New Group Organisation at Gränges
New Group organisation at Gränges Fredrik Rystedt new CFO Fredrik Rystedt has been appointed new Chief Financial Officer for the Gränges Group. Fredrik Rystedt will replace Ulf Berglund, who after 20 years as CFO of the Gränges Group will retire as of March, 2000. Ulf Berglund has had a very important role in the transformation of the Gränges Group that has taken place during the last years, ranging from mergers and acquisitions to the floating. Fredrik Rystedt joined Gränges from Electrolux in the beginning of 1998 as Vice President Business Development and has since spring-99 been a member of the Gränges Group Management. Fredrik Rystedt has had several executive positions within the Electrolux Group, including Head of Electrolux Merger & Acquisitions. Fredrik Rystedt, born 1963, got his education at the Stockholm School of Economics. Strengthened Group Management In order to strengthen the company's management, meat the Group's expansion goals and to broaden the organisation, the following changes will take place as of January, 2000: - Business Area Extrusions will be divided into three geographical business regions: - Nordic/The Baltic States - headed by Kåre Wetterberg, President Sapa Sweden - Continental Europe - headed by Francois Coeffic, at present BA Manager Strip & Foil - UK/Overseas - headed by Robin Greenslade, President Sapa Holdings Ltd - Business Area Strip & Foil will, after the divestment of the foil business, become Business Area Heat Transfer Strip, consisting of Finspong Heat Transfer and the recycling business Finspong Aluminium. This BA will be headed by Torbjörn Browall, President Finspong Heat Transfer. - A new function for Business Control Gränges Group will come in place under the management of Kurt Westerlund, today Business Controller BA Extrusions. "Gränges is entering a new phase where expansion with sustainable profitability will be key to success. By broaden the organisation and having the business management closer to the operations, we create the platform necessary for further expansion", says Staffan Bohman, CEO of Gränges. After these changes, Gränges Group Management consists of the following persons: Executive Management: Staffan Bohman (CEO), Claes-R. Simonson (EVP Operations), Fredrik Rystedt (CFO) and Stig Brehmer (EVP Administration). Business Management: Torbjörn Browall (Heat Transfer Strip), Francois Coeffic (Extrusions Continental Europe), Robin Greenslade (Extrusions UK/Overseas), Christer Palm (Autoplastics) and Kåre Wetterberg (Extrusions Scandinavia/The Baltic States). Group Staff Managers: Bo Askvik (Treasury), Cecilia Lager (IR & Communication), Stefan Thorheim (Accounting & Taxes), Kurt Westerlund (Business Control) and Magnus Wittbom (Legal Affairs). For further information please contact Cecilia Lager, IR & Communication, tel +46 70 666 59 41 Gränges is an international industrial group focused on value-added products based on the light materials aluminium and plastics. The products range from extrusions, heat transfer material to components and systems in plastics to the transport industry. The group is one of Europe leading companies within its field serving the customer segments engineering, telecom, transportation and construction. Gränges is quoted on the OM Stockholm Exchange "A-list". Visit Gränges web site on the Internet: www.graenges.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/04/19991103BIT00560/bit0001.doc http://www.bit.se/bitonline/1999/11/04/19991103BIT00560/bit0002.pdf