Ratos: Knud Andersen new CEO of AH Industries
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
Knud Andersen has been appointed as the new CEO of Ratos's subsidiary AH Industries with effect from 15 May 2013. Knud Andersen will join AH Industries from BB Electronics where he has been CEO since 2005.
Knud Andersen, born 1955, has held a number of leading positions in industrial companies, including Chemitalic A/S (CEO), NEG Micon A/S (COO) and Vestas Wind Systems A/S (COO). Knud will join AH Industries from BB Electronics A/S where he has been CEO since 2005. Knud Andersen will succeed Steffen B. Jespersen who has been CEO of AH Industries since 2005.
Anders Lindblad, Chairman of the Board of AH Industries, comments: "Knud Andersen has broad and solid experience of leading positions within the wind energy industry and other industrial companies several of which, like AH Industries, have faced challenging market conditions. The Board is convinced that Knud, together with the management team and other employees, has good opportunities to create sustainable profitability in AH Industries while continuing to develop the company in line with the present strategic direction.
"During his eight years as CEO of AH Industries, Steffen has been a highly appreciated leader and, together with the management team and the rest of the organisation, has done a good job during the tough years since the financial crisis in 2008. Under his leadership AH Industries has progressed from being a supplier of individual components into a global partner company which delivers solutions in co-operation with its customers. Therefore, I appreciate the fact that Steffen has agreed to stay on for a period, in order to take on some specific tasks for the Board and the new CEO," says Anders Lindblad.
AH Industries is one of the world's leading suppliers of components, modules, systems and services primarily to the wind energy, cement and minerals industries. The company is specialised in manufacturing and machining heavy metal components with high demands on precision. AH Industries has production facilities in Denmark, China and Germany. The group has a total of approximately 420 employees. Ratos's holding amounts to 69%.
Knud Andersen will take up his position on 15 May 2013.
For further information, please contact: Robin Molvin, Senior Investment Manager Ratos, +46 706 95 50 49 Anders Lindblad, Chairman of AH Industries, +46 705 51 87 72 Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 8 700 17 20
Financial calendar from Ratos: Annual General Meeting 2013 17 April 2013
Interim Report January - March 2013 8 May 2013
Interim Report January - June 2013 15 August 2013
Interim Report January - September 2013 8 November 2013
Ratos is a private equity conglomerate. The company's mission is to maximise shareholder value over time through the professional, active and responsible exercise of its ownership role in primarily medium to large unlisted Nordic companies. Ratos's holdings include AH Industries, Arcus-Gruppen, Biolin Scientific, Bisnode, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Mobile Climate Control and SB Seating. Ratos is listed on Nasdaq OMX Stockholm and market capitalisation amounts to approximately SEK 22 billion.