STOCKHOLM, Sweden, Jan. 27, 2004 (PRIMEZONE) -- Carl-Olof By today informed the chairman of Skandia's Nominating Committee, Bjorn Wahlroos, that he is no longer at the service as a member of Skandia's Nominating Committee.
"In connection with the fact that the proposal to Skandia's board has now been submitted to the Extraordinary General Meeting, I feel my assignment has been completed," says Carl-Olof By in a comment. "In view of the special situation that arose in connection with the sale by Industrivarden in December 2003 of its entire holding in Skandia, I also feel it is important in conclusion to summarize the grounds for my assignment."
-- At Skandia's Annual General Meeting in April 2003 it was resolved
that Skandia's Nominating Committee would be composed of
representatives of the four largest shareholders as at the end of
the third quarter. Industrivarden, which at this point in time was
one of the largest owners, appointed Carl-Olof By as its
representative.
-- In connection with the sale by Industrivarden in December 2003 of
its shareholding in Skandia, Industrivarden's CEO, Anders Nyren,
informed the representatives of Skandia's largest owners that
Industrivarden felt it was natural for Carl-Olof By to leave
Skandia's Nominating Committee since Industrivarden had sold its
shareholding.
-- As a consequence of the above, Carl-Olof By then made his seat on
the Nominating Committee available and deferred to the other members
to decide whether he should stay on or not. The Committee was
unanimous in its preference that he remain on the Committee, which
was also recorded in the minutes of the Nominating Committee.
Stockholm, January 27, 2004
AB INDUSTRIVARDEN (publ)
For further information, please contact: Anders Nyren, President and CEO, Industrivarden, phone +46-8-666 64 00
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http://www.waymaker.net/bitonline/2004/01/27/20040127BIT00730/wkr0001.doc
http://www.waymaker.net/bitonline/2004/01/27/20040127BIT00730/wkr0002.pdf