|By Business Wire||
|September 4, 2012 02:06 AM EDT||
Sectra (http://www.sectra.com/) (STO:SECTB) announces today that Dr. Torbjörn Kronander has been appointed new President and CEO of the company. Torbjörn Kronander will assume his new duties on November 1, 2012. Since he recently turned 61, Sectra’s current President and CEO, Dr. Jan-Olof Brüer, has decided to step down after 27 years in the position.
Torbjörn Kronander is 55 years old. He is currently the Executive Vice President of the company and President of Sectra’s Medical Systems business area, which he helped form in the 1980s. This business area currently accounts for 88% of Sectra’s sales. Torbjörn Kronander will maintain his role as President of Medical Systems and member of Sectra’s Board of Directors.
“This will not entail any major changes for Sectra. I have enormous respect for Jan-Olof and we have a lot in common. The defined goals and strategies will not change, and it will now be up to me and our competent employees to continue in the spirit of Jan-Olof,” says Dr. Torbjörn Kronander. “We will miss not having Jan-Olof here, but it’s not difficult to understand that after almost 55 quarterly reports, he now wants to try something different. I have high hopes that, as a major shareholder, he will continue as our advisor and, eventually, as a Board member.”
Both Jan-Olof Brüer and Torbjörn Kronander are major shareholders in Sectra and each own shares corresponding to 16.9% of the votes.
“The appointment of Torbjörn Kronander is a natural changeover,” says Chairman of the Board, Carl-Erik Ridderstråle. “Torbjörn is an entrepreneur and experienced business developer – qualities that will be invaluable for continued growth.”
Jan- Olof Brüer will remain in his position until Torbjörn Kronander takes over.
“I would like to take this opportunity to thank Jan-Olof Brüer for his excellent work encompassing almost three decades,” says Carl-Erik Ridderstråle. “Jan-Olof has developed the company from a small consultancy to an international company, with products and services that are now used by customers in more than 50 countries worldwide.”
The information in this press release is such that Sectra AB (publ) is obligated to disclose pursuant to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was issued to the media for publication on September 4, 2012, at 07:55 a.m. (CET).
About the Sectra Group
Sectra was founded in 1978 and has its roots in Linköping University in Sweden. The company’s business operation includes cutting-edge products and services within the niche segments of medical IT and secure communication. Sectra has offices in 12 countries and operates through partners worldwide. Sales in the 2011/2012 fiscal year totaled SEK 823 million. The Sectra share is quoted on the NASDAQ OMX Stockholm exchange. For more information, visit www.sectra.com.
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