Proposal from the IBS Nomination Committee
In preparation for the 2007 Annual General Meeting (AGM), the IBS Nomination Committee has completed its proposal for the composition of the board. The committee proposes re-election of the board members Lars Nyberg and Johan Björklund and new election of Vinit Bodas, Jan Jacobsen, Gunnel Duveblad and Pallab Chatterjee. In addition, it is proposed that Lars Nyberg be re-elected as Chairman of the Board of Directors.
Lars Nyberg, Chairman of the IBS Board of Directors and member of the Nomination Committee, comments on the proposal to the AGM.
“During 2006, the shareholder structure of IBS changed significantly. Following the decision from the AGM in May 2006, IBS appointed a nomination committee during the fourth quarter 2006 with members representing the four largest shareholders. The new committee’s proposal is based on an extensive discussion and selection process of the profiles and composition needed in order to govern and support IBS in its current challenges with continued internationalization, industry specialization and outsourcing efforts in order to reach its short- and long-term targets.”
Biographies of the proposed new board members:
Vinit Bodas, 41, is currently Chief Investment Officer for Deccan Value Advisors. He was previously partner in Brandes Investment Partners in San Diego, California in the US. His educational merits include Master and Bachelor degrees in Commerce from University of Pune, India and an MBA from the University of Texas.
Jan Jacobsen, 56, currently works as an independent consultant and is a Board member of Case Investment AB, RAM ONE AB and Teknik Magasinet Holding Nordic AB. Jan also holds the position as the Chairman of the Swedish Basketball Federation. Previous professional experience includes over 30 year at H&M Hennes & Mauritz AB which include the position of Chief Financial Officer from 1982 to 2001. His educational merits include a M.S. in Business, Economics & Law from the University of Gothenburg.
Gunnel Duveblad, 51, is currently a Board member of Nordea Bank AB (publ), Lekolar AB and W-Fun AB. Gunnel was previously President of EDS North Europe and has 25 years of experience at IBM including several executive positions. Her educational merits include studies in Computer Science from the University of Umeå.
Dr. Pallab Chatterjee, 56, is currently Executive Vice President and Chief Delivery Officer at i2 Technologies. He has held several executive positions at Texas Instruments, including Senior Vice President of Research and Development. His educational background includes a Bachelor of Technology degree in electronics and communication engineering from the Indian Institute of Technology as well as master's and doctorate degrees in electrical engineering from the University of Illinois.
Shareholders representing approximately 52 percent of the votes in the company have announced that they support the Nomination Committee’s proposal.
The Nomination Committee’s other proposals – election of Chairman for the Annual General Meeting, Board fees and other matters – will be presented in the notice of the Annual General Meeting.
The Nomination Committee consists of Henrik Jonsson (Chairman), Catella Investments, George Ho, Deccan Value Advisors, Måns Larsson, Silver Point Capital, Henrik Strömbom, Case Asset Management and Lars Nyberg, Chairman of the IBS Board of Directors.
For further information, contact:
Henrik Jonsson, Chairman of the Nomination Committee
Tel: +46 (0) 8 463 33 00