Martin Lindqvist Appointed New CEO of SSAB

Regulatory News:

Martin Lindqvist has today been appointed as the new CEO of SSAB (STO:SSABA). He is currently head of the company’s largest business area, SSAB EMEA, and will succeed Olof Faxander, on January 1, 2011. Olof Faxander will become the new CEO of Sandvik AB.

"Martin possesses solid experience of the steel industry and SSAB. The Board believes that he is well suited for the task to lead SSAB’s continued development,” says Chairman of the Board Sverker Martin-Löf.

Martin Lindqvist is aged 48 and holds a Bachelor of Science in Economics. He began at SSAB in 1998 and has served as CFO of SSAB’s Strip business during 1999–2000, as Group CFO 2001–2008, as Head of the Strip Products Division 2008–2009, and since 2010 has been Head of the business area SSAB EMEA (Europe, Middle East and Africa).

Martin Lindqvist succeeds Olof Faxander, who will become the new CEO of Sandvik AB.

"Olof has successfully managed the transformation of SSAB into a modern and increasingly global steel company. At the same time, the specialization towards quenched steels has been strongly developed,” says Sverker Martin-Löf.

SSAB is a world-leading producer of high strength steels. SSAB offers products developed in close cooperation with customers, in order to create a stronger, lighter, and more sustainable world. SSAB has employees in more than 45 countries, with production plants in Sweden and the United States. SSAB is listed on NASDAQ OMX Nordic, Stockholm. www.ssab.com

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