STOCKHOLM, Sweden, Oct. 27, 2004 (PRIMEZONE) -- Orc Software previously announced that Jonas Lindstrom would take over as Chief Executive Officer no later than September 2005. The date has now been set for December 1, 2004. Lindstrom most recently comes from Front Capital Systems where he has been CEO.
Nils Nilsson comments, "It feels positive for both myself and for the company that Jonas is able to start his new position before the yearend. I will now have the opportunity to more quickly focus fully on the development and sales of our most advanced technology, Orc Liquidator."
Jonas Lindstrom comments, "I am thankful that the negotiations with my former employer resulted in my being able to start my new position so soon, and I look forward to leading Orc Software through the next phase of the company's development".
Orc Software provides technology for advanced market making, trading and brokerage. Orc Software's technology is used in 20 countries and allows users to access more than 80 exchanges. The company is listed at Stockholmsborsen and has operations in Chicago, Frankfurt, Hong Kong, London, Milan, Moscow, New York, Stockholm, St Petersburg, Sydney, Tokyo, Toronto, Vienna and Zurich. In 2003, the company's total revenue amounted to SEK 249 million with an operating income of SEK 74 million.
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