Peter Forhaug Appointed Chairman of the Board at Polystar Group

Farsta, SWEDEN

Stockholm, Sweden, Dec. 11, 2012 (GLOBE NEWSWIRE) -- ( -- Polystar, a leading supplier of Service Assurance, Network Monitoring and Test Solutions for the telecom market, today announced the appointment of the new chairman of its executive board, effective immediately.

Upon the unanimous decision, taken at the recent ordinary board meeting, Peter Forhaug has been appointed chairman of the Polystar Group executive board, succeeding Mikael Grill, the founder, owner and major shareholder of the company.

Mikael Grill was reinstated as the CEO of the Polystar Group in February 2011. To be able to give this engagement his full focus, Mikael has stepped aside from the chairman position, but remains active member of the executive board. "I am pleased that Peter Forhaug has accepted to serve as chairman of the board," commented Mikael Grill. "I am confident to hand over the chair to such a professional as Peter, who is bringing significant experience and fresh ideas that will further enhance our strategic development plans. With this change, Polystar will be able to develop the board to do the strategic and governance work that is required to take the next step in the Polystar's evolvement. Furthermore, I will be able to fully dedicate my time to master and sustain this exceptional growth that we are experiencing."

Peter Forhaug has been a member of Polystar's executive board for the last eight years. Peter is currently serving as chairman or board member in other companies around the Nordic region. His key expertise is Financial and Strategic business development, with a professional background as a CFO and Investment Director for public companies. Mr. Forhaug runs his own consulting and investment company. Commenting on his new role, Peter Forhaug said: "It is a true honour for me to be appointed as the chairman of Polystar's executive board. I have been following the development of the company for the last twelve years. I am looking forward to working with Polystar's management team to help achieve the next level of growth. Polystar has an excellent combination of best-in-class technology and a great team committed to ensure their customers' success in this rapidly growing market. I will do my utmost to steer this company to a continuous success on the road to becoming the number one vendor in the telecommunication monitoring and testing area," added Peter Forhaug.

About Polystar

Polystar is the premier supplier of Service Assurance, Network Monitoring and Test Solutions to leading telecom operators, service providers and network equipment manufacturers around the globe. Polystar's innovative product portfolio supports the complete lifecycle of new services and technologies-from design, pre-deployment verification and stress-testing, through roll-out, down to network assurance and service management of in-service mobile, fixed, IP or converged networks. Since its establishment in Stockholm in 1983, it has experienced a continuous and sustainable growth, and evolved to a global presence, serving its customers in over 50 countries. For more information, visit">


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