January 20, 2009
Stockholm, Sweden, January 20, 2009: The Board of Directors of Atlas Copco AB has appointed Ronnie Leten as the new President and CEO of Atlas Copco AB, effective June 1, 2009. He will replace Gunnar Brock, who has requested to leave his position after having run Atlas Copco successfully during seven years.
“Ronnie Leten has a broad industrial experience and a proven strong capacity to lead a large industrial operation from his position as President of the Compressor Technique business area,” says Sune Carlsson, Chair of Atlas Copco’s Board of Directors. “We are convinced that Ronnie is well suited to make the most out of Atlas Copco’s opportunities and continue to develop the Group.”
Between 1985 and 1999 Ronnie Leten held various positions within the Compressor Technique business area within IT, logistics systems, supply management, distribution and manufacturing. In 1999, he became President of the Airtec division and in 2001, President of the Industrial Air division. Ronnie Leten has been President of Compressor Technique since 2006.
Ronnie Leten is a Belgian citizen, born in 1956. He has a university degree in Applied Economics from Hasselt University, Belgium.
“During the seven years that Gunnar Brock has been with Atlas Copco the Group has been through major changes and at the same time achieved a very high growth and profitability. We are grateful for his achievements and are at the same time glad to have recruited his replacement inside the company,” Sune Carlsson says.
Gunnar Brock will resign from the Board of Atlas Copco AB at the AGM in April. The Nomination Committee of Atlas Copco will propose that Ronnie Leten will replace Gunnar Brock in the Board of Directors of Atlas Copco AB at the AGM.
Ronnie Leten will be the second non-Swede to run Atlas Copco from its headquarters in Nacka, Sweden, and the 11th President and CEO since the company was founded in 1873.
A press conference will be held at 11.00 CET. See separate press release for details. For photos of Ronnie Leten go to www.atlascopco.com/photo.
For further information please contact:
Daniel Frykholm, Media Relations Manager
+46 (0)8 743 8060 or +46 (0)70 865 8060
Atlas Copco discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.