Åke Svensson resigns as President of Saab on September 1 and takes up a position as President of the Association of Swedish Engineering Industries

Åke Svensson, President and CEO of the defence and security company Saab, is appointed President of the Association of Swedish Engineering Industries. He takes up his new position on September 1, 2010, and will remain as President and CEO of Saab until then.

The recruitment of a new President and CEO for Saab begins immediately. The annual general meeting on April 15, 2010 will suggest that Åke Svensson remains a Member of the Board of Saab. ”Saab’s yearly export has more than doubled during Åke Svensson’s time as President, from just below SEK 8 billion in 2003 to SEK 17 billion in 2009. This has taken place at the same time as sales to Sweden decreased from approximately SEK 9.5 billion to SEK 7.5 billion, mainly due to Sweden cutting orders to the Swedish defence industry,” says Marcus Wallenberg, Chairman of the Board of Saab. ”My years with Saab have been fantastic. I’m now looking forward to becoming President of the Association of Swedish Engineering Industries – an important assignment for Swedish industry,” says Åke Svensson, President and CEO for Saab. The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on February 19 at 08.00.

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