Stefan Tilk leaves the position as Managing Director and CEO

Geveko has in 2011 focused on efficiency improvements and synergy between the Group’s units while the majority of cost saving measures have been taken to adjust to declining market conditions in Central Europe. An improvement of the market situation on these markets has unfortunately not materialized, why the decision was taken in December 2011, as previously announced, to divest loss-making contracting companies. The UK operation was divested in February. The divestment of contracting operations in Central Europe enables greater focus on continuing operations which include Business Area Geveko Material and Contracting Nordic where efforts to protect the operational synergies have generated positive results.

With the completion of divesting contracting activities in Central Europe a less complex group structure remains which will not require the current number of senior positions at Headquarters. Stefan Tilk will therefore leave his position as Managing Director and CEO on April 27. At the Geveko Annual General Meeting on April 26 Stefan Tilk is proposed for election as member of the Board. Stefan Tilk will enter on the position as Senior Vice President at Volvo Bus Corporation in Göteborg, Sweden. Göran Eklund, CFO, has been offered and accepted to take up the position as CEO as from April 27. Göran Eklund will continue to hold the position as CFO.

“Thanks to the great efforts of very dedicated and lojal staff we achieved improved results within Business Area Geveko Material and Contracting Nordic. 2012 has started with a very good number of orders for materials and signed contracting contracts in the Nordic countries. With the adopted strategic direction and positions of market leadership on several markets Geveko has very good prospects of achieving positive results in 2012 and onwards” says Stefan Tilk.

Göteborg, Sweden April 10, 2012

AB GEVEKO

For further information
Stefan Tilk, Mobile no. +46 702 499419
Göran Eklund, Mobile no. +46 727 325054

This information is such that Geveko must disclose in accordance with the Securities Markets Act. The information was submitted for publication on April 10, 2012 at 10.00  

AB GEVEKO (plc) Reg.no.: 556024-6844                   
P.O. Box 2137, SE-403 13 Göteborg, Sweden
Phone +46 31 172945 info@geveko.se www.geveko.se