Management Change

CDON Group AB (publ.), one of the leading e-commerce groups in the Nordic region, today announced that Mikael Olander has tendered his resignation as President and Chief Executive Officer to the Group’s Board of Directors. Mikael Olander has a twelve month notice period and will continue in his current role until a replacement has been appointed and he has handed over his responsibilities. A search will be initiated immediately to recruit a suitable successor, as CDON Group moves into the next stage of its development following its demerger from Modern Times Group MTG AB and its listing on Nasdaq OMX Stockholm in December 2010.

Hans-Holger Albrecht, Chairman of the Board of Directors, commented: “I would like to thank Mikael for his eleven years of dedicated service and leadership. He has successfully managed the largely organic development of CDON Group into a leading e-commerce player in the Nordic region, and has overseen the first steps in its international expansion. CDON Group is well-positioned to continue to capitalise on the ongoing migration of retail sales from the high street to the internet, and has established itself as the market leader across four key vertical segments, with a range of well recognised internet stores with broad product assortments.”  

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For more information, please visit www.cdongroup.com or contact:
Hans-Holger Albrecht, Chairman
Tel.:                         +46 (0) 8 562 000 50

Questions from investors and analysts:
Martin Edblad, Chief Financial Officer
Tel.:                         +46 (0) 700 80 75 03
E-mail:                   ir@cdongroup.com            

Press queries:
Fredrik Bengtsson, Head of Communications                              
Tel.:                         +46 (0) 700 80 75 04
E-mail:                   press@cdongroup.com  

About CDON Group

CDON Group is one of the leading e-commerce groups in the Nordic region. Established in 1999, the Group has continuously expanded its product portfolio and is now a leading e-commerce player in the Entertainment (CDON.COM, BookPlus.fi, Lekmer.com), Fashion (Nelly.com, Heppo.com), Sports & Health (Gymgrossisten.com, Bodystore.com) and Home & Garden (Tretti.com, Rum21.se) segments. CDON Group’s nine online stores attracted approximately 115 million site visits and two million unique customers in 2010.

The information in this announcement is that which CDON Group AB is required to disclose under the Securities Markets Act. This information was released for publication at 08:00 CET 15 August 2011.