STOCKHOLM, Sweden, Jan. 27, 2004 (PRIMEZONE) -- Carl-Olof By, Executive Vice President of Industrivarden, today informed Skandia's Nominating Committee that he will no longer be participating in the Committee's work. The background to this is that, in connection with the fact that the proposal to Skandia's board has now been submitted to the Extraordinary General Meeting, Carl-Olof By feels that he has completed his assignment. Industrivarden sold its entire holding in Skandia at the end of December 2003.
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