ReadSoft announces new organizational structure and new members of the Executive Management Team

ReadSoft makes organizational changes to create a functional company that better
utilizes the potential and processes of the ReadSoft Group. Sales and marketing
will be organized into four regional units. The five development labs will be
merged into two main solution labs and there will be one Chief Technology
Officer (CTO) and one Chief Operating Officer (COO). The organizational changes
with new functions are effective immediately, all functions will be reporting to
the President and CEO, and this will be reflected in the Executive Management
Team.
“We have been working on this for quite some time to achieve a more efficient,
agile and process-oriented organization,” says Per Åkerberg, President and CEO
of ReadSoft AB.
ReadSoft’s new functional organization will take ReadSoft from a legally managed
organization with autonomous subsidiaries in 16 countries to a more
operationally managed Group. The subsidiaries will be clustered into four
geographical regions, where synergies and deployment effects will be more easily
achieved. These regions are; Northern Europe including the subsidiaries Sweden,
Norway, Denmark, Finland and Benelux; EMEA including the UK, France, Germany,
Spain and Switzerland; North America including the USA and Canada; and Latin
America & Asia/Pacific including Chile, Brazil, Asia and Oceania.
The five solution labs available today will be reorganized into two labs: one
for Capture Automation consisting of the former solution labs Capture, Online
and XBOUND and one for ERP Automation consisting of the former SAP and Oracle
solution labs. This change will make the company more efficient, and create
synergies and opportunities to develop even better joint functions.
ReadSoft is also appointing a Chief Technology Officer (CTO) with the objective
to take charge of and manage ReadSoft’s long-term directions for products and
solutions, including domain expertise, and operational performance of the
ReadSoft solution labs.
ReadSoft will gather most of the corporate functions in one unit, headed by a
Chief Operating Officer (COO). These corporate functions will include Product
Management, Global Market Communication, Strategic Marketing and Lead
Generation, Corporate Consulting Services, Corporate Sales and Global Support &
Customer Care. By doing so, these corporate functions will support ReadSoft’s
global organization in a better and synchronized way.
The Finance & Administration, Corporate Communications and Human Resources
departments remain intact in structure and functions.
“The new organization is a natural step in our continuous ambition to be more
customer-focused, efficient and process-oriented, and it will not change
ReadSoft’s goals and strategies”, says Per Åkerberg, ReadSoft’s President and
CEO. “I am convinced that we will be an even more attractive company for our
customers, partners and employees,” finishes Per Åkerberg.
The new Executive Management Team reflects the organizational changes and
includes the new functions of the geographical regions, the two solutions labs
and the CTO and COO. All functions listed below will report to ReadSoft’s
President and CEO, Per Åkerberg.
ReadSoft’s Executive Management Team as from May 21, 2012:

+-----------------------+---------------------------------------+
|Name                   |Responsibility                         |
+-----------------------+---------------------------------------+
|Per Åkerberg           |President and CEO                      |
+-----------------------+---------------------------------------+
|Lars Appelstål         |CTO                                    |
+-----------------------+---------------------------------------+
|Jan Bertilsson         |CFO (Finance & Administration)         |
+-----------------------+---------------------------------------+
|Peter Sandin           |COO                                    |
+-----------------------+---------------------------------------+
|Johan Holmqvist        |VP Corporate Communications            |
+-----------------------+---------------------------------------+
|Anna Ronnelin          |VP Human Resources                     |
+-----------------------+---------------------------------------+
|Peter Hörwing          |SVP Region EMEA and Special Markets    |
+-----------------------+---------------------------------------+
|Martin Lackmann*       |SVP Region Northern Europe             |
+-----------------------+---------------------------------------+
|Bob Fresneda*          |SVP Region North America               |
+-----------------------+---------------------------------------+
|Björn Gabrielsen*      |SVP Region Latin America & Asia/Pacific|
+-----------------------+---------------------------------------+
|Lars Appelstål (acting)|SVP Capture Automation Lab             |
+-----------------------+---------------------------------------+
|Rowland Archer*        |SVP ERP Automation Lab                 |
+-----------------------+---------------------------------------+

* New member of the Executive Management Team
This is information of the type that ReadSoft AB (publ) is obligated to disclose
in accordance with the Swedish Securities Markets Act and/or the Financial
Instruments Trading Act. The information was submitted for publication on May
21, 2012 at 14:10 CET.
For additional information, please contact:
ReadSoft
AB

Per Åkerberg, President and CEO
Phone: +46 42 490 21 00
Johan Holmqvist, Vice President, Corporate Communications
Phone: +46 708 37 66 77
Email: johan.holmqvist@readsoft.com
About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Process
Automation. ReadSoft’s software enables companies to automate document processes
such as accounts payable processing (http://www.readsoft.com/purchase-to
-pay.aspx), document capture (http://www.readsoft.com/enterprise-capture.aspx),
document sorting (http://www.readsoft.com/software-products/document
-capture.aspx), and order to cash (http://www.readsoft.com/order-to-cash.aspx).
ReadSoft is by far the world’s number one choice for automated invoice
processing (http://www.readsoft.com/software-products.aspx), especially into
business systems from SAP (http://www.readsoft.com/default/sap-solutions) and
Oracle (http://www.readsoft.com/default/oracle-solutions). Since the start in
1991, ReadSoft has grown to a worldwide group with operations in 16 countries on
five continents and a network of local and global partners. The head office is
located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ
OMX Stockholm's Small Cap list. For more information about ReadSoft, please
visit www.readsoft.com.