The board of Litium AB has decided to appoint Martin Billenius as the new CEO of the company. Martin, who has been a board member of Litium since 2023, has a solid background as Chief Revenue Officer at the global SaaS company Medius. He has extensive industry experience and, in his most recent role, was responsible for globally building and scaling a business into Sweden’s largest SaaS company with a multi-billion revenue.
Patrik Settlin, who has served as CEO of Litium since 2020, has informed the board on Feb 3 that he will step down from his role. He will remain in the company for the transition period until the summer of 2025.
"I have business ideas and opportunities that I have long wanted to explore. Over time, this desire has grown stronger, and now feels like the right moment to take the leap. Litium is in a strong position—we have made great progress, but the journey has only just begun. Passing the baton at this stage, when the company is entering its next growth phase, feels absolutely right. I care deeply about the company and our fantastic employees, and handing over to Martin feels very reassuring. I am confident that he is the right person to take Litium to new heights," says Patrik Settlin.
Under Patrik Settlin’s leadership, Litium has nearly doubled its revenue and achieved profitability. The company has also established a strong customer base with leading brands and secured a prominent position in attractive market segments. Today, Litium is one of the largest digital commerce platforms in the Nordics.
"A huge and heartfelt thank you to Patrik and the entire organization for the impressive work accomplished over the past five years. The company has made significant progress and now stands on a solid foundation for future challenges. Perfect timing is rare, but in this case, we couldn’t have hoped for a better solution—welcoming Martin as the new CEO is a dream scenario for Litium’s continued development," says Johan Rutgersson, board member of Litium.
Martin Billenius will assume the role of CEO on February 14, 2025, and will simultaneously step down from his position on the board.
"I am incredibly excited and proud to lead Litium into its next phase. The company has a strong product and great potential in the global B2B market. From the very beginning, I recognized Litium’s immense potential, and I believe that by refining our offering and daring to invest more in international markets, we can achieve even greater success over time. I look forward to building on what has already been accomplished and driving our growth forward together with the team, our customers, and our partners," says Martin Billenius, incoming CEO of Litium.