Fredrik Cappelen to resign as CEO of Nobia at 2008 Annual General Meeting

The President and CEO of Nobia, Fredrik Cappelen, has informed Nobia's Board of Directors that he intends to stand down as CEO of the company at Nobia's 2008 Annual General Meeting.

 

"Naturally, we regret that Fredrik has decided to leave Nobia. At the same time, we have full respect for Fredrik's desire to seek new challenges after so many years as a highly successful CEO. Under his leadership, Nobia has developed into the leading kitchen company in Europe, with net sales of SEK 16 billion," says Hans Larsson, Chairman of the Nobia Board.

 

"It has been a very exciting challenge to develop Nobia into what it is today. After 14 years as CEO of the company, and with a clear growth-focused strategy in place, I believe that Nobia has reached a phase in which it is natural to hand over to new energy," says Fredrik Cappelen.

 

Fredrik Cappelen, who was born in 1957, has been the CEO of Nobia since 1994.

 

Hans Larsson and Fredrik Cappelen will be available to respond to questions in conjunction with today's presentation of Nobia's results for the third quarter 2007 at 10:00 CET. The presentation can be viewed live via www.nobia.com.

 

 

Ingrid Yllmark, Director Communications and IR, Nobia,

Tel: +46 8 440 16 00 or +46 (0)708 65 59 00

 

 

Nobia AB

25 October, 2007

 

  

 

As the leading kitchen company in Europe, Nobia is championing the consolidation of the European kitchen industry. Nobia creates profitable growth by enhancing efficiency and making acquisitions. The Nobia Group works with 20 strong brands in many European countries. Sales are mainly generated through specialised kitchen studios, both wholly owned and franchised. The Group has about 8,000 employees and net sales of approximately SEK 16 billion. Nobia is listed on the OMX Nordic Exchange in Stockholm. More information is available at www.nobia.com.