People Roundup: North Media, Avito, FDV

We have three stories for you in this week's People Roundup, starting in Scandinavia...

Europe: North Media announces changes to the board

North Media, the Danish media company behind FK Distribution, BoligPortal, Ofir, and Bekey, has announced the resignation of Group CFO Kåre Stausø Wigh, effective immediately.

Wigh had been on sick leave since spring 2025. The Group Executive Board will continue to share CFO responsibilities while the search for a permanent successor begins.

Chairman Ole Borch said:

"We all thank Kåre for his outstanding and dedicated contribution to the Group’s development for 20 years. With diligence and care, Kåre has played a central role in the Group’s finance functions and the teamwork with the Board of Directors."

In a related development, Borch will remain Chairman of the Board until North Media’s 2026 annual general meeting. This extends his tenure by approximately six months beyond the previously planned transition, which had been scheduled for the second half of 2025. As outlined in Company Announcement no. 9-2025, the change was originally coordinated with Baunegård ApS, North Media’s principal shareholder. The extension allows for a delay in the transfer of Baunegård ApS’ majority stake to a new foundation, where Borch is expected to take on the chairmanship.

Avito appoints new Director of Financial Planning

Alexander Chesnokov will take on the role of Director of Financial Planning and Analysis (FP&A) at Avito effective October 1, 2025. He will oversee the company’s financial strategy, budgeting, performance analysis, investment processes, cash flow management, and financial risk oversight.

Chesnokov joined Avito in 2023 and most recently led strategy and cross-category transformation for the Avito Real Estate vertical. His prior responsibilities included defining strategic direction, managing key transaction cases, and overseeing implementation initiatives within the unit.

Chesnokov commented:

"For me, this is a challenging and ambitious task—creating a clear financial plan that can be used by thousands of people. I hope my competencies will strengthen this functional area. The FP&A team at Avito is one of the strongest in the industry; we act as business partners, strengthening and developing the company."

Frontier Digital Ventures Names Patrick Grove Executive Chairman

Frontier Digital Ventures (FDV) has announced a series of leadership changes as it prepares for the transition of co-founder and CEO Shaun Di Gregorio.

Patrick Grove has been appointed Executive Chairman and Lucas Elliott Executive Director, both effective immediately. Di Gregorio will remain CEO until November 30, 2025, after which he will step down and join the board as a Non-Executive Director. The board thanked him for his “leadership, vision and achievements since the Company’s inception.”

Grove and Elliott will together receive A$50,000 per month in base fees and have waived their existing board fees. The company also intends to seek shareholder approval for an equity incentive plan covering both executives. If that plan is not approved, either party may terminate their roles immediately.

Grove said:

“I am excited to step into the role of Executive Chairman alongside Lucas Elliott as Executive Director. Together we will continue to drive FDV’s mission of building and scaling leading digital marketplaces in frontier markets globally. On behalf of the Board, I also thank Shaun for his outstanding leadership since FDV’s inception and look forward to his continued contribution as Non-Executive Director.”