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Share 2016-09-23 17:29 RATOS B 40.16 SEK

Klaus Høeg-Hagensen new CEO of Stofa

2011-06-21

This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.

Klaus Høeg-Hagensen has been appointed as the new CEO of Ratos's subsidiary Stofa, effective 1 August 2011. He comes most recently from Jyllands-Posten, where he has served as Managing Director since 2007.

Klaus Høeg-Hagensen, 41, has extensive experience from the media business and consumer-related companies, including Ecco Sko and Dansk Supermarked. He comes most recently from the Danish daily newspaper Jyllands-Posten, where he has worked since 1995 and has served as Managing Director since 2007. He succeeds Ole Simonsen, who has been CEO of Stofa since 2000. Ole Simonsen will continue to work for the company as Executive Deputy Chairman with responsibility for Stofa's co-operation with the antenna associations.

"Klaus Høeg-Hagensen has worked for many years in the newspaper business, which like the cable TV market has undergone major changes and adapted to new technology and customers' changed media consumption. We believe that this experience makes him highly suitable as CEO of Stofa. We on the Board are convinced that Klaus - together with the management team and other employees - will further strengthen Stofa's offering and profitability", says Lars Torpe Christoffersen, Chairman of the Board of Stofa.

"After 11 years as CEO of Stofa, Ole Simonsen has decided that it is time to leave that role. Ole has been a driving force behind developing Stofa in its current form, with a strong brand and strong position in both the TV and broadband markets. We are therefore pleased that Ole has decided to continue to serve as Deputy Chairman with responsibility for our co-operation with the antenna associations", continues Lars Torpe Christoffersen.

Klaus Høeg-Hagensen will assume his new position on 1 August 2011.

Stofa is a Danish triple-play operator (broadband, cable TV and telephony) that provides some 350,000 Danish households with cable TV and more than 40% of these also with broadband. The company's services are delivered in co-operation with 300 antenna associations throughout Denmark. In addition, Stofa also sells interactive TV services (pay-per-view), broadband and IP telephony to end subscribers.

For further information, please contact:
Per Frankling, Investment Director, Ratos, +46 8 700 17 80
Lars Torpe Christoffersen, Chairman of the Board, Stofa, +45 20 21 00 00
Klaus Høeg-Hagensen, CEO designate, Stofa, +45 20 19 41 81
Emma Rheborg, Head of Corporate Communications and IR, Ratos, +46 8 700 17 20