Kinnevik: Anders Borg proposed to join the Board of Investment AB Kinnevik

10 Dec 2014, 8:00 AM

Investment AB Kinnevik (publ) ("Kinnevik") today announced that the Nomination Committee will propose to elect Anders Borg as new director of the Board of Directors at the Annual General Meeting in May 2015.

Anders Borg served as Minister of Finance in Sweden between 2006 and 2014. In 2011, he was named European Finance Minister of the year by the Financial Times recognizing his outstanding political ability, economic performance and market credibility. He studied philosophy, economic history and political science at Upp­sala University and postgraduate studies in economics at Stockholm University.

Anders Borg has been nominated to become Deputy Chairman of Kinnevik and together with Executive Chairman Cristina Stenbeck and Deputy Chairman Dame Amelia Fawcett he will be working on broader business development across the Group.

Anders Borg commented: "Kinnevik is a unique business builder with long-term owners, a strong corporate culture and an unrivalled set of companies in growth sectors and growth markets. I am excited to be joining the Board where I expect to work closely together with the Executive Chairman and my fellow board members and to use my international experience to support the continued success of the Group."

Cristina Stenbeck, Chairman of the nomination committee and Executive Chairman of the Board, commented:

"I am proud to welcome Anders Borg to the Kinnevik Board of Directors. With his unparalleled market knowledge and global perspective he will bring a unique competence to the board. As we expand our existing emerging market footprint, I look forward to working with Anders Borg to build an even stronger Kinnevik."

The Nomination Committee is comprised of Ramsay Brufer appointed by Alecta, James Anderson appointed by Baillie Gifford, Wilhelm Klingspor appointed by the Klingspor family, Cristina Stenbeck and Max Stenbeck appointed by Verdere Sàrl and Edvard von Horn appointed by the von Horn family. The committee expects to present its full proposal regarding the Board and auditor, in the case that an auditor should be elected, and their remuneration, in April 2015.

The information is of such character, which Kinnevik shall disclose in accordance with the law on Trading with Financial Instruments (1991:980) and/or the Securities Market Act (2007:528). The information was distributed for disclosure at 8 a.m. on 10 December 2014.

For further information, visit www.kinnevik.se or contact:

Cristina Stenbeck, Chairman of the Nomination CommitteePhone +46 (0)8 562 000 00
Torun Litzén, Director, Investor RelationsPhone +46 (0)8 562 000 83
 Mobile +46 (0)70 762 00 83

Investment AB Kinnevik is a leading, long-term oriented, investment company based in Sweden. Kinnevik primarily invests in consumer centric businesses that provide innovative and value-added technology-enabled services. Our main areas of focus are the Communications, e-Commerce, Entertainment and Financial Services sectors. We own significant stakes in over 50 companies that operate in more than 80 countries across five continents, with a particular emphasis on growth markets. The Kinnevik Group employs more than 90 000 people around the world.

Kinnevik actively supports the companies in which it invests and plays an influential role on their respective Boards. Kinnevik was founded in 1936 by three Swedish families who continue to play a leadership role in the ownership of the Company and in the pursuit of its entrepreneurial ventures.

Kinnevik's shares are listed on Nasdaq OMX Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.