Mikael Olsson is leaving the BWG Homes Group

Since 2003, Mikael Olsson has been CEO of BWG Homes AB, the Swedish operation of the BWG Homes Group (BWG), consisting of the companies Myresjöhus and SmålandsVillan. Olsson is leaving BWG to take up a senior position in another company outside the housing sector.

Olsson will leave his position with BWG on 31 December 2013, and will thereafter be at the Group's disposal for a further period of three months. BWG is now starting on the task of recruiting a new head of BWG Homes AB.

"For many years, Mikael Olsson has made a great impact on the Group's Swedish operation. Under his leadership, BWG Homes AB has taken over and maintained the position of Sweden's leading producer of single-family homes. He has also been an active spokesman for the housing sector and a driving force for the importance of predictable framework conditions for both producers and buyers of homes in Sweden. We would like to thank Mikael Olsson for his tremendous efforts for the BWG Group and to wish him success in his new position," says Ole Feet, CEO of BWG Homes ASA.

"After 12 stimulating and engaging years in the Swedish group, the last 10 of them as head of the Swedish operation, it is time to move on to new challenges. Our operation has gone from a 7 per cent market share to 14 per cent. The Swedish market has become stabilised and, bearing in mind the increasing shortage of homes, it is my assessment that BWG Homes AB is well positioned for the coming years, based on our development of new products and within the organisation itself. I wish the organisation and our brands, Myresjöhus and SmålandsVillan, every success in the future," says Mikael Olsson.

Further information from:

Ole Feet, CEO, BWG Homes ASA, tel: +47 900 91 230

Mikael Olsson, BWG Homes AB, tel: +46 70 602 1577

BWG Homes develops, sells and constructs residential homes in the Nordic region. The brands owned by the Group are Block Watne and Hetlandhus in Norway, Kärnhem, Myresjöhus and SmålandsVillan in Sweden. Ranked as a leading residential house builder in its markets, the Group annually completes approx. 2 000 new homes through own residential projects and for individual customers. BWG Homes has 1 080 employees. In 2012 the turnover was NOK 3.5 billion. More information about the Group at www.bwghomes.no/en