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Investment AB Kinnevik: The CEO of Korsnäs has asked to be relieved from his duties

5/12/2008 9:50 AM

Investment AB Kinnevik (publ) ("Kinnevik") today announced that Peter Sandberg has asked to be relieved from his duties as Chief Executive Officer of Kinnevik's fully owned forestry company Korsnäs AB. Peter Sandberg will remain CEO for an interim period. Kinnevik will start the recruitment process for a new CEO of Korsnäs immediately.
 
"I regret that Peter has chosen to leave Korsnäs. He has done an excellent job as CEO of Korsnäs and he has been instrumental in the successful integration of Korsnäs and Frövi. We wish him all the best in his future career. Korsnäs is one of the most profitable forestry companies in the Nordic region and I am confident that we will successfully recruit a new CEO to the company," comments Vigo Carlund, Chairman of the Board of Korsnäs.
 
For further information, visit www.kinnevik.se or contact:
 
Investment AB Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The Parent Company manages a portfolio of investments focused around three comprehensive business areas; Major Listed Holdings which includes Millicom International Cellular, Tele2, Modern Times Group MTG, Metro International and Transcom WorldWide, Major Unlisted Holdings which includes the cartonboard and paper company Korsnäs, and New Ventures which is active in finding new investments in small and mid sized companies which has a significant growth potential. Kinnevik plays an active role on the Boards of its holdings.
Investment AB Kinnevik's class A and class B shares are listed on the Stockholm Stock Exchange's Nordic list for large-cap companies within the financial and real estate sector. The ticker codes are KINV A and KINV B.