STOCKHOLM, Sweden - (Business Wire) Regulatory News:
Prior to the Annual General Meeting on October 20 Morphic’s (STO:MORPB) Nominating Committee has decided to propose Peter Ekenger as a new member of the company’s Board of Directors. The Nominating Committee proposes that Peter Enå (Board Chairman), Kurt Dahlberg, Kjell Östergren and Anette Myrheim be re-elected to the Board. Eva-Lotta Kraft and Lars Olof Nilsson have declined re-election and have decided to step down from the Board with effect from August 26. In connection with the AGM Jan Alvén will transfer to a consulting role in order to assist Morphic during the continued industrial build-up in the Group.
“Peter Ekenger has extensive international experience of establishing new businesses in the automotive industry as well as in the energy & environment field. As a business consultant, he has performed assignments for Volvo, Bure and the Clinton Climate Initiative, among other clients. As we enter a higher-intensity, more aggressive phase, we have decided to immediately call in Peter Ekenger to assist the Board in this work”, Peter Enå, Chairman of Morphic Technologies AB, says.
Peter Ekenger is project manager for “Vind i tankarna” (Running on Wind), a project aimed at improving Sweden’s competitiveness in the electrical power and automotive industries. Its goals include creating incentives for Swedish production of wind turbines and promoting the use of electricity from wind turbines to power vehicles. The project is run by the industry association Power Circle with support from the Swedish Energy Agency.
Peter Ekenger, born in 1945, holds an M.Sc. in Economics and Business from the School of Business, Economics and Law at the University of Gothenburg and a management degree from Harvard Business School. He began his career with a series of executive positions at Volvo in Gothenburg and Latin America and has long experience of working as an international business consultant, both independently and in various international organizations, focusing on the transport and automotive industries. He has also been Secretary-General of the European Round Table of Industrialists and Director of the Swedish Chamber of Commerce in Brazil. In 2007-2008 Peter was involved in building an organizational structure in Latin America and Europe for the Clinton Climate Initiative (CCI), an organization that works with 40 of the world’s largest cities to initiate the best possible technologies for achieving sustainable development.
Peter Ekenger is independent in relation to both Morphic and its major shareholders. Morphic’s Nominating Committee consists of Kåre Gilstring, Lars Bruzelius, Peter Enå och Kurt Dahlberg. The Nominating Committee’s other proposals relating to Directors’ fees and the election of an auditor are expected to be published in connection with the notice of AGM.
Morphic Technologies is a Swedish manufacturer of energy systems based on renewable electricity production and resource-efficient technologies for large-series components production. The Group conducts operations in Sweden (Karlskoga, Filipstad, Kristinehamn and Gothenburg), Norway, Japan, Greece, Italy and Switzerland. The company’s B shares have been listed on the OMX Nordic Exchange since March 2008. More information about the company is available at www.morphic.se.
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Morphic Technologies AB
Johannes Falk, Investor Relations
phone: +46 70 676 7393
e-mail: johannes.falk@morphic.se
