The B&B TOOLS Group is entering a new phase following a period that was marked by comprehensive change efforts. Moving forward, there will be a sharp focus on such areas as value-based sales, profitability and customer proximity. With the aim of enhancing efficiency in the management and review of the operating activities, and thus making more decisions closer to the customers and operations, the Board and management of B&B TOOLS have decided to introduce a new organisational structure with fewer management levels at the highest level of the Group. Accordingly, as of 1 January 2013, the Group’s operating areas will report directly to CEO Ulf Lilius and jointly comprise the Group’s management team.
As of 1 January 2013, the B&B TOOLS Group’s management team will comprise: the President & CEO, Chief Financial Officer, the Country Managers for TOOLS in Sweden, Norway and Finland, the President of TOOLS Momentum, the Presidents of the Group’s four Business Areas, and the Head of the Group’s Business Infrastructure Unit.
The Group’s current Executive Vice President and Chief Operating Officer, Peter Gustafsson, will leave B&B TOOLS on 31 December 2012.
Stockholm, 29 November 2012
B&B TOOLS AB (publ)
For further information, please contact:
Ulf Lilius, President and CEO, B&B TOOLS AB, tel: +46 10-454 77 00
Mats Karlqvist, Head of Investor Relations, B&B TOOLS AB, tel: +46 70 660 31 32
B&B TOOLS is required to disclose the above information in accordance with the Swedish Securities Markets Act, the Swedish Financial Instruments Trading Act or the regulations for issuers on NASDAQ OMX Stockholm. This information was submitted for publication on 29 November 2012 at 13:00 p.m.
