Valinge Says Pervan Family Wins Control of Firm

Viken, Sweden, Feb. 11, 2011 -- The Pervan family has apparently won its battle for control of Valinge, according to a company press release.

According to the release, Nordstjernan, which owned 50% of the joint holding company, attempted to oust CEO Darko Pervan and replace him with Bobby Markovski at a special board meeting of holding company Välinge Flooring Technology.

The release said that Tomas Billing, Nordstjernan's CEO and the chairman of Välinge Flooring Technology's board, arranged and held a board meeting on Jan. 31 without Välinge Invest's representatives, where a number of aggressive decisions were taken, including the suspension of Darko Pervan as Välinge's CEO. 

Välinge Invest is controlled by the Pervan family.

Valinge said an investigation determined that the board meeting was illegal so the decisions to suspend Darko Pervan and to appoint Markovski as acting CEO were invalid.

Valinge also said that Nordstjernan's representatives have resigned from the board of Välinge Flooring Technology and the law firm appointed by Nordstjernan's representatives to assist the board has resigned.