#USA #Norfolk #PRA Group #Martin Sjolund #Vikram Atal

PRA Group Implements Leadership Succession Plan

PRA Group, Inc. (Nasdaq: PRAA), recognized globally for its expertise in acquiring and managing nonperforming loans, has recently embarked upon a significant leadership transition as part of its ongoing commitment to ensuring sustainable growth.

On April 7, 2025, the company announced that Martin Sjolund, who has been serving as the President of PRA Group Europe, is set to take over as President and Chief Executive Officer (CEO), beginning June 17, 2025. This move comes in light of the planned retirement of Vikram Atal, the current CEO, who will take on the role of senior advisor until December 31, 2025.

Steve Fredrickson, the Executive Chair of the Board, expressed his gratitude towards Atal for his leadership, especially through a transformative era for PRA Group. He acknowledged that the announcement was the result of a careful succession planning process aimed at fortifying the company’s growth trajectory.

In his statement, Atal expressed his pride in leading PRA Group during crucial times and emphasized his confidence in Sjolund's capabilities. Sjolund’s remarkable track record within the European market, coupled with his extensive knowledge of the industry, is expected to further enhance the company’s standing in the global arena. Sjolund acknowledged this opportunity as an honor and reflected on the company's achievements under his tenure, including record global portfolio purchases and significant cash growth.

The Journey of Martin Sjolund

Sjolund's career with PRA Group has been marked by remarkable advancements and accomplishments. Since his appointment as President of PRA Group Europe in 2018, he has overseen operations across multiple markets, including Europe, Canada, and Australia, while facilitating nearly $3 billion in profitable portfolio investments. Under his leadership, the European business not only achieved profitability but also expanded its footprint into new markets, demonstrating strategic foresight and adaptability.

Sjolund’s previous roles within the organization included serving as the Chief Operating Officer for Europe from 2015 to 2018, where he was pivotal in implementing effective operational strategies. His early career included strategic roles at notable companies such as McKinsey & Company in both Singapore and London, providing him with the critical insights needed to navigate the complexities of the financial sector.

With an MBA from the University of Chicago and a degree from Georgetown University under his belt, Sjolund brings a wealth of academic and practical expertise to his new position, which is vital in steering PRA Group through the next phase of its evolution as an industry leader.

A Vision for the Future

In response to this leadership transition, Sjolund outlined his vision for the future of PRA Group, focusing on maintaining the company’s trajectory of growth while enhancing shareholder value. He pointed out the importance of further strengthening both the operational processes and capital structure of the company, ensuring it remains resilient and adaptable to market changes.

As the company gears toward this leadership transition, it is a significant moment not just for PRA Group, but for the industry at large, with Sjolund’s expertise and vision expected to craft a robust strategy that will guide the organization towards achieving greater heights in the coming years.

PRA Group’s ongoing commitment to providing valuable services to creditors and supporting customers in resolving debt through collaboration highlights its dedication to remaining a trusted financial partner. This leadership change not only marks a new chapter for the company but also emphasizes its dedication to innovation and excellence in the financial services landscape.

For further details about PRA Group and its leadership announcements, please visit www.pragroup.com.