Institutional shareholders vote in favour of new Board of Directors of NOTE
At today's Annual General Meeting (AGM) of NOTE, a group of mainly institutional shareholders with a combined holding of around 40 per cent of the votes and capital in the company proposed and voted for a new Board of Directors.
On the proposal of the institutional shareholders, the AGM elected a new Board of Directors consisting of Bruce Grant, Chairman, and members Kjell-Åke Andersson, Håkan Gellerstedt, Göran Jansson, Hans Johansson, Per-Arne Sandström and re-elected Arne Forslund.
At a subsequent statutory Board meeting, Mr Forslund was appointed President and CEO, a position he left in February 2007 following a disagreement with the then Board on the company's strategic development.
"A number of institutional owners have concluded that we lack confidence in the previous board and the CEO who was surprisingly appointed in February. Through our actions, the company will have a board with long and broad experience of product development, manufacturing, logistics and purchasing linked to business development and acquisitions. At the same time, former CEO Arne Forslund can now continue his successful work of change," says Gunnar Håkanson at Catella Kapitalförvaltning, which is acting together with Catella Fonder and Carnegie Småbolagsfond, among others. ODIN Fonder also voted in favour of the proposal at the AGM.
For further information, please contact:
Gunnar Håkanson, Catella Kapitalförvaltning, +46 708-68 14 88