The Board of Directors of Addtech AB has appointed Johan Sjö to serve as new President and Chief Executive Officer of the Company effective as of 1 January 2008. The current President, Roger Bergqvist, will remain in his position until then. Thereafter Roger Bergqvist will be active in the Addtech Group in development and strategy issues.
Johan Sjö has been a member of group management at B&B TOOLS since 2003, where he was President of B&B Development and a driving force in the group's expansionary phase, which during the past year included the acquisition of some 40 companies. B&B TOOLS, with annual revenue of SEK 8.2 billion, supplies the industrial and construction sectors in northern Europe with tools, industrial consumables and industrial components and kindred services. During the years 1994 - 2002 Johan Sjö was active at Alfred Berg, in areas such as analysis and corporate finance. Johan Sjö is 40 years old and has a degree in economics from the School of Economics at Växjö University.
"Approaching his 60th birthday, Roger Bergqvist has taken the initiative to change his work situation," says Anders Börjesson, Chairman of Addtech AB. "Roger has been a crucial force behind Addtech's establishment as a listed company and the positive development of the Group since the listing in 2001. My colleagues on the Board of Directors and I are therefore pleased to be able to meet with Roger's wishes. The Board of Directors is convinced that Johan with his solid experience in trade and industry is the right person to take on the job of further developing the successful business that is today's Addtech."
Stockholm, 27 August 2007
For further information, contact:
Anders Börjesson, Chairman, Addtech AB, +46 8 470 49 00 Roger Bergqvist, President, Addtech AB, +46 8 470 49 00
Johan Sjö +46 70 799 40 44
Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 2,900 employees in more than 130 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 10 billion. Addtech is listed on Nasdaq Stockholm.