Ulf Lilius new President & CEO of B&B TOOLS
B&B TOOLS Changes board/management/auditors Ulf Lilius new President & CEO of B&B TOOLS The Board of Directors of B&B TOOLS AB has appointed Ulf Lilius as the new President & CEO from 1 November 2012. Ulf Lilius has been the President of TOOLS Momentum since 2010, which has been the B&B TOOLS Group’s most profitable business for many years. Ulf Lilius’ previous positions include Marketing and Sales Director and Executive Vice President of TOOLS Momentum (2002-2010), as well as sales manager of SKF Multitec (1996-2002). Ulf Lilius is 40 years old and holds a Bachelor of Science in economics with a specialisation in marketing and management from the University of Tampa in Florida, USA. To help facilitate a smooth transition for his successor, the current President, Stefan Wigren, will continue to be involved in the Group until 31 December 2012. Thereafter, Stefan Wigren will be available to assist the Board and his successor during the spring of 2013. Upon his own request, Stefan Wigren will also step down from the Board of Directors of B&B TOOLS AB when he resigns as President on 1 November 2012. “After more than 11 years as President of the B&B TOOLS Group, Stefan Wigren and the Board of Directors have engaged in a constructive discussion concerning a successor to the CEO position,” says Chairman of the Board Anders Börjesson. “Stefan has held a key role in the development of B&B TOOLS during his years as President and we would like to thank him for all his contributions.” “Following a period of extensive change, the Group is now entering a new phase,” says Anders Börjesson. “In the future, a lot of focus will be on such areas as value-based sales, profitability and customer proximity. Ulf Lilius has broad experience in these areas and the Board of Directors is confident that Ulf will lead the Group in this direction with great success.” B&B TOOLS will arrange an investor meeting in connection with publication of the Interim Report for April-September 2012 on 8 November 2012 with both the outgoing and the incoming CEOs. The meeting will be held in Stockholm on 9 November 2012 at 08:00 a.m., and an invitation will be issued in the form of a separate press release. Stockholm, 11 October 2012 B&B TOOLS AB (publ) For further information, please contact: Anders Börjesson, Chairman of the Board, B&B TOOLS AB, tel: +46 10-454 77 00 Stefan Wigren, President & CEO, B&B TOOLS AB, tel: +46 10-454 77 00 Ulf Lilius, tel: +46 10-454 77 00 B&B TOOLS is required to disclose the above information in accordance with the Swedish Securities Markets Act, the Swedish Financial Instruments Trading Act or the regulations for issuers on NASDAQ OMX Stockholm. This information was submitted for publication on 11 October 2012 at 07:45 a.m.