Peter Sandberg new CEO of Korsnäs AB

26 Aug 2005, 8:00 AM

Investment AB Kinnevik ("Kinnevik") today announced that Kinnevik's and Korsnäs' Board of Directors have appointed Peter Sandberg new CEO of Korsnäs AB. He will take office on 1 December, 2005. Peter Sandberg comes from a position as Executive Vice President in M-Real, responsible for the Office Paper division. The CEO and President of Kinnevik, Vigo Carlund, will remain acting CEO of Korsnäs until Peter takes office.

Peter Sandberg has worked in various positions within Modo Paper and M-Real since 1994. In his most recent position at M-Real, he was responsible for a total turnover of EUR 800 million, four production units and 2,350 employees.
 
For further information, please visit www.kinnevik.se or contact:
 
Vigo Carlund, President & CEO
+46 (0) 8 562 000 00
Henrik Persson, Investor Relations
+46 (0) 8 562 000 87
 
+46 (0) 707 62 00 87
 
Investment AB Kinnevik is an investment company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The Group consists of the Parent Company Investment AB Kinnevik and a number of operating subsidiaries. The Parent Company manages a portfolio of long-term investments in a number of listed companies such as Tele2, Modern Times Group MTG, Millicom International Cellular, Metro International and Transcom WorldWide. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.
 
The Group's subsidiaries are principally active in farming through Mellersta Sveriges Lantbruk, cartonboard and paper production through Korsnäs, and banking, insurance, securities broking and trading, and asset management through Invik & Co.
 
Kinnevik's 'A' and 'B' shares are traded on the Stockholmsbörsen 'O-list' with the ticker codes 'KINVA' and 'KINVB'.