12.07.2011

In today’s extraordinary meeting, the Supervisory Board of the SAG Group GmbH has appointed Mr. Joakim Olsson as new CEO of the SAG Group GmbH and further SAG companies. He will come into office on August 15, 2011.

Mr. Olsson (46) studied Mechanical Engineering at the Royal Institute of Technology in Stockholm and holds an MBA from INSEAD in Fontainebleau. He served many years in leading positions in the ABB Group, initially in Sweden and in the United States. Thereafter, he was working in Germany for five years, most of the time as CEO of ABB’s transformer company (ABB Transformatoren GmbH) with three production plants. Later, he was globally responsible for this division headquartered in Zurich and finally country manager of ABB Brazil.

In June 2005, Mr. Olsson switched as CEO to Haldex AB, a global supplier to the automotive industry, publicly listed at the Swedish Stock Exchange. He was, amongst other things, in charge of the successful IPO of the hydraulic division, now trading under the name Concentric AB.

The Chairman of the Supervisory Board Dr. Manfred Krüper stated: “The Supervisory Board is very pleased that we could engage this strong personality as CEO of SAG. With this SAG has a strong management team for the upcoming challenges in the energy sector”.

Further members of the SAG Management Board are Sven Behrend (COO) and Thomas Kleibl (CFO).