STOCKHOLM, Sweden, April 19, 2005 (PRIMEZONE) -- The Board of Directors of Pergo AB has appointed Tony Sturrus as new CEO and President of the company. Tony Sturrus presently holds the position as Pergo's Senior Vice President, Region North America, a position he will keep. The Board of Directors has further appointed Staffan Soderqvist as Executive Vice President. Staffan Soderqvist will also continue to hold the position as CFO of the Pergo Group. Both executives assume their new responsibilities as of today.
News articles of late have rumoured that the head quarter of Pergo might be moved to the USA. With regards to these statements, the Board of Directors has now clarified that the headquarter will remain in Trelleborg, Sweden. Furthermore, the Board of Directors has confirmed that the present strategic direction of the company stays firm.
"We will continue to work according to the strategy to develop Pergo from a purely laminate flooring company to a flooring company. The activities of efficiency enhancement and improved competitiveness are progressing according to plan. We will utilize the strength of the Pergo brand and we will, during 2005, launch a number of new products," says Tony Sturrus.
"We will build on the strength and creativity of the Pergo organization, which has been responsible for many new innovations within flooring," says Tony Sturrus.
Tony Sturrus has worked within Pergo since 2003. He previously held the position as President of Baldwin Hardware for nine years. Baldwin Hardware is a division of Masco Corporation, a building materials company which is listed on the New York Stock Exchange.
For further information, please contact Chairman of the Board -- Bertil Villard, phone +46 707-14 31 03 CFO -- Staffan Soderqvist, phone +46 410-36 31 00, E-mail: staffan.soderqvist@pergo.com Communications Manager -- Asa Ruhr, phone +46 410-36 31 00, mobile: 0705-59 55 79, E-mail: asa.ruhr@pergo.com
Pergo is a leading flooring company with leading market positions, particularly in Europe and the U.S. Net sales amount to approx. SEK 2.8 billion and the number of employees is around 800. Pergo developed laminate flooring at the end of the 1970s and launched the product in Europe during the 1980s. The company started sales in the U.S. in 1994 and later also in Asia 1995 and Latin America 1997. The company's products have been marketed under the PERGO(r) brand name since 1989. The company is listed on the Stockholm Stock Exchange's Attract 40-list. For further information about Pergo, please visit our website www.pergo.com.
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