STOCKHOLM, Sweden -- Regulatory News:
The Board of Directors of SCA (Nasdaq:SVCBY) (STO:SCAA) (STO:SCAB) (LSE:SNKB) has today decided to implement a change of CEO. Jan Johansson, currently President and CEO of Boliden AB, has been appointed as SCA's new President and CEO. SCA's Executive Vice President and CFO, Lennart Persson, will be acting CEO until Jan Johansson can take up his position, however, within three months at the latest. Jan Astrom is vacating his position with effect from today's date.
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"Jan Astrom has been President and CEO of SCA for almost six years. In an exemplary manner, he has implemented essential and extensive cost-cutting and efficiency enhancement programmes which has contributed to SCA's earnings recovery," continues Sverker Martin-Lof.
"In recent years, SCA has succeeded with major and important adjustments in response to changes in customer structures and business climates. I understand and respect the fact that different circumstances require different leadership," comments outgoing CEO Jan Astrom.
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A press conference will be held at SCA's head office, Stureplan 3, at 14.15 CET today. SCA's Chairman Sverker Martin-Lof, and President and CEO designate, Jan Johansson, will participate in the press conference. The press conference is open only for media reporesentatives.
NB This information is such that SCA must disclose in accordance with the Securities and Clearing Operations Act. The information was submitted for publication on 3 September 2007 at 13.30 CET.
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