Lars G Josefsson new President and CEO of Vattenfall

Lars G Josefsson new President and CEO of Vattenfall Vattenfall's Board has appointed graduate engineer Lars G Josefsson as the President and CEO of Vattenfall AB. He will take up his post in the middle of August. Lars G Josefsson, who was born in1950, has experience in both the telecom and defence industries. He held management posts in Ericsson over a period of 20 years. In his final five years at the company he was President of Ericsson Austria with responsibility for Ericsson's overall operations in Austria, Poland, the Czech Republic and several other neighbouring countries. Since 1997 and up to the merger with SAAB, he has been President of Celsius AB. The Chairman of the Board of Vattenfall, Gerhard Larsson, commented on the appointment as follows: "Lars G Josefsson has an appropriate management background for Vattenfall's current stage of development given his broad international experience and his experience of blending together different cultures, directing demanding change management work and developing new business concepts. I also believe that it is an advantage that he has experience of managing both State-owned and private companies." Vattenfall's former President and CEO, Carl-Erik Nyquist, retired as planned at the Annual General Meeting held in April. Until the new President and CEO takes up his post, Chief Financial Officer Bertil Tiusanen will be acting President and CEO. From Vattenfall's Press Office, telephone: 08-739 50 10. For further information, please contact Gerhard Larsson, Chairman of the Board, Vattenfall AB, telephone: 070-517 17 18. Inger Holmström-Lindgren, Senior Vice President, Corporate Communications, Vattenfall AB, telephone: 070-539 50 84. Vattenfall is one of the largest energy companies in Europe, accounting for 25 percent of total electricity sales in the Nordic region. The total electricity generation is 85 TWh. Vattenfall is a leading operator of regional and local distribution networks serving 1,1 millions customers. The Group also conducts operations in the areas of heating and natural gas, as well as transmission services and consulting for the energy sector. Vattenfall's biggest customers are energy companies, industrial enterprises, and retail customers in the Nordic region. Vattenfall is also active in the Baltic countries, Germany, the Netherlands, Poland, the Czech Republic, Austria, Southeast Asia and South America. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2000/05/26/20040817BIT20440/wkr0001.pdf