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Mia Brunell new CEO of Kinnevik as of 1 August 2006

3/13/2006 8:08 AM

Mia Brunell joined Kinnevik in 1992 and was appointed CFO of the associated company Modern Times Group MTG AB ("MTG") in 2001. As CFO Mia has played a central role in the success of MTG and has been represented in most operational Boards. She has been deeply involved in several key projects within MTG such as the turn-around of Viasat's Pay TV business to become one the most profitable Pay TV businesses in Europe and the creation of the strong position for free TV Scandinavia as well as the successful expansion of the TV operations into Central and Eastern Europe. Mia has also been instrumental in establishing MTG's excellent financial strength and flexibility. Mia will remain on the Board of Directors of the Russian media company CTC Media, which is an associated company of MTG.
 
Pehr Gyllenhammar, Chairman of the Board of Directors of Kinnevik commented: "The Board of Directors is pleased to announce the appointment of Mia Brunell as President and CEO of Kinnevik. Mia has an established and successful career within MTG and her strong operational experience and financial expertise makes her extremely well suited to continue to build on our strong investment philosophy of long term focused value creation.
 
The Board of Directors would also like to express its deepest gratitude to Vigo Carlund for his significant contributions to Kinnevik over the last 37 years. Vigo has been involved in building many successful companies within the Group and has been instrumental in the strong development of Kinnevik."

Mia Brunell commented: "I am proud to be appointed as President and CEO of Kinnevik. I feel strongly about the Group and I look forward to begin in my new position in the coming months. Kinnevik has both its industrial subsidiary Korsnäs, as well as its diverse portfolio of well managed assets, which creates a solid foundation to continue to deliver high returns to the shareholders."
 
Vigo Carlund commented: "After many fantastic years with the Group it feels natural to hand over to a new CEO. The Group is stronger than ever and it is a privilege to be able to continue to work with our companies through my various Board assignments. I know Mia Brunell as an excellent executive and it gives me great confidence and comfort that she will be appointed CEO and President of Kinnevik."
 
Mia leaves her position as CFO of MTG on 31 May, allowing her to work alongside Vigo until she formally assumes her new role.
 
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