Change of CEO at MQ

Change of CEO at MQ

Johan Elfner is to leave the position as CEO of MQ Holding AB. A
recruitment process to appoint his successor has been initiated. The
company's CFO and Executive Vice President, Tony Siberg, will serve as
Acting CEO of MQ until a new CEO has been appointed. 

During the past few years, MQ has gone through significant structural
changes and developed from an independent chain of co-operating traders
to a fully integrated specialist retail chain.

Erik Olsson, Chairman of the Board of Directors at MQ, comments:
“Johan Elfner has made a significant contribution to MQ passing a number
of important milestones in our ambition to be the leading branded
fashion wear chain in the Nordic region. A large part of the transition
work has been led by Johan, which included opening own production
offices in Asia, listing on NASDAQ OMX Stockholm, launch of stores in
Norway as well as strengthening the management team with new
competence.”

The assessment made by the Board of Directors of MQ Holding AB is that
this is the right time for new leadership of the company, and current
CEO Johan Elfner will therefore leave his position.

Tony Siberg, CFO and Executive Vice President, will assume the position
of Acting CEO until a new CEO has been appointed. A recruitment process
has been initiated.

For more information, please contact:

Erik Olsson, Chairman of the Board of Directors, telephone +46 (0)31-388
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