Johan Karlström named new President and CEO

Skanska AB's Board of Directors has appointed Johan Karlström as the new President and Chief Executive Officer of Skanska. He will succeed Stuart Graham, who has previously announced his intention to step down from his position during 2008.

Johan Karlström will assume his duties on April 3, in conjunction with Skanska’s Annual Shareholders’ Meeting 2008. He will be based at the Skanska Group Headquarters in Stockholm (Solna), Sweden.

“I’m pleased to be able to present our new CEO today. The Board has been aware of strong internal candidates, but decided to conduct a thorough internal and external search process to ensure that we would find the best possible person for Skanska,” says Sverker Martin-Löf, Chairman of the Board of Directors, Skanska AB.

“Skanska’s profitability and financial performance has improved significantly under Stuart Graham’s leadership and today Skanska stands stronger than ever. The Board has looked for a successor with equally strong characteristics - a very solid performance record, a genuine personal value base and great leadership skills. Johan Karlström fills all of these requirements and also has extensive experience of Skanska and the industry,” says Sverker Martin-Löf.

Johan Karlström, 51, holds a Master of Science in Engineering. He first joined Skanska in 1983 and has worked in many different positions in the company, ranging from site manager, estimator, project engineer, project manager to regional manager for the Northern Region in Skanska Sweden.

After five years as President and CEO for the listed mechanical and electrical installation group BPA (later Bravida), Johan Karlström joined Skanska again in 2001 and became Executive Vice President and member of the Senior Executive Team (SET). In this position he has among other areas previously been responsible for Skanska’s business units in the Nordic countries and since 2004 he has been responsible for Skanska’s construction business units in the Unites States. He has also been responsible in SET for Skanska’s new Green Construction initiative, with the aim of developing environmentally friendly solutions for Skanska’s customers.

“I’m excited to take on this new role and I look forward to delivering on the targets we have set for the coming years in Skanska. I think we are very well-positioned, with our strong Skanska values and a solid strategy that we will continue to pursue with very dedicated employees around the world. I also foresee great opportunities for Skanska with the increasing focus on environmentally friendly solutions,” says Johan Karlström, designated President and CEO of Skanska.

Stuart Graham will continue to serve Skanska in the role as Chairman of Skanska’s construction business units in the United States, Skanska USA Building and Skanska USA Civil, and as an advisor to the CEO and Skanska AB Board of Directors.

Press conference and background information
A press conference presenting the appointment of Johan Karlström as new CEO and Skanska’s Year-End Report 2007 will take place today at 11.00 at IVA Conference Center, Grev Turegatan 16, in Stockholm. The presentation of the new CEO will be hosted by Sverker Martin-Löf, Chairman of the Board of Directors. The report will be presented by the President and CEO, Stuart Graham, and the CFO, Hans Biörck.

To participate in the telephone conference, please register via
https://eventreg1.conferencing.com/webportal3/reg.html?Acc=486718&Conf=153126

Photos and further background information on Johan Karlström can be found at www.skanska.com/newceo.


For further information please contact:

Sverker Martin-Löf, Chairman of the Board, Skanska AB,
tel +46 70 574 88 08
Anders Lilja, Senior Vice President Investor Relations, Skanska AB,
tel +46 8 753 88 01
Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38
Direct line for media: tel +46 8 753 88 99