Johan Padel new CEO of Setra

Johan Padel has been appointed as Setra’s new President and CEO. He will succeed Börje Bengtsson who is retiring in the autumn.

Johan Padel, 45, is currently Managing Director of Moelven Timber, which is part of the Norwegian-owned Moelven Group, His previous positions include Managing Director of IKEA’s subsidiary Swedwood Latvia Ltd and Managing Director of AssiDomän Hasselfors Trä AB. Johan Padel also has many years of experience from the marketing side of the wood products industry.

“We are very pleased to have recruited Johan Padel as our new President and CEO,” says Setra’s Chairman Håkan Ahlqvist. “He has broad and sound experience of the industry, is in touch with the business, energetic and has documented team-building skills.”

“During his three years at Setra, Börje Bengtsson has carried out a major change programme designed to build long-term profitability through clear, decentralised profit responsibility. With Johan Padel’s background and expertise this direction will be continued with a greater focus on market and sales issues,” says Ahlqvist.

“I am looking forward to the challenge and the continued work of further developing one of Sweden’s largest wood products companies,” says Johan Padel. “Setra is today a stable company with well-run production units. I am convinced that the wood products industry is heading for a positive future and that Setra has the potential to take a leading position in that journey.”

“It feels comfortable to hand over the baton to Johan Padel,” says Börje Bengtsson, current President and CEO of Setra. “In addition to his thorough experience of the industry, he also essentially shares my basic values about corporate governance. The focus, to increased profitability through decentralisation and local involvement in the business, will definitely continue under Johan’s leadership.”

Johan Padel will take up his new position in summer 2012. The exact date has not yet been decided.

For further information, please contact:

Håkan Ahlqvist, Chairman of the Board, mobile +46 706 56 54 72

Börje Bengtsson, President and CEO, telephone: +46 8 705 03 10, mobile: +46 708 28 49 87

Johan Padel, incoming President and CEO, mobile +47 415 406 45

PICTURE of Johan Padel can be downloaded from Setra’s website: www.setragroup.com/newceo

Setra is one of Sweden’s largest wood products companies and a leading player in Europe. We offer eco-certified wood products for interiors and construction to customers in the building materials trade and industry.

The Group has 1,000 employees and annual sales of approximately SEK 4.5 billion. Exports to Europe, North

Africa, the Middle East and Japan account for almost 60% of sales. Read more at www.setragroup.com

Press contact: Lotta Löwhagen Lundberg, lotta.lowhagen.lundberg@setragroup.com, +46 70 654 13 44

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