Investor AB: Percy Barnevik To Step Down As Chmn
Dow Jones Newswires
STOCKHOLM -- Percy Barnevik is retiring as chairman of the board of Sweden's Investor AB (S.INV), the company said Wednesday.
Claes Dahlbaeck, formerly executive vice chairman of Investor AB's board, has been proposed as a replacement for Barnevik.
"After serving 16 years on the board and five years as chairman, I have decided to retire as planned," Barnevik said.
Percy Barnevik also stepped down as non-executive chairman of Swiss-Swedish engineering giant ABB Ltd. (ABB), and earlier this month said he wouldn't seek re-election as board chairman of Swedish engineering group Sandvik AB (S.SAN).
He still holds the position of board chairman of Anglo-Swedish pharmaceutical company AstraZeneca Plc (AZN).
In addition to Claes Dahlbaeck, other board members proposed for re-election are Haakan Mogren, Koichi Nishimura, Anders Scharp, Peter D. Sutherland, Bjoern Svedberg, Marcus Wallenberg and Jacob Wallenberg.
Jacob Wallenberg, formerly executive vice chairman, has been nominated to take the position of vice chairman of Investor's Board.
Both Jacob Wallenberg and Claes Dahlbaeck are no longer employed by Investor AB, effective Jan. 1, the company said.
Michael Treschow, a member of Investor's Board since 1997, has also declined re-election because of his nomination as chairman of the board of Telefon AB LM Ericsson (ERICY) in the autumn of 2001.
Investor AB proposed that Sune Carlsson, president and chief executive of SKF AB (SKFRY) be elected a new board member of Investor AB.
Shareholders representing over 50% of the votes in Investor AB have declared their support for the board changes, the company said.
Company Web site: investorab.com |
