Annual general meeting 2011 and new CEO of Cardo

Annual general meeting 2011 and new CEO of Cardo

 

At today's annual general meeting of Cardo at the premises of Mannheimer
Swartling Advokatbyrå in Malmö, Sweden, it was resolved that no dividend
be paid for the financial year 2010.

Further, ASSA ABLOY AB's proposals to the annual general meeting were
approved, entailing among other things that Johan Molin, Tomas Eliasson,
Juan Vargues, Jacob Wahlberg and Krister Eriksson were elected as new
board members. Johan Molin was elected chairman of the board and Juan
Vargues vice chairman of the board. In connection with the annual
general meeting, the board members appointed by the employee's
organizations, Lennart Utbult, Bjarne Johansson and Tomas Häggström, as
well as their deputy board members, Dick Cedervång, Kurt Hellström and
Nils-Åke Pettersson, resigned from their respective engagements.

The meeting also resolved, in accordance with the proposal by the board
of directors, to adopt guidelines for remuneration to senior management
which corresponded fully with the guidelines adopted by the previous
annual general meeting.

At the inaugural board meeting held in connection with the annual
general meeting, it was resolved to appoint Juan Vargues as CEO of the
company. Juan Vargues will accede the position on April 5, 2011,
replacing the company's present CEO Peter Aru.

Malmö, Sweden, April 4, 2011

Cardo AB (publ)

For further information, please contact:
Maria Bergving, SVP Communications and Investor Relations,
tel +46 10 4747 405, +46 70 602 61 81
Thomas Niklasson, Head of Investor & Public Relations,
tel +46 10 4747 459, +46 70 277 99 50