Skanska reshapes its organization for future growth and profitability

Skanska reshapes its organization for future growth and profitability Skanska has in four years more than doubled its workforce, close to tripled its sales and gone from four to ten major domestic markets. In order to continue the growth and further strengthen the performance, Skanska will reshape its organization. "Skanska has grown tremendously in the past few years" comments Claes Björk, President and CEO of Skanska. "By connecting the business units closer to the senior executive team, we will be able to respond faster to market trends and changed customer needs. With a management team focusing on the growth and performance of the entire company, we will further strengthen cross-fertilization and synergies across borders." To head Skanska, there will be a Senior Executive Team consisting of CEO Claes Björk, and four Executive Vice Presidents. The team will work closely together, focusing on the entire company's continued expansion into new regions and market segments. They will focus on critical profitability and growth factors, such as talent management, business development and business control systems. Directly reporting to the Senior Executive Team will be 18 business units. The business units consist of construction units in different regions as well as units focusing on project development or new businesses, such as facilities management and telecom (entire list of business units is shown on the attached organization chart). The majority of the business units are similar to the existing organization, i.e. strong, domestic business units with a clearly defined customer base. We have created a few new business units to better manage the relationship with certain customers. In connection with the reshaped organization the following management changes will be made: - Stuart Graham, President of Skanska USA, has been appointed Executive Vice President (EVP) of Skanska. - Mats Wäppling, President of Skanska Project Development and Real Estate, has been appointed EVP of Skanska. - Johan Karlström has been appointed EVP of Skanska. Johan, who presently is COO of Bravida ASA will join Skanska during the second quarter, 2001. Johan worked for Skanska from 1984 to 1995 in leading positions in Skanska Sweden. - Hans Biörck has, as earlier announced, been appointed CFO and EVP of Skanska. Hans will join Skanska during the second quarter 2001. Hans is presently CFO of Autoliv Inc. - Anders Nyrén, CFO and EVP of Skanska, will as earlier announced leave Skanska. Anders has been appointed CEO of Industrivärden. - Per Westlund, presently EVP, will retire in September 2001. Per will until then continue heading Corporate Business Development. - Per-Ingemar Persson, President of Skanska Sweden, has been appointed President of Skanska Denmark. - Anders Elfner, Head of Skanska Building Sweden, has been appointed President of Skanska Sweden. - Anders C Karlsson, President of Skanska Europe, has decided to pursue other opportunities outside Skanska, but he will assist with special assignments mainly within our Telecom Networks business. - Niels Otto Andersen, President of Skanska Denmark, has resigned from his position and will leave Skanska. - For further information please contact: Claes Björk, President and CEO, Skanska AB, Tel +46 8 753 88 00 Tor Krusell, Senior Vice President Corporate Communications, Skanska AB, Tel +46 8 753 87 47 This and previous releases can also be found at www.skanska.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/19/20010219BIT00900/bit0001.doc http://www.bit.se/bitonline/2001/02/19/20010219BIT00900/bit0001.pdf