Eniro announces Johan Lindgren as new CEO and reviews financial targets

​Eniro’s Board of Directors today announces the appointment of Johan Lindgren to the position of CEO. Johan Lindgren has extensive experience from various CEO and CFO positions and change processes within the media and telecoms sectors. In connection with the appointment, Eniro will conduct a review of the financial targets and an updated outlook statement for 2011 will be presented with the Q3 report, 2010.

During the past two years the conditions for the search directory industry, including Eniro, have changed substantially. The general recession has resulted in a quicker than expected structural decline in demand for printed products, and the financial crisis has impacted on the general funding environment.

“Our strategy remains unchanged, we are determined to continue developing our opportunities, with particular emphasis on online. Jesper Kärrbrink has played a vital role in initializing this process and we are grateful for his contributions during the two years he has been CEO. However, in light of these new financial challenges, the Board of Directors believe it is necessary to appoint a new CEO with relevant experience to implement the strategy. We are confident that Johan Lindgren possesses the skills and experience to lead Eniro through the next step in the transformation” says Eniro’s Chairman Lars Berg.

Johan Lindgren has previously held the position as CEO of Telenor Sweden, which also included the integration of Vodafone and Glocalnet. He has also been CFO of MTG and Metro International (listed on OMX Nordic) for seven years, and participated as CFO in the turnaround of Bredbandsbolaget. Most recently, he served as CFO of Telenor’s operations in India. Johan Lindgren will take up his new position with immediate effect. 

“I am looking forward to this opportunity. The search market is growing and Eniro holds a strong position in its markets. I support the Board of Directors’ strategy, and we now need to create the foundation for the implementation. Key areas are the growth of the online business, review of the cost structure as well as reaching an agreement with the lending banks”, comments Johan Lindgren.

Jesper Kärrbrink, departing CEO of Eniro comments, "It has been two challenging but rewarding years together with fantastic coworkers. I am satisfied at having been a part of laying the foundations for a new, on-line based Eniro. Strategically, Eniro stands stronger today than it has for a long time and I wish the new management future success".

An analyst conference call will be held today at 10.00 CET. Eniro’s Chairman Lars Berg and the new CEO Johan Lindgren will be present during the conference call. Participants should dial-in on:
SWE: + 46 8 505 598 53
UK: +44 203 043 2436
US: +1 866 458 40 87.
The audiocast will also be available via the web at the following link: http://storm.zoomvisionmamato.com/player/eniro/objects/hpzn89fr/

For more information:

Lars Berg, Chairman of the Board +46 8 553 311 14 (reached through Carin Grunder)
Johan Lindgren, CEO +46 8 553 311 14 (reached through Carin Grunder)
Birgitta Henriksson, Acting Head of IR, +46 70 812 86 39

www.eniro.com

Eniro is the leading directory and search company in the Nordic media market. Eniro´s search database connects sellers to buyers and makes it easy to find people using Eniro´s distribution channels Online, Printed directories, Voice and mobile. Eniro has operations in Sweden, Norway, Finland, Denmark and Poland.

Eniro is listed on the Stockholm Stock Exchange and has some 5,000 employees. In 2009, revenues amounted to SEK 6,581 M, with EBITDA SEK 1,807 M.