19 Mar 2008

Large movements in Assa's board of directors

Dagens Industri, March 19, 2008

ASSA ABLOY's board of directors will get five new members, while Melker Schörling, who has been board member for 13 years and owns 4 per cent of the capital and 11,6 per cent of the votes resigns. Ulrik Svensson, CEO of Melker Schörling AB will be the new representative for Melker Schörling AB in ASSA ABLOY's board of directors, while Mikael Ekdahl, also from Melker Schörling, takes place in the nomination committee. Ulrik Svensson explains that this is all about a changed division of labour in Melker Schörling AB. He denies that this is a sign that Melker Schörling AB intends to decrease its stake in ASSA ABLOY. Gustaf Douglas, who has left his post in the board of directors of Securitas, will remain chairman of Assa Abloy. Ulrik Svensson says that although Melker Schörling AB and Gustaf Douglas companies Latour and Säki has a fantastic cooperation, this is no elaborated division of labour between Schörling and Douglas.

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