Corporate Finance

Corporate Finance - New organization In order to further streamline the organization and enhance the overall efficiency, the function Corporate Finance has been reorganized as follows: The current departments Group Accounting, Global Tax Planning, Parent Company Accounting & Administration and Financial Planning & Control will form a new department: Corporate Control. Corporate Control will co-ordinate from a Group point of view: - all consolidated financial reporting, i.e., monthly, quarterly and annual reports - internal as well as external reports - budgeting and forecasting process - development of financial reporting systems - analysis / follow-up of operational results - capital expenditure follow-up and analysis - compliance with and development of accounting guidelines - all tax issues - parent company accounting and administration - auditing and US GAAP reporting Corporate Control will be headed by Bertil Raihle. Per Melker has been appointed deputy manager for this department. Bertil will dedicate most of his time on external reporting, i.e interim reports, annual reports, auditing and US GAAP reporting, tax issues and accounting guidelines. Per will focus more on the internal reporting, analysis and follow-up, budgeting and forecasting and development of systems. The current heads of Global Tax Planning and Financial Planning & Control, Ad Mombers and Fredrik Lagerbielke will be members of the new department. They will continue to focus on their existing tasks in addition to new assignments within Corporate Control. The current departments Investor Relations, IT and Treasury remain unchanged and are headed by Boel Sundvall, Tord Jarelöv and Jan Arpi, respectively. I hope you all join me in wishing everyone good luck in their new and challenging positions. th Stockholm, January 14 , 1999 Sven Hindrikes ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/01/15/19990115BIT00260/bit0001.doc http://www.bit.se/bitonline/1999/01/15/19990115BIT00260/bit0002.pdf