David Woolley appointed President and CEO of Concentric

David Woolley appointed President and CEO of Concentric

David Woolley, at present head of Haldex Hydraulic Systems in Europe,
will succeed Ian Dugan as President and CEO of Concentric AB, presently
Haldex Hydraulic Systems Division, as of August 1, 2011

David Woolley, 49, has extensive experience of the company's operations.
David joined Concentric in 2002 as a member of the company's Group
Management Team. David was previously head of engine pump operations in
the UK and India and currently is head of Haldex Hydraulic Systems in
Europe. Previously, David has 12 years of experience from the automotive
sector . He was a member of the management team at Serck Heat Transfer
and later worked for Alstom and Honeywell in General Management roles.

“The appointment of David Woolley as the new CEO of Concentric ensures a
smooth hand-over and continuity as David has vast experience from
successfully running several operations within the organization” says
Joakim Olsson, President and CEO of Haldex AB.

David has a B.Sc. in Metals Technology, a BTR Diploma of Executive
Potential, a Post Graduate Diploma in Management Studies and a TEC and
Higher TEC in Material Technology.

As announced earlier this year, Ian Dugan will leave the company when a
successor has been appointed.

For further information, please contact:

Joakim Olsson, President and CEO +46 (0)8-545 049 52, or Lena
Olofsdotter, SVP Corporate Communications +46 8 545 049 63.