⁍ Intrum’s President and Chief Executive Officer Mikael Ericson will leave the company.

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⁍ He will be replaced by Chief Financial Officer Anders Engdahl.

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⁍ Intrum also said it expected its third quarter results to be substantially above the analyst consensus.

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– The chief executive of Europe’s biggest debt collector is leaving the company after four years, Reuters reports. Mikael Ericson will be replaced by Chief Financial Officer Anders Engdahl. “We are very happy to announce that Anders Engdahl, who is an experienced leader and integral part of the company, will take on the role as the new driving force in our company journey,” says Intrum Chairman Per E. Larsson. In a statement, the company said it had agreed with Ericson on the need for new leadership as the company moved into the next phase of its transformation. The Swedish company said in July that it would announce revised financial targets and share information on new efficiency measures in the fourth quarter.