latest news releases from the newsroom
Urban Backstrom to leave post as CEO of Skandia Liv for position as Director General of the Confederation of Swedish Enterprise
STOCKHOLM, Sweden, April 27, 2005 (PRIMEZONE) -- Skandia Liv's Chairman, Bo Eklof, comments: "I warmly congratulate Urban Backstrom on this new, exciting assignment that will entail a great deal of responsibility. On behalf of Skandia Liv, naturally I regret that he is leaving. However, it is with much satisfaction to note that, under Urban Backstrom's leadership, Skandia Liv has regained both confidence and stability and is now well equipped to take on future challenges in the life assurance market. Similarly, considerable quality improvements have been made in several areas, not least in asset management.
Scania Interim Report, January -- March 2005
SODERTALJE, Sweden, April 27, 2005 (PRIMEZONE) -- "Scania's operating income in the first quarter of 2005 rose by 15 percent to SEK 1,679 m. The operating margin climbed to more than 12 percent. Net income rose by 19 percent to SEK 1,155 m., which resulted in earnings per share of SEK 5.78 (4.87)," says Leif Ostling, President and CEO.
Horizon Offshore Inc.
Horizon Offshore Announces Election of New CEO, CFO
HOUSTON, April 26, 2005 (PRIMEZONE) -- Horizon Offshore, Inc. (Pink Sheets:HOFF) announced today that its board of directors has elected David W. Sharp, currently its Executive Vice President and Chief Financial Officer, as President and Chief Executive Officer. Mr. Sharp also was elected to the Company's board of directors for a term expiring in 2007 to fill the vacancy caused by the resignation of Bill J. Lam in December, 2004. The Company also announced the promotion of Ronald D. Mogel, currently Vice President International Accounting and Tax of the Company's subsidiary Horizon Offshore Contractors, Inc., to Chief Financial Officer. The elections will be effective on April 30, 2005. Richard A. Sebastiao of RAS Management Advisors, Inc., a turnaround and management consulting firm, who functioned as the Company's Chief Restructuring Officer and principal executive officer since August 30, 2004, has resigned, also effective on April 30, 2005.
InterCommerceCorp Announces Agreement for Acquisition of CipherPass Corp.
LOS ANGELES, April 26, 2005 (PRIMEZONE) -- InterCommerceCorp (Pink Sheets:ICMC), announces its plans to acquire a 100% interest in CipherPass Corp., a digital security company that delivers software and services solutions for protecting confidential data and enhancing security compliance. Under the terms of the agreement and at the closing of the transaction, InterCommerceCorp will change its name to CipherPass Corp. and apply for a new trading symbol from the NASD.