STOCKHOLM, Sweden, Jan. 11, 2002 (PRIMEZONE) -- Gunnar Brock will be appointed new President and Chief Executive Officer of the Atlas Copco Group. The appointment will take effect July 1, 2002, but Brock will join the Group on May 1. Brock succeeds Giulio Mazzalupi, who will retire after 31 years in the Group, the last five as its President and CEO.
"We are very pleased that Gunnar Brock has accepted the position as President and CEO for the Atlas Copco Group," says Anders Scharp, Chairman of Atlas Copco's Board of Directors. "With his extensive international profile, including thorough experience in Asia, and his proven capability to lead large industrial corporations, Gunnar Brock is the right person to head Atlas Copco. I am convinced that he will further develop the company, enhancing product development, market expansion and the "use-of-products" strategy, with rental being an important part."
Between 1974 and 1992, Gunnar Brock worked in various positions within Tetra Pak, manufacturer of systems for processing, packaging and distribution of liquid food. He held a number of different international positions as its General Manager in Asia, Europe and Africa. From 1992 to 1994 he was President and CEO of the Alfa Laval Group, which produces separation, heat transfer and fluid handling equipment. Alfa Laval and Tetra Pak at the time had the same owners. Brock was then promoted President and CEO of the Tetra Pak Group between 1994-2000. He currently is CEO of Thule, a manufacturer of load carrier systems for cars.
Gunnar Brock was born in Skovde, Sweden in 1950. He is a graduate from the Stockholm School of Economics, Sweden.
Anders Scharp says, "Since Giulio Mazzalupi took over as President and CEO in the spring of 1997, Atlas Copco has almost doubled in size. Even if it is a little early, I would like to take the opportunity to thank him for his accomplishments. He has strengthened the Group's position through successful product innovations and through improving service to customers when the products are in use."
CONTACT: Annika Berglund, Senior Vice President, Group Communications, Atlas Copco AB, + 46 8 743 8070, mobile +46 70 322 8070 e-mail: annika.berglund@atlascopco.com
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2000, the Group had revenues of SEK 46 billion, with 98 percent of revenues outside Sweden, and more than 26.000 employees. The Group produces and markets compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, assembly systems, and offers related service and equipment rental. The Atlas Copco Group includes famous appliance brands such as RSC, Milwaukee Electric Tool, Chicago Pneumatic and AEG Power Tools. More information can be found on the web site: www.atlascopco-group.com.
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