STOCKHOLM, Sweden, March 05, 2002 (PRIMEZONE) -- Christian Luiga has been appointed as Framfab's new Chief Financial Officer (CFO). Christian Luiga, currently works at Intentia as the company's chief controller. Johan Haeggman, Framfab's current CFO, previously indicated a desire to resign his position now that Framfab has completed restructuring the business and restored financial stability. After three years at Framfab, he will become a partner with Inveritas, a consulting firm.
"Christian Luiga's experience of sales and consulting operations in multiple countries while at Intentia, a rapidly expanding software company, are valuable to Framfab as it begins a new phase of expansion into Europe," said Sven Skarendahl, executive Chairman of the Board of Framfab.
Christian Luiga has vast experience of the international consulting and software industries. He joins Framfab from Intentia International, a company listed on the stock exchange. As chief controller at Intentia, he has been responsible for leading and developing financial control, follow up and planning. He is also a member of Intentia's operative executive management team. Prior to this, Christian Luiga worked as the financial manager for the Nordic operations of the US company Intermec Technology Inc. He has also served as chief controller for United Barcode Industries (UBI) and financial manager for UBI's US subsidiary.
Christian Luiga has a degree in finance from Stockholm University. Christian will begin his new position on April 25.
Johan Haeggman joined Framfab in 1999 and took a leading role in the company's listing on the Stockholm stock exchange. He also took active part in leading Framfab's international expansion and restructuring. He will remain with Framfab until the Annual General Meeting on May 7.
"Together with the rest of the executive management team, Johan Haeggman has implemented a major restructuring of Framfab, which allowed the company to show profit in the fourth quarter of 2001 and has given the company a secure cash position. The board of directors wholeheartedly thanks Johan Haeggman for his efforts and wishes him the best of luck in his future carrier," Sven Skarendahl emphasizes.
"Johan has made a significant contribution toward turning the company around, and I consider it natural that he now wants to take on new challenges," said Johan Wall, CEO Framfab.
"My time at Framfab has been incredibly stimulating, productive and eventful. It feels good to be able to turn my responsibilities over to Christian Luiga after financial stability has been restored in the company," Johan Haeggman said.
Framfab is a leading supplier of consultancy services and business solutions based on Internet technology. Framfab's customer base primarily consists of major international companies such as 3M, AXA, Coca-Cola, Danske Bank, Electrolux, Ericsson, Hydro Texaco, IKEA, Kellogg's, Maersk Sealand, McDonalds, NEC Packard-Bell, Nike Europe/US/Asia Pacific, Observer, Postbank, Quelle Versicherungen, SAAB, Volvo Car Corporation, Volvo Group and UBS. Framfab operates in Denmark, France, Germany, the Netherlands and Sweden. Framfab is listed on the O-list of the OM Stockholm Stock Exchange (ticker FTID).
For additional information, visit www.framfab.com.
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