STOCKHOLM, Sweden, Feb. 6, 2003 (PRIMEZONE) -- Bo Dankis, Group Vice-president and head of ASSA ABLOY (Other OTC:ASAZF) (Stockholm:ASSAb) South Europe takes over as President and CEO as Carl-Henric Svanberg becomes President and CEO at Ericsson. The intention is that Carl-Henric Svanberg remains on the Board of ASSA ABLOY as Deputy Chairman in conjunction with Melker Schorling.
"ASSA ABLOY strategy remains as it is," Dankis said. "The change of leadership does not entail any changes in that respect."
"We have created a world-wide presence. And we have come a long way in building a unified Group with common values and working methods. Now it is time to focus even more on our customers, adding value for them through increased security, safety and convenience."
Dankis was born in 1954 and has a Master of Science degree from Linkoping Institute of Technology. He held various management positions with international companies, including country manager for ABB in Japan. Mr. Dankis joined ASSA ABLOY in1997 as responsible for ASSA ABLOY France. In 1998 he became Group Vice President and he took on the responsibility for ASSA ABLOY South Europe in year 2000.
"Within ASSA ABLOY, profitability, open communication and positive development of individuals comprise the cornerstones of our management philosophy. The successful managers of the future will be those that can best liberate and mobilise the energy that already exists within their organizations," Dankis said.
Through his position on the board, Carl-Henric Svanberg will continue to play an important part in ASSA ABLOY. He also remains a considerable and long-term share holder.
"I have led the Assa group since 1990 and ASSA ABLOY since its stock exchange listing in 1994. The company really has a special place in my heart. I have now been offered a great challenge which I will take on. The Group stands strong with a united management and I am convinced that ASSA ABLOY will continue to show strong development under Bo Dankis's leadership," Svanberg said.
"We have all followed Bo Dankis's career over a number of years and the Board have, along with the entire Management Team, immense confidence in him. He has all the credentials and pre-requisites required to continue to develop ASSA ABLOY. He has already proved this in all his assignments so far in the Group. It feels both comfortable and beneficial that he take over," said Georg Ehrnrooth, Chairman of the Board at ASSA ABLOY.
In conjunction with this change, the board has also appointed Goran Jansson, CFO, and Clas Thelin, Group Vice President and head of ASSA ABLOY North America as Group Executive Vice Presidents.
ASSA ABLOY AB (publ), P.O. Box 70340, S-107 23, Stockholm, Tel: +46 8 506 485 00, Fax: +46 8 506 485 85
The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions, dedicated to satisfying end-user needs for security, safety and convenience. The Group has about 30,000 employees and annual sales of about EUR3 billion.
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