Vice President leaves Glocalnet - becomes CEO for Wavium

Vice President leaves Glocalnet - becomes CEO for Wavium Glocalnet's Vice President and former Chief Financial Officer, Mikael Hedlöf, has today announced that he has accepted an offer to become CEO for Wavium, supplier of optical networks, and will be leaving his position at Glocalnet. He will remain at Glocalnet until August, when he begins his new position at Wavium. "I have worked at Glocalnet since 1998. It has been a fantastic period and very exciting. For some time now, however, I have felt that I would like to take on total responsibility in the role of CEO. I have recently received such an offer from Wavium, an interesting company within solutions for optical networks. The timing is right now that Glocalnet's new business plan is final, the question of financing is solved and a new Chief Financial Officer has been appointed", says Mikael Hedlöf. "Mikael has been a part of the building up of Glocalnet. Of course we are sorry that he will be leaving us, but wish him all the best of luck with his new job", says Stefan Krook, Glocalnet's CEO. Mikael Hedlöf left his position as Chief Financial Officer of Glocalnet in connection with the introduction of the new business plan in March 2001, and is succeeded by Tomas Ljunglöf, former Business Control Manager at Compaq Computer AB. Glocalnet develops and markets telecom services-for fixed and mobile telephony plus the Internet-to private individuals. Glocalnet is Sweden's only provider capable of offering these services with an integrated bill, customer service function and self-service www portal. Activities are pursued through two business areas: Glocalnet Service Provider, Sweden's third-largest private fixed telephony operator, offers Glocalnet-branded telecom services direct to consumers, and Glocalnet Service Operator, which offers turn-key telecom operation solutions to other corporations-virtual operators-who want to launch proprietary branded integrated telecom offerings. Glocalnet is headquartered in Stockholm, Sweden; its stock is quoted on the Stockholm Stock Exchange O-list. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/16/20010516BIT00970/bit0003.doc http://www.bit.se/bitonline/2001/05/16/20010516BIT00970/bit0003.pdf