Proposed changes in Atlas Copco’s Board of Directors
March 26, 2002
Stockholm, Sweden, March 26, 2002 - At the Annual General Meeting of Atlas Copco AB, to be held April 29, 2002, shareholders will vote on two new Board members: Gunnar Brock, who will be President and CEO of the Atlas Copco Group from July 1, and Charles Long, former Vice-Chairman of Citicorp and a member of the board of Atlas Copco North America Inc.
The following members have been nominated for re-election to the Board of Atlas Copco: Anders Scharp, Jacob Wallenberg, Sune Carlsson, Kurt Hellström, Lennart Jeansson, Thomas Leysen, Ulla Litzén, and Michael Treschow.
Gunnar Brock and Charles E. Long have also been nominated for election to the Board.
Mr. Long, born in 1940, is the former Vice-Chairman of Citicorp and its principal subsidiary, Citibank, North America. He is a member of the Board of Directors of U.S.-based Introgen Therapeutics, The Drummond Company, Atlas Copco North America Inc., and Sweden-based Gendux AB.
Mr. Brock, born in 1950, will be President and CEO for the Atlas Copco Group from July 1, 2002. He is a member of the Board of Directors of OM AB, Sweden; Lego AS, Denmark and a member of the Royal Swedish Academy of Engineering Sciences (IVA).
Giulio Mazzalupi, President and CEO of the Atlas Copco Group until June 30, and Hari Shankar Singhania, President and CEO of J.K. Organization, India, have declined re-election.
The nominations for Board members are supported by the following shareholders representing a total of more than 25 percent of the votes in the Company; Investor, Robur Fonder, and Alecta, all based in Sweden. The nomination process is described in Atlas Copco’s Annual Report, which will be published on March 27, 2002.
Annika Berglund, SVP Group Communications, Atlas Copco AB
+ 46 8 743 8070, mobile +46 70 322 8070
e-mail: [email protected]
Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 2001, the Group had revenues of SEK 51 billion, with 98 percent of revenues outside Sweden, and close to 26.000 employees. The Group produce and market compressed air equipment and generators, construction and mining equipment, electric and pneumatic tools, assembly systems, and offers related service and equipment rental. More information can be found on the web site: www.atlascopco-group.com.