Change of President at AGA

CHANGE OF PRESIDENT AT AGA AGA's President, Lennart Selander, has agreed with the Board of Directors to retire from his position when he reaches the age of 60, in February 2000. The process of recruiting a successor has been initiated and is expected to be finalized during the autumn this year. The period immediately ahead will be utilized actively to strengthen the organization's focus on profitability while the Board's analysis and evaluation of AGA's future strategy towards increased concentration in terms of both products and markets will be intensified. The Manufacturing Industry and Process Industry business areas, which produce industrial gases and account for approximately 85% of AGA's sales, will be merged with production operation Supply, with geographical delegation of responsibility for earnings, essentially along the lines of the current regional organization. The Healthcare business area, which produces and sells gases for medical applications and accounts for approximately 15% of sales, will be further developed as an increasingly autonomous operating area, in view of the operation's special know-how requirements and the need for development work in the pharmaceuticals area. The Group's head office staff functions will be coordinated and assigned service and policy-forming responsibilities. Details of the organizational changes and information regarding personnel changes will be provided on June 8, by which time the new organization and codetermination negotiations are expected to be completed. The Chairman of the Board Sverker Martin-Löf and AGA's President Lennart Selander will be available to answer questions at 11 a.m. today at IVA (the Johnson Room), Grev Turegatan 16, Stockholm. For further information please call: Sverker Martin-Löf, Chairman +46-8-788 5151 or Lennart Selander, President +46-8-731 1943 Lidingö June 1, 1999 AGA Aktiebolag (publ) The Board of Directors ------------------------------------------------------------ Please visit for further information The following files are available for download: