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2012-12-11 08:30

Lars Idermark resigns from PostNord

At a regular board meeting, Lars Idermark announced that he will leave his office as President and Chief Executive Officer of PostNord AB.

Lars Idermark was appointed President and CEO of PostNord in 2010. He will now leave PostNord to take up the position as President and CEO of the forestry group Södra. The date of his retirement will be determined later.

Fritz H. Schur, Chairman of PostNord’s Board of Directors, commented:

- Lars Idermark has made great efforts over the nearly two years he has worked in PostNord. During the time of Lars Idermark’s leadership, the corporate strategy which is now being implemented in the Group was created. Both substantial cost efficiencies and important developments for the future in the form of investments and acquisitions have been implemented.

- I understand Lars Idermark’s decision and his motives to go to Södra, but of course I regret his decision. We will begin the recruitment of his successor immediately.

Lars Idermark commented:

- There is never a right time to change jobs. The job I have done at PostNord has been tremendously stimulating and I have had a very good cooperation with the Chairman and the other Board members, PostNord’s management and employees. PostNord is now in an intense transformation phase where we are adapting our mail business to new conditions while developing our logistics business, based on our recently established corporate strategy. Naturally, I regret that I will not be able to complete this job.

- I have served as a Board member of Södra for more than ten years. The forest industry is very close to my heart. After more than 25 years in positions based in Stockholm and Gothenburg, it is a positive change for me that Södra's headquarters are located in Växjö near my home, so that my extensive commuting can cease. All in all, this meant that I could not turn down the opportunity to lead Södra.

PostNord AB (publ) discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 08.30 AM CET on December 11, 2012.

Last Updated: 2012-12-11 08:30