Managing Director of Cloetta Fazer Sverige Åsa Magnusson leaves post

Åsa Magnusson and the Board of Cloetta Fazer Sverige AB, the Swedish subsidiary of the Cloetta Fazer Group, have agreed that Åsa Magnusson will resign as Managing Director on 30 June 2006.

“I have been Managing Director here for seven years during which time I was responsible for leading the company through two mergers in Sweden, first with Candelia and later between Cloetta and Fazer Confectionery. Both of these mergers were highly successful and have given us a strong position in the Swedish chocolate and confectionery market. Now that the company has entered a new phase of development with a revised organisation, the appointment of a new Managing Director is a natural step,” says Åsa Magnusson. “On my part, I have decided to take the opportunity to meet challenges in a new role. What exactly this will mean is not decided yet – it is something I will consider in the near future”, continues Åsa Magnusson. “I extend my heartfelt gratitude to Åsa Magnusson for her invaluable efforts over the years, particularly her decisive contribution in Sweden towards the successful fusion between Cloetta and Fazer Confectionery. I wish her the best of luck in her future pursuits,” says CEO Karsten Slotte. The process of selecting a successor to Åsa Magnusson is in it’s final stage and Cloetta Fazer will provide additional details later on.