Peter Wågström appointed next President and Chief Executive Officer of NCC
The Board of Directors of NCC AB has appointed Peter Wågström as the next President and Chief Executive Officer of NCC. Peter Wågström, aged 46 years, will assume his new position in connection with the Annual General Meeting on April 13, 2011. He will succeed Olle Ehrlén, who will retire during 2011. Peter Wågström is a graduate engineer and is currently president of the NCC Housing business area, which focuses on residential development.
“I would like to thank Olle Ehrlén for the great work he has done during his four years as President and Chief Executive Officer of NCC. He has led NCC through one of the most difficult periods in the company’s history, including the financial crisis and the deep recession. At the same time, the company has developed from having weaker profitability than its competitors to being ranked among the best,” says Tomas Billing, Chairman of the Board of NCC.
“With Peter Wågström as President and Chief Executive Officer, NCC will have an experienced leader. He is particularly skillful at understanding customer needs and is a skilled entrepreneur. Peter Wågström has worked in the construction and property business throughout his professional life. The Board of Directors is convinced that Peter Wågström is the right person to continue the development of NCC in accordance with the established strategy,” says Tomas Billing.
“Being entrusted to succeed Olle Ehrlén will be both enjoyable and exciting. My experience of development operations will favorably complement NCC’s strong tradition as a building contractor. During my seven years at NCC, I have seen the company develop into one of the best companies in the industry. This is an excellent platform to build on,” says Peter Wågström.
Olle Ehrlén, who will turn 62 during 2011, took office as President and Chief Executive Officer of NCC in February 2007, assuming this position after being president of the NCC Construction Sweden business area. He is now retiring after 38 years in the company.
“NCC has successfully survived the recession. We now see growth opportunities and have a strategy for strengthening NCC’s competitiveness in the Nordic region. This is a suitable time to hand over the baton to a younger talent and I am particularly pleased that an internal candidate has been selected,” comments Olle Ehrlén.
For more information, please contact:
Tomas Billing, Chairman of the Board, NCC AB, +46 (0) 8 788 5018
Peter Wågström, forthcoming President and Chief Executive Officer, NCC AB, +46 (0) 8 585 530 40
Olle Ehrlén, President and Chief Executive Officer, NCC AB, +46 (0) 8 585 512 26
NCC:s media line: +46 (0)8 585 519 00, E-mail: press@ncc.se
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on December 20, 2010, at 8 a.m.
All of NCC’s press releases are available on www.ncc.se/en
NCC is one of the leading construction and property development companies in the Nordic region. In 2009, NCC had sales of SEK 52 billion, with 18,000 employees.
