GOTHENBURG, Sweden, Dec. 2, 2002 (PRIMEZONE) -- Following close analyses and discussions, Bure's board has taken the following decisions regarding the company's future focus:
-- the parent company's financial balance is to be restored
-- this is to be achieved through a controlled exit process of quicker pace
-- the parent company's investment is to be concentrated to the portfolio's operating companies
-- the parent company's organisation is to be adjusted to the new situation.
In the light of this, Peter Sandberg, in conference with the board, has agreed to retire as chief executive officer. At the latest, this will be done at the regular annual general meeting in 2003.
Bjorn Bjornsson will assist in the restructuring with a particular responsibility for financing issues and ongoing exit negotiations. In addition, Kjell Nilsson will be more closely tied to Bure to assist the board with some of Bure's major investments, such as Carl Bro.
The recruitment process for a new chief executive officer will commence and plans to be completed in good time before the annual general meeting.
For further information please contact: Gosta Wiking, Chariman of the Board, +46 705-932090
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/12/02/20021202BIT00980/wkr0001.doc
http://www.waymaker.net/bitonline/2002/12/02/20021202BIT00980/wkr0002.pdf