Nobia has appointed Preben Bager as its new Business Unit Manager at Magnet in the UK.

 

Preben Bager is currently the Business Unit Manager at Danish HTH, which is part of the Group. He is also a member of Nobia's Group management as Vice President Operations. Preben Bager has extensive experience of the kitchens industry and retail in many countries. He was appointed Business Unit Manager at HTH in 1992 and has developed HTH into a very successful company.

 

Preben Bager will assume his position with immediate effect and will remain as Business Unit Manager at HTH until further notice. He replaces Gary Favell who has decided to resign from Magnet.

 

"I am very pleased that Preben Bager is assuming responsibility for Magnet. He has done a fantastic job at HTH and his experience from that company will be of great benefit for Magnet. I would also like to thank Gary Favell for his many years of service at Magnet," says Fredrik Cappelen, President and CEO of Nobia.

 

"The strategy for Magnet remains unchanged. The work to upgrade the store network and improve the manufacturing platform continues while the pace of improving efficiency and margins will be accelerated."

 

 

Nobia AB

26 October 2004

 

 

For further information please contact:

 

Fredrik Cappelen, President and CEO, tel. +46 (0)8 440 16 00