Eleiko Appoints New Chairman of the Board

As a leading global brand in the strength equipment sector, Eleiko Group is embarking on a new, exciting phase of investment and growth. To boost the initiatives, Magnus Welander, until recently CEO at the sport & outdoor equipment company Thule, has been appointed as Chairman of the board of directors. Welander’s many years of experience heading international growth companies will be a major asset as the Swedish family-owned business steps up a gear, bolstering product development and growing its global presence.

“We are delighted to welcome Magnus to Eleiko. His experience in building strong international companies in the premium segment will significantly strengthen our skillset. Magnus´ proven track record of delivering sustainable growth through strategic investments in product development and brand building is especially welcomed given the journey that Eleiko is on. Together with current board member Göran Westerberg, CEO of the Swedish publicly listed retailer Rusta, and representatives from the owner family Blomberg, we have a highly competent board of directors that will help us to further strengthen our position as the world´s number one strength company.”, says Erik Blomberg, CEO of Eleiko.

Magnus Welander joins Eleiko following 14 years as CEO of Thule Group, a world-leading sport & outdoor equipment company that has accomplished impressive growth under his leadership, with a strengthened brand presence and several new product segments. An engineer by education, Magnus has worked in a variety of management roles in international companies, including Tetra Pak and Envirotainer. He is also the Chairman of the board at the groundbreaking helmet technology company Mips and interior decoration company Embellence Group as well as board member of Hestra Gloves, a world leader in premium sport gloves, and Herenco.

Eleiko’s leadership reached out when Magnus stepped down from his CEO role at Thule, and former Eleiko chairman Göran Ydstrand departed after completing a successful four-year tenure at the helm. After meeting the company’s family owners, board and management, Welander was eager to take on the role as Chairman of the board.

“The Blomberg family and the team at Eleiko have done a fantastic job for decades and I have been impressed with their vision and passion for offering premium strength training equipment and education that help people get stronger in sport and in life,” says Magnus Welander. “I’m excited to contribute to the development journey the company is embarking on – a feeling that has only grown stronger after spending time with the company’s owners, board, and management. There’s a sense of openness and engagement here, and most of all, from observing the culture it is clear that we share the conviction that business works best when heart and brain are working in tandem, and when you’re all having fun along the journey.”