held the post at the firm founded by her grandfather in 1936.

Known in its early years as an investor in industrial companies, most of Kinnevik’s money is now in healthcare and drug discovery, software and climate tech — with a heavy US focus — and dominated by private assets. It’s a portfolio mix that has been questioned by stock investors and shares are down more than 40% in the past 12 months.