Press release, September 1, 2011

Press release, September 1, 2011

 

Mats Gärdsell has been appointed new Chief Executive Officer of MQ. He
has extensive experience from various positions within the Swedish and
international retail area and adds vast knowledge of strategic brand
development. Mats Gärdsell is currently the CEO of Åhléns, and before
that he spent eight years at Lindex. He will assume his position on
October 3, 2011.

During the past few years, MQ has gone through significant structural
changes and developed from a collaboration of independent retailers to a
fully integrated retail chain with growth ambitions throughout the
Nordic region. During the last quarter a major brand-positioning
project, with the aim to increase clearness of the brand MQ, was
completed.

“We are very pleased with our recruitment of Mats Gärdsell. His person,
experience and qualifications are perfect for the continuation of MQs
development as a competitive actor on the Nordic fashion market”,
comments Erik Olsson, Chairman of the Board of Directors.

Mats Gärdsell is 52 years of age and holds a degree in industrial
economics from Linköping University. He is currently the CEO of Åhléns
and has substantial experience from previously held executive positions
within the international clothing and retail area, among other things as
regional director for Sweden and the Czech Republic as well as marketing
director of Lindex, where he was active for eight years. He has also
held positions at Levi's and Cap Gemini in Belgium as well as KFC in
Australia. He will assume his position on October 3, 2011.

“It is with great enthusiasm that I assume the position as CEO of MQ - a
growth company with the right position and a challenge that suits my
experience and background. This was a possibility I could not resist and
I look forward to develop and strengthen most interesting chain of
branded fashion wear in the Nordic region together with the executive
team and all co-workers”, comments Mats Gärdsell, future CEO of MQ.

For more information, please contact:

Erik Olsson, chairman of the Board of Directors, telephone 031-388 80 15

Mats Gärdsell, telephone 0702-77 74 94