STOCKHOLM, Sweden, Jan. 21, 2004 (PRIMEZONE) -- Skandia's nominating committee proposes that the Extraordinary General Meeting on Wednesday, 28 January 2004, resolve that the number of directors elected by the General Meeting shall be six, and that the General Meeting appoint the following persons as directors on Skandia's board:
- Bjorn Bjornsson - Karl-Olof Hammarkvist - Eero Heliovaara - Lennart Jeansson - Birgitta Johansson-Hedberg - Christoffer Taxell
More detailed information on the proposed directors is included in an appendix to this press release.
The current directors on the Board have declared their seats available, and the Board has summoned an Extraordinary General Meeting to give the shareholders an opportunity to appoint the board they feel is best- suited for Skandia's continued work moving forward.
The current proposal for company directors is formally a by-election. This means that Bjorn Bjornsson and Eero Heliovaara, who are already serving on the Board, will continue to serve on the Board under their previous mandates. The other proposed directors will begin serving under the departing directors' mandates; one of these mandates extends until the 2004 Annual General Meeting, and three formally extend until the 2005 Annual General Meeting. However, the Nominating Committee expects that the new board will consider proposing to the Annual General Meeting on 15 April 2004 that it amend the Company's articles of association to the effect that a transition will be made to one-year mandate periods. In such case, the Nominating Committee intends to propose to the Annual General Meeting that all of the persons new being nominated be re- elected for an additional year, with the exception of Eero Heliovaara, who has declined re-election after the 2004 Annual General Meeting.
The Board includes, in addition to the directors elected by the General Meeting, two policyholder representatives who are appointed by the Swedish Consumer Agency and the Stockholm Chamber of Commerce, respectively. Boel Flodgren, who has been appointed by the Swedish Consumer Agency, will resign at the Extraordinary General Meeting. No new representative has been appointed by the Swedish Consumer Agency. Maria Lilja, who has been appointed by the Stockholm Chamber of Commerce, will continue to serve after the Extraordinary General Meeting. In addition to these directors, the Board also includes employee representatives appointed by the unions.
With respect to the chairman of the board, the Nominating Committee recommends that Bjorn Bjornsson continue to serve as chairman up until the Annual General Meeting on 15 April. Bjorn Bjornsson has notified the Company that for the time thereafter he will not be available to serve as chairman. Up until the time of the Annual General Meeting, the Nominating Committee will therefore consider a suitable candidate to serve as chairman for the time thereafter; such person may be recruited from within or outside of the proposed new board. The Board may also be complemented at the Annual General Meeting with additional members, aside from the five mentioned above.
According to the decision of the 2003 Annual General Meeting, Skandia's nominating committee consists of six members, including four representatives of the largest owners, one representative of the smaller owners, and one representative of the life assurance policyholders of Skandia Liv. These members were appointed in accordance with the decision of the Annual General Meeting based on the conditions that applied at the time of publication of Skandia's third-quarter interim report for 2003. The members of the Nominating Committee are Bjorn Wahlroos, chairman (Sampo), Ramsay Brufer (Alecta), Carl-Olof By (Industrivarden), Bo Eklof (Robur), Per Lofqvist (Skandia Shareholders' Association) and Lars Oberg (Skandia Liv's policyholders, appointed by the Stockholm Chamber of Commerce).
The Nominating Committee's proposal has the support of shareholders representing approximately 20 per cent of the votes in Skandia.
For further information, please contact: Gunilla Svensson, Presschef, tel.+46-8-788 25 00
Appendix
Presentation of the proposed company directors elected by the General Meeting
Bjorn Bjornsson (born 1946), M. Pol.Sc., financial consultant, Chairman of the Board of Skandia since December 2003, elected to Skandia's board in April 2003, director of Bure Equity, Billerud, JM and Ohman Kapitalforvaltning, among other companies.
Eero Heliovaara (born 1955), M.Sc. Econ., M.Sc. Eng., elected to Skandia's board in 2000, CEO of Pohjola Group.
Karl-Olof Hammarkvist (born 1945), Ph.D. Econ. Associate Professor of business economics with special focus on marketing in financial markets, co-opted professor at the Stockholm School of Economics, Vice Chairman of the Fourth Swedish National Pension Fund, former Executive Vice President of Nordea, former Executive Vice President of Skandia International.
Lennart Jeansson (born 1941), B.Sc. Econ., Executive Vice President and Deputy CEO of Volvo, Chairman of Stena and director of Stena Metall.
Birgitta Johansson-Hedberg (born 1947), Reg. Psychologist, B.A., departing President and CEO of Foreningssparbanken, Chairman of the Board of Lindex and Umea University, director of Sveaskog and the Swedish Securities Council.
Christoffer Taxell (born 1948), LL.B. and D. Pol.Sc. h.c., Minister.Chancellor of Abo Akademi, former President and CEO of Partek, former Finnish Minister of Justice, Chairman of the Board of Finnair and director of Sampo and Boliden, among other companies.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2004/01/21/20040121BIT00060/wkr0001.doc
http://www.waymaker.net/bitonline/2004/01/21/20040121BIT00060/wkr0002.pdf
Gunilla Svensson, Presschef tel.+46-8-788 25 00