STOCKHOLM, Sweden, April 22, 2004 (PRIMEZONE) -- Song Networks Holding AB (Stockholmsborsen: SONW) announces today that Tomas Franzen is leaving his post as Chief Executive Officer and Managing Director of Song Networks Holding AB and its Swedish subsidiary. He will continue to serve as a member of the Board of Song Networks Holding AB.
The Chairman of Song Networks Holding AB, Kjell Nilsson, takes over provisionally as Chief Executive Officer. Mats Lundqvist, Deputy Managing Director of the Swedish subsidiary, takes over as Acting Managing Director of Song Networks Holding AB and as Managing Director of the Swedish subsidiary.
Kjell Nilsson was born in 1948. He has been a board member of Song Networks since 2003 and took up the position of Chairman of the Board in March 2004. During his career, Kjell has been Managing Director of Boliden and Trelleborg, and has also held various positions within the Electrolux Group.
Tomas Franzen, who joined Song Networks on 1 April 2002, leaves his post at the end of May to become Chief Executive Officer of Eniro on 1 June 2004.
"The work at Song Networks has been fantastically exciting, as we have successfully restructured the company and brought order to our operations," says Tomas Franzen. "The fact that we have never failed to achieve the targets we set ourselves is testament to the company's potential. The reason why I am leaving Song Networks right now is that I have received an offer which, from a personal consideration, I cannot refuse. From Song Networks' own perspective the time is also right, as the company now has a strong footing and a well-functioning organisation. In my capacity as a member of the board of Song Networks, I shall continue to contribute towards making Song Networks a successful company," he concludes.
"Tomas has been a real asset in his efforts to restructure the company and subsequently develop competitive operations," says Kjell Nilsson. "He deserves the utmost respect and we are sorry that he has decided to leave us. We are happy that Mats Lundqvist, with his extensive experience of the company and sector, is stepping in as Acting Managing Director of Song Networks Holding AB and Managing Director of our Swedish subsidiary, as this will ensure continuity in our operations. Financially, Song Networks is performing well in line with our expectations and I look forward to the future with optimism," he adds.
As previously planned, Song Networks will present its interim report for the first quarter on 7 May. Further information on conference call times will be presented later on www.songnetworks.net
For information, please contact: Kjell Nilsson Song Networks Holding AB Mobile: +46 (0)702 60 01 21
Tomas Franzen Song Networks Holding AB Direct: +46 (0)8 5631 01 11 Mobile: +46 (0)701-81 01 11 E-mail: tomas.franzen@songnetworks.net
Mats Lundqvist Song Networks Holding AB Direct: +46 (0)8 5631 07 12 Mobile: +46 (0)701-81 07 12 E- mail: mats.lundqvist@songnetworks.se
Jenny Moquist, Investor Relations Song Networks Holding AB Direct: +46 (0)8 5631 02 19 Mobile: +46 (0)701-81 02 19 E- mail: jenny.moquist@songnetworks.net
About Song Networks, (Stockholmsborsen: SONW) Song Networks is a data and telecommunications operator with activities in Sweden, Finland, Norway and Denmark. The Company's business concept is to offer the best broadband solution for data communication, Internet and voice to businesses in the Nordic region. The Company was founded in 1995 in Sweden and has approximately 840 employees. The head office is located in Stockholm and the Company has 23 offices located in the Nordic region. www.songnetworks.net
Certain statements contained in this press release contain "forward-looking statements" within the meaning of the U.S. federal securities law. Such statements are based on the current expectations of the management of Song Networks Holding AB only, and performance is subject to risks, uncertainties and other factors that could cause actual results to differ materially from these statements. Such risks include, but are not limited to, adverse regulatory, technological or competitive developments; decline in demand for the company's services or products; inability to timely develop, introduce and market new technologies, products and services; pricing pressures resulting from competition; unforeseen construction delays; and the inability to successfully manage systems failures or shutdowns and service interruptions or reduced services to customers.
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Management changes in Song Networks