Cigarticles

Swedish Match Names New CEO and CFO


Business Wire

May 13, 2008 Tuesday 6:53 AM GMT

Swedish Match AB appoints new CEO and CFO;
The Swedish Match Board of Directors has today appointed Lars Dahlgren, 37, as the new President and CEO of the Swedish Match Group effective June 1, 2008.


DATELINE: STOCKHOLM, Sweden

Lars Dahlgren joined Swedish Match (STO:SWMA) in 1996 and has held several management positions within the Group, in Sweden as well as internationally. Lars Dahlgren was appointed CFO and Senior Vice President of Swedish Match in 2004. Lars Dahlgren holds a Master of Science in Economics and Business Administration from the Stockholm School of Economics.

"Lars Dahlgren has done an outstanding job as CFO of Swedish Match, and has during his years with the Company gained extensive experience from the tobacco industry and the Company, including its markets, competitors and consumers as well as the investor community. Lars knows the challenges and opportunities facing us, which makes Lars an excellent President and CEO, taking Swedish Match forward", says Conny Karlsson, Chairman of the Board of Directors.

In his new position, Lars Dahlgren will receive an annual base salary of 4,992,000 SEK and other benefits, including variable salary, according to the principles for remuneration decided by the Annual General Meeting.
 
 
Lars Dahlgren

Lars Dahlgren is succeeding Sven Hindrikes, 58, who earlier this year advised the Board of Directors that he wishes to retire during 2008.
 
 
Sven Hindrikes

At the same time Swedish Match has decided to appoint Joakim Tilly, 38, as the new Chief Financial Officer and Senior Vice President of Swedish Match AB. Joakim Tilly first joined Swedish Match in 1994 and is currently Senior Vice President Group Finance. He has held several positions in Group Finance as well as at divisional level. During the years 2001-2004 Joakim Tilly was CFO, and for a period also CEO of Netgiro in Sweden, an international Payment Service Provider. Joakim Tilly holds a Master of Science in Economics and Business Administration from the Stockholm School of Economics.
 
 
Joakim Tilly

JoakimTilly will take up his new position June 1, 2008 and will report to the new President and CEO Lars Dahlgren. Joakim Tilly will be a member of the Group Management Team of Swedish Match AB.

Swedish Match is a global Group of companies with a broad offering of market-leading brands in smokeless tobacco products, cigars, pipe tobacco and lights products. The Group's global operations generated sales of 12,706 MSEK for the twelve month period ending March 31, 2008. Swedish Match shares are listed on OMX Nordic Exchange in Stockholm (SWMA).

Swedish Match AB(publ), SE-118 85 StockholmVisiting address: Rosenlundsgatan 36, Telephone: +46 8 658 02 00Corporate Identity Number: 556015-0756www.swedishmatch.com

The character of the information is such that it shall be disclosed by Swedish Match AB (publ) in accordance with the Swedish Securities Markets Act. The information was disclosed to the media on 13 May, 2008 at 08.00 a.m. (CET).