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

PRA Group's Leadership Transition: A New Era Begins

PRA Group, Inc., a recognized global leader in the acquisition and collection of nonperforming loans, recently announced a significant leadership succession plan. The Board of Directors has appointed Martin Sjolund, currently the President of PRA Group Europe, as the new CEO effective June 17, 2025. This transition marks a pivotal moment for the organization as it gears up for the next chapter of its growth journey.

Transition Details

Martin Sjolund will take the helm from Vikram Atal, the current CEO, who has announced his retirement but will continue to serve as a senior advisor until December 31, 2025. The decision to appoint Sjolund signifies PRA Group's strategic approach towards ensuring continuity and maintaining its leadership position in the industry. Steve Fredrickson, the Executive Chairman, expressed gratitude for Atal's leadership during a transformative period for the company and emphasized the Board's commitment to long-term profitable growth.

“I am honored to lead PRA Group as we embark on our next phase of growth,” stated Sjolund. His leadership experience in the European markets and a track record of achieving impressive portfolio acquisitions and operational improvements make him a suitable choice for this role.

Background on Martin Sjolund

Sjolund has been steering PRA Group Europe since 2018, overseeing operations across 15 markets in Europe, Canada, and Australia. Under his leadership, the European branch witnessed nearly $3 billion in successful portfolio investments, significantly enhancing profitability. His efforts expanded the company’s presence into new markets, upgraded IT infrastructure, and improved analytics capabilities—culminating in creating one of Europe's most profitable debt purchasing platforms.

Before his tenure as President, Sjolund served as the Director of Operations for Europe and also held strategic roles at Aktiv Kapital before its acquisition by PRA Group. His diverse background in tech leadership and strategic consulting has fortified his credentials for leading the company into its next phase. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University.

A Vision for the Future

Atal reflected on his time with PRA Group, acknowledging the collaborative effort that led to record global portfolio purchases and double-digit cash growth. Sjolund's appointment is seen as a continuation of progress as the company aims to further strengthen its market position. The leadership transition was set into motion to ensure that PRA Group not only maintains its competitive edge but also enhances shareholder value in the coming years.

PRA Group remains dedicated to assisting financial institutions in managing nonperforming loans, leveraging its global workforce and expertise to facilitate meaningful debt resolution processes for consumers across America, Europe, and Australia.

For more updates on the leadership transition and future developments, check PRA Group's official website.

Contact Information

For media inquiries, reach out to:
Elizabeth Kersey
Senior Vice President of Communications and Public Policy
(757) 641-0558
[email protected]

For investor-related questions, contact:
Najim Mostamand, CFA
Vice President of Investor Relations
(757) 431-7913
[email protected]