C-Rad Management

Management criteria checks 2/4

C-Rad's CEO is Cecilia de Leeuw, appointed in Dec 2022, has a tenure of 2.08 years. total yearly compensation is SEK2.98M, comprised of 70.4% salary and 29.6% bonuses, including company stock and options. directly owns 0.042% of the company’s shares, worth SEK408.07K. The average tenure of the management team and the board of directors is 2.1 years and 1.7 years respectively.

Key information

Cecilia de Leeuw

Chief executive officer

SEK 3.0m

Total compensation

CEO salary percentage	70.4%
CEO tenure	2.1yrs
CEO ownership	0.04%
Management average tenure	2.1yrs
Board average tenure	1.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Cecilia de Leeuw's remuneration changed compared to C-Rad's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	SEK 58m
Jun 30 2024	n/a	n/a	SEK 54m
Mar 31 2024	n/a	n/a	SEK 48m
Dec 31 2023	SEK 3m	SEK 2m	SEK 36m
Sep 30 2023	n/a	n/a	SEK 24m
Jun 30 2023	n/a	n/a	SEK 20m
Mar 31 2023	n/a	n/a	SEK 12m
Dec 31 2022	SEK 839k	SEK 175k	SEK 7m

Compensation vs Market: Cecilia's total compensation ($USD265.54K) is about average for companies of similar size in the UK market ($USD346.88K).

Compensation vs Earnings: Cecilia's compensation has increased by more than 20% in the past year.

CEO

Cecilia de Leeuw (56 yo)

2.1yrs

Tenure

SEK 2,981,000

Compensation

Ms. Cecilia de Leeuw was Director of Kambi Group plc since May 16, 2019 until May 22, 2024. She is an Independent Director of Net Insight AB (publ) since May 2022. She is Chief Executive Officer of C-Rad A...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Cecilia de Leeuw	CEO & President	2.1yrs	SEK 2.98m	0.042% SEK 408.1k
Linda Frölén	Chief Financial Officer	less than a year	no data	no data
Hakan Axelsson	Chief Operating Officer	5.4yrs	no data	no data
Melinda Perjons	Interim Global Director of Marketing	less than a year	no data	no data
Anna Aman	Human Resource Manager	less than a year	no data	no data
Xiaodong Wang	President of C-RAD China	7yrs	no data	0.12% SEK 1.2m
Ivan Astralaga	President of C-RAD Americas	3.7yrs	no data	no data
Basak Karakus	Executive for Global Digital Marketing	no data	no data	no data

2.1yrs

Average Tenure

56yo

Average Age

Experienced Management: 0R44's management team is considered experienced (2.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Kristina Willgard	Independent Chair of the Board	1.7yrs	SEK 280.00k	0.030% SEK 291.5k
Mats Thoren	Independent Director	less than a year	no data	no data
Jenny Rosberg	Independent Director	4yrs	SEK 255.00k	0.051% SEK 495.6k
Susanne Ekblom	Independent Director	1.7yrs	SEK 160.00k	no data
Peter Simonsbacka	Independent Director	1.7yrs	SEK 147.00k	no data
David Sjostrom	Independent Director	7.7yrs	SEK 220.00k	no data

1.7yrs

Average Tenure

58yo

Average Age

Experienced Board: 0R44's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/10 22:08
End of Day Share Price	2024/12/11 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

C-Rad AB (publ) is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Victor Forssell	ABG Sundal Collier Sponsored
Christian Lee	Pareto Securities

C-Rad Management

Management criteria checks 2/4

Key information

Recent management updates

Independent Director recently bought kr190k worth of stock

CEO & President recently bought kr85k worth of stock

C-Rad AB (publ) Appoints Mats Thorén as Board Member

Less than half of directors are independent

Less than half of directors are independent

Less than half of directors are independent

Recent updates

C-Rad AB (publ) to Report Q3, 2025 Results on Oct 23, 2025

Independent Director recently bought kr190k worth of stock

New minor risk - Market cap size

Third quarter 2024 earnings released: EPS: kr0.45 (vs kr0.32 in 3Q 2023)

CEO & President recently bought kr85k worth of stock

Second quarter 2024 earnings released: EPS: kr0.31 (vs kr0.16 in 2Q 2023)

Full year 2023 earnings released: EPS: kr1.05 (vs kr0.22 in FY 2022)

C-Rad AB (publ) Appoints Mats Thorén as Board Member

C-Rad AB (publ) to Report Fiscal Year 2023 Results on Apr 23, 2024

Full year 2023 earnings released: EPS: kr1.36 (vs kr0.22 in FY 2022)

C-Rad AB (publ) to Report Q3, 2024 Results on Oct 23, 2024

Third quarter 2023 earnings released

Investor sentiment improves as stock rises 17%

Less than half of directors are independent

C-Rad AB (Publ) Announces Former Employee Appeals Verdict from the Patent and Market Court of Appeal

New major risk - Earnings quality

C-Rad AB (publ) to Demonstrate Enhancements in Surface Guided Solutions for Advanced Radiotherapy Treatments at AAPM

Second quarter 2023 earnings released

Less than half of directors are independent

Less than half of directors are independent

Less than half of directors are independent

C-Rad AB (publ) to Report Fiscal Year 2022 Final Results on Apr 06, 2023

C-Rad AB (Publ) Appoints Christoffer Herou as CFO

C-Rad AB (Publ) Announces CEO Changes

C-Rad AB (publ) Announces CFO Changes

C-Rad AB (publ) to Report Q3, 2023 Results on Oct 27, 2023

C-RAD Launches New Updated eDucation Portal as an Online Platform

Second quarter 2022 earnings released

Henrik Bergentoft Resigns as CFO of C-RAD

C-Rad Announces CEO Changes

Insufficient new directors

Insufficient new directors

C-Rad AB (publ) to Report Q3, 2022 Results on Oct 28, 2022

C-Rad Achieves Another Milestone Ensuring the Availability of SGRT, the Standard of Care for Radiotherapy

Third quarter 2021 earnings released

Chief Operating Officer recently sold kr625k worth of stock

Second quarter 2021 earnings released

C-Rad AB (publ) Announces The Patent and Market Court Rejected Former Employee Claim for Compensation

The Patent and Market Court of Appeal Issues Judgement Confirming C-Rad's Entitlement to Beamocular's Invention

Full year 2020 earnings released: EPS kr0.43 (vs kr0.45 loss in FY 2019)

C-RAD and Alliance Radiation Oncology Announce That Alliance Has Become the First Center in the Greater Northshore Area to Integrate C-Rad

C-Rad and With-Global Engages in a Partnership for the South Korean Market

C-RAD Receives Order for Proton Cancer Treatment Centers in the US

Shenzhen Proton Therapy Treatment Center Selects C-Rad Catalyst™ System

C-Rad AB (publ) to Report Q2, 2021 Results on Jul 29, 2021

Shanghai Proton and Heavy Ion Hospital Decides for C-Rad Sigrt Solution

Australian Customers Select C-RAD’s Cutting Edge SIGRT Solution

C-Rad AB Receives SEK 11 Million Order for Cutting Edge SIGRT Solution by DTZ in Berlin

Independent Director recently sold kr672.4k worth of stock

Independent Director recently bought kr1.7m worth of stock

Independent Director recently sold kr3.4m worth of stock

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources