Martin Sjolund appointed President and Chief Executive Officer, effective June 17, 2025
Vikram Atal to serve as senior advisor through December 31, 2025
NORFOLK, Va., April 8, 2025 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced that its Board of Directors has appointed President of PRA Group Europe Martin Sjolund to serve as President and Chief Executive Officer (CEO), effective June 17, 2025. Sjolund succeeds current President and CEO Vikram Atal, who announced that he will retire and serve as a senior advisor through December 31, 2025. Sjolund will be appointed to the Board upon assuming the role of President and CEO, and Atal will retire from the Board at that time.
"On behalf of the Board, I want to thank Vik for his leadership of PRA Group during a pivotal time," said Executive Chair of the Board Steve Fredrickson. "Today's announcement is the culmination of the Board's ongoing succession planning process and commitment to enabling long-term, profitable growth."
"It has been a privilege to lead PRA Group through this transformative time in the company's history," said Atal. "Since March 2023, I have worked closely with Martin, and I am highly confident in his ability to further strengthen our global leadership position. His strong track record in our European business, extensive industry knowledge, thoughtful leadership and commitment to our culture and customers will build on our strengths and create meaningful value for our shareholders in the years to come."
"I am honored to have the opportunity to lead PRA Group as we enter our next phase of growth," said Sjolund. "As a team, we have already achieved record global portfolio purchases and double-digit cash growth, expanded our leadership team, improved operational processes and strengthened our capital structure. These actions have positioned us to continue driving the company forward while delivering value to our shareholders."
About Martin Sjolund
Sjolund has served as President of PRA Group Europe since 2018, providing leadership across 15 markets in Europe, Canada and Australia. During his tenure, Sjolund oversaw nearly $3 billion of successful portfolio investments across Europe, all while significantly improving the profitability of the European business. He led our expansion into two new markets, modernized the IT infrastructure and contact platforms, enhanced the data and analytics function and ultimately created one of Europe's most cost-efficient debt buying platforms.
Before being promoted to his current role, Sjolund served as Chief Operating Officer of Europe from 2015 until 2018. He was previously Director of Group Strategy and Corporate Development (Europe), a position he also held at Aktiv Kapital from 2011 until PRA Group acquired Aktiv Kapital in 2014.
Prior to joining Aktiv Kapital, Sjolund held leadership positions in global technology companies and was a management consultant with McKinsey & Company in Singapore and London. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University.
About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
Elizabeth.Kersey@PRAGroup.com
Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
PRA Group Announces Leadership Succession Plan
HONG KONG, April 13, 2025 /PRNewswire/ -- The Hong Kong Applied Science and Technology Research Institute (ASTRI) showcase a diverse range of emerging solutions for smart city innovation at the third edition of InnoEX, running from 13-16 April at the Hong Kong Convention and Exhibition Centre. ASTRI's technologies on display include advancements in the low-altitude economy (LAE), smart manufacturing, smart mobility, and smart pharmacy, underscoring Hong Kong's growing influence in the global innovation and technology (I&T) arena.
Driving I&T Collaboration
As Hong Kong's leading R&D centre, ASTRI remains steadfast in its mission to accelerate I&T commercialisation, supporting industry transformation and enhancing operational efficiency, said Ir Sunny Lee, Board Chairman of ASTRI. "At InnoEx, we engage with high-quality potential partners from home and abroad, exploring future partnerships through our cutting-edge, market-ready solutions," he said. "ASTRI celebrates its silver jubilee in 2025. To mark this milestone, we have set up a 'time-tunnel' at our booth to reflect on ASTRI's achievements over the past 25 years. As we enter a golden era for I&T development, we remain committed to leveraging technology for societal advancement, enabling smarter living and driving the development of new quality productive forces in Hong Kong."
Ir Chris Chong, Acting CEO and Chief Operating Officer of ASTRI said ASTRI's award-wining technologies have been well-received by the industry. To date, ASTRI has been granted 1,100 patents and has completed 1,500 technology transfers. "We are excited to exhibit at InnoEX once again to showcase our R&D outcomes. We look forward to fostering deeper collaborations among the government, industry, academia, researchers and investors. By working together, we can expedite the journey of I&T breakthroughs from laboratory to the market, further solidifying Hong Kong's position as a global I&T hub."
Showcasing Cutting-Edge Technologies
InnoEX is jointly organised by the Innovation, Technology and Industry Bureau of the HKSAR Government and the Hong Kong Trade Development Council (HKTDC). As Asia's flagship I&T event, it has attracted distinguished visitors, including government officials and industry leaders keen to explore Hong Kong's thriving I&T ecosystem.
Visitors to ASTRI's booth (3C-E03) in Hall 3C are introduced to an impressive array of pioneering technologies that promise to transform industries and enhance quality of life. These include:
Championing Innovation at the Forum
As a panellist at the "Tech-Driven Industry and Economy Conference Powered by HKSARG OASES" this morning, Ir Chris Chong shared insights into ASTRI's successful R&D projects and demonstrate how technology transfer and commercialisation are turning innovative ideas into market-ready solutions. Tomorrow (14 April), he will take the stage as the moderator for the Innovation Forum: France-Hong Kong Shaping Green Efficiency, Smart Mobility & Digital Transformation, organised by Consulate General of France in Hong Kong & Macau and Business France, to explore the role of technology in shaping future smart city.
Promoting Cross-Sectors I&T Partnership
InnoEX is running concurrently with the HKTDC Electronics Fair (Spring Edition). The two fairs bring together 2,800 exhibitors from 29 countries and regions, attracting global visitors to facilitate collaboration and knowledge exchange across industries.
ASTRI Corporate Website – https://www.astri.org
InnoEX - https://www.hktdc.com/event/innoex/en
Photos Download: https://bit.ly/3FT2kGA
About ASTRI
Hong Kong Applied Science and Technology Research Institute (ASTRI) was founded by the Government of the Hong Kong Special Administrative Region in 2000 with the mission of enhancing Hong Kong's competitiveness through applied research. ASTRI's core R&D competence in various areas is grouped under five Technology Divisions: Advanced Electronic Components and Systems; Artificial Intelligence and Trust Technologies; Communications Technologies; Intelligent Perception and Control Technologies, and IoT Sensing and AI Technologies. It is applied across six core areas which are Smart City, Financial Technologies, New Industrialisation and Intelligent Manufacturing, Digital Health, Application Specific Integrated Circuits and Metaverse.
Over the years, ASTRI has nurtured a pool of research, I&T talents and received numerous international awards for its pioneering innovations as well as outstanding business and community contributions. ASTRI has transferred more than 1,500 technologies to the industry and has been granted over 1,100 patents in the Mainland, the United States, and other countries. For further information, please visit www.astri.org.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
InnoEX Opens Today, ASTRI's Latest Low-altitude Economy Innovations on Display
InnoEX Opens Today, ASTRI's Latest Low-altitude Economy Innovations on Display
InnoEX Opens Today, ASTRI's Latest Low-altitude Economy Innovations on Display
InnoEX Opens Today, ASTRI's Latest Low-altitude Economy Innovations on Display
