Cherry CEO under investigation

In a short industry advisory, Cherry AB has informed of the arrest of chief executive officer Anders Holmgren by the Swedish Economic Crime Authority.

According to the advisory, Holmgren was investigated for insider crime as a result of share trading. He was arrested following a search of Cherry AB’s offices this morning (Tuesday).

“Cherry will fully cooperate with the Economic Crime Authority in the investigation,” the advisory reads.

Chairman of the Cherry Audit Committee, Gunnar Lind, will step in as acting chief executive officer for the duration of the investigation.