STOCKHOLM, Sweden, June 10, 2005 (PRIMEZONE) -- Observer CEO Robert Lundberg has informed the company's Board of Directors that he intends to step down no later than the Annual General Meeting in 2006.
"During his years as CEO, Robert Lundberg successfully built Observer into a world leader with very strong market positions in 13 countries in North America, the Nordic region and the rest of Europe," said Observer Chairman Orjan Hakanson. "Having until the Annual General Meeting in 2006 gives the Board plenty of time to recruit and prepare a new CEO for the position."
During the years 2004-2005 Observer has launched an integrated offering in all its regions. To facilitate this, the Group has merged subsidiaries with around 1,300 employees in the U.K., Germany and the Nordic region. The offering has been further strengthened through the acquisition of six companies in North America in the last year. These acquisitions and further improvements to existing services have given Observer a strong position and the opportunity to further broaden its client base.
"During a tough period I think we have created a solid base to build on," said Robert Lundberg. "We have a strong and profitable business in the U.S., the Nordic market is gradually improving and the U.K. is nearing a turnaround. I have led Observer for 13 years and now it is time to hand over the reins to the next generation."
Observer AB (publ)
Observer is the world's leading company in media monitoring and communication evaluation. Observer's services enable the clients to identify relevant target groups, distribute information, monitor their coverage and evaluate their communication.
Observer AB is quoted on the Attract 40 section of Stockholmsborsen's O-list and has approximately 24,000 shareholders. The company has around 2,600 employees and a turnover of slightly over SEK 1.6 billion in 2004. Observer operates in the US, UK, Sweden, Canada, Germany, Norway, Finland, Denmark, Portugal, Ireland, Estonia, Latvia and Lithuania.
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-0- Orjan Hakanson, Chairman of the Board telephone: +46 70 814 63 58, Robert Lundberg, Chief Executive Officer telephone: +46 8 507 410 10 e-mail: robert.lundberg@observergroup.com Per Blixt, Senior VP Corporate Communications telephone: +46 70 549 28 08/ +46 8 507 410 12 e- mail: per.blixt@observergroup.com