STOCKHOLM, Sweden, Jan. 21, 2004 (PRIMEZONE) -- Jan Liden has been appointed President and Chief Executive Officer of ForeningsSparbanken AB (Swedbank). Currently serving as Deputy President and CEO as well as Head of the Stockholm region and Acting Chief Financial Officer, Jan Liden will assume his new post on February 1 of this year.
"We have conducted a widespread search for a suitable presidential candidate, both nationally and internationally," says Chairman Carl Eric Stalberg. "Jan Liden fills our requirement profile extremely well thanks to his documented leadership experience from listed companies as well as his international experience.
"I know Jan Liden as a very goal- and results-oriented leader who has always been able to deliver on his promises," he continues. "He therefore has every opportunity to succeed in the effort to consolidate the bank's leading position."
Jan Liden has worked a total of 13 years at ForeningsSparbanken in various senior positions. In addition to serving as regional manager, he has managed the Swedbank Markets business area and been president of both the bank's finance company and its mortgage lender, Spintab.
Jan Liden will receive an annual salary of SEK 6.5 million with no bonus or other variable compensation. His pension benefits call for retirement at age 60 with no option to retire earlier. Jan Liden will receive a pension based on an annual premium of SEK 3.5 million. He has a term of notice of six months if he leaves on his own initiative or twelve months if terminated by the bank. If terminated by the bank without reasonable grounds, he will be entitled to an additional twelve months' severance pay less any income earned from other positions.
Attachment: Jan Liden's Curriculum Vitae
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