Peter Ragnarsson - AudioDev's new CEO

Peter Ragnarsson - AudioDev's new CEO Peter Ragnarsson, currently CEO of Axis AB, has been chosen as the new CEO of AudioDev. Mr Ragnarsson will take up his duties by the 15th of August at the latest, and will succeed Jan Barchan, the principal shareholder of AudioDev, who has successfully been leading the company for the past 12 years. During this time the company's sales figures have grown from 5 million to over 200 million SEK. AudioDev was listed on the Swedish Stock exchange in September 2000 and at the same time Jan Barchan stated that this introduction was a preparation for a change of CEO. "The time is now right to make that change", says Jan Barchan, who also announces his intention to retain his ownership of about 60% of the company for the time being. His ambition, when the time is right, is to reduce his ownership in AudioDev to around 30%. For more information about this press release, please contact: Sven Ohlsson, Chairman of the board, AudioDev AB Tel. +39-0577-349363 Mobile. +46 (0)708-475301 E-mail: s.e.ohlsson@telia.com Jan Barchan, President & CEO, AudioDev AB Tel: +46 (0)40-690 49 00 Mobile: +46 (0)708-287187 E-mail: jan.barchan@audiodev.com Peter Ragnarsson, President & CEO, Axis AB Mobile: +46 (0)708-901811 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/28/20030128BIT00220/wkr0002.pdf