NEW CHAIRMAN AND BOARD MEMBER PROPOSED FOR MUNTERS GROUP

The shareholders represented in Munters Group’s (MTRS) Nomination Committee have proposed Magnus Lindquist to replace Christopher Curtis as Chairman of the Board of Munters Group and Johan Ek to replace Joakim Karlsson as Board member. The election of new Board members is expected to be held at an Extraordinary General Meeting in December 2018.

The shareholders represented in the Nomination Committee of Munters Group have proposed that Magnus Lindquist and Johan Ek be elected new Board members. Christopher Curtis, Chairman of the Board, and Joakim Karlsson, board member, will step down. Munters Group expect to hold an Extraordinary General Meeting in December 2018.

Magnus Lindquist, born in 1963, has more than 20 years of experience from senior positions in global industrial companies, foremost as Group Vice President and CFO at Autoliv and Perstorp Group. Mr. Lindquist has also significant board experience having served as Chairman of Norma, Ambea, Alimak and Polygon as well as Board member of Bravida, Mycronic and Ovako and currently holds the position as Chairman of the Board of Ryds Bilglas. In addition, he has worked as professional investor in private equity as a Partner of Triton and has been on the Axcel Advisory Board with a focus on industrial goods and services. Magnus has studies in business administration at the Stockholm School of Economics. 

Johan Ek, born in 1968, has extensive experience of management positions and Board work and is currently Chairman of the Board of Sunrise Medical and has also served as Chairman in Handicare, Saferoad and Corob Engineering and as Board member of Acino and Ramirent. Mr. Ek has also been the President and CEO of Relacom and President at Powerwave Technologies Inc and the industrial niche group LGP Allgon. Johan holds an MSc in Economics from the Hanken School of Economics in Helsinki, Finland. 

"The shareholders represented in the Nomination Committee are very pleased to be able to propose the election of Magnus Lindquist as Chairman of the Board of Munters Group and Johan Ek as a new Board member and at the same time thank Chris and Joakim for their contributions to the Board. In time of change we have in agreement with Chris decided that the company needs a Chairman based in Europe”, says Robert Furuhjelm, Partner at the advisor to Nordic Capital Fund VII and Chairman of the Nomination Committee of Munters Group. 

Robert Furuhjelm continues, “We strongly believe in Munters long term potential and the ability to develop their strong position in a growing global market. However, there are at the moment issues that need to be addressed in order to improve growth and profitability and at the same time challenges and restructuring activities in the Data Center business. For this the management and the Board have a clear agenda, of which the appointment of Magnus Lindquist and Johan Ek is the first step. We have strong confidence in their ability to drive this forward in the right direction. Magnus´s and Johan´s broad industrial experience of change programs and international expansion in both senior operational positions as well as Board members will be valuable for Munters value creation going forward”.

The shareholders represented in the Nomination Committee are Nordic Capital Fund VII, FAM AB, AMF Insurance and Funds and Första AP-fonden. Robert Furuhjelm (representing Nordic Capital Fund VII) is Chairman of the Nomination Committee. Nordic Capital Fund VII, FAM AB, AMF Insurance and Funds and Första AP-fonden hold in aggregate around 75% per cent of the shares and votes in Munters Group.

The shareholders represented in the Nomination Committee have requested that the Board of Munters Group convenes an Extraordinary General Meeting in December 2018 to consider the election of Magnus Lindquist as the new Chairman of the Board and Johan Ek as a new Board member in Munters Group.

Munters Group intends to shortly issue a notice to convene an Extraordinary General Meeting.

This information is information that Munters Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 24.00 CET on 18 November 2018.

For more information: 
John Womack, Investor Relations
Phone: +46 706 782499

Robert Furuhjelm, Chairman of the Nomination Committee of Munters Group 
Phone: +46 8 440 5050

About Munters Group  

Munters is a global leader in energy efficient air treatment and climate solutions. Using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries, the largest being the food, pharmaceutical and data center sectors. Munters has been defining the future of air treatment since 1955. Today, around 3,900 employees carry out manufacturing and sales in more than 30 countries. Munters reports annual net sales in the region of SEK 7 billion and is listed on Nasdaq Stockholm. For more information, please visit www.munters.com