Kinnevik Parts Ways With CEO Ganev Amid Lackluster Returns

Kinnevik AB said Georgi Ganev will leave his position as chief executive officer, a move that will likely raise fresh questions over the future strategy of the Swedish investment firm.

For the past eight years, Ganev has shifted much of the company’s holdings into private assets centered on health care and drug discovery, software and climate technology. The Stockholm-based firm also has a 3% stake in struggling green steel startup Stegra AB, currently valued at 1.3 billion kronor ($136 million).