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2014-07-04

Bong AB: Anders Davidsson moving on to new challenges; Stephane Hamelin new CEO of Bong

After more than 10 years as CEO of the Bong group, Anders Davidsson is
now moving on to a new job outside Bong. Stephane Hamelin, Bong's
Chairman and also the largest shareholder, will assume the role as
CEO with immediate effect.

Anders Davidsson has accepted an offer to become the CEO of Kwintet,
the European leader in professional work wear. Kwintet has an annual
turnover of around Euro 500 million and is headquartered in Malmö.

"It has been a pleasure to work with Anders Davidsson, not only
because of his professional skill, but also because of the moral
values we have in common", says Bong's Chairman Stephane Hamelin.
"Last year, he played an important role in securing the new rights
issue and the refinancing of the group. He also led the work to
develop and initiate a comprehensive turnaround plan for Bong, which
is now being rolled out. We thank Anders for his years with Bong and
wish him good luck in his future career."

In order to keep the current momentum in the ongoing transformation of
the company, Stephane Hamelin, who knows the envelope and packaging
industry very well and was closely involved in developing the
turnaround plan, will take the role as CEO with immediate effect. The
senior and experienced leadership team that is already in place will
support Stephane Hamelin. Anders Davidsson will also stay for some
time to secure a smooth handover.

Stephane Hamelin joined Bong's Board of Directors in 2010 and has been
the Chairman of the Board since May 2013. He has an extensive
experience of the office products industry and also knows the
envelope industry very well. Before the merger with Bong in 2010, he
used to personally run the envelope division of Groupe Hamelin for
many years. While it is unfortunate that Anders Davidsson leaves, the
fact that Stephane Hamelin now takes the role as CEO will mean that
the turnaround can continue with full force.

Stephane Hamelin will resign from his position as Chairman at the same
time when he takes the role as CEO of the group. The Board of
Directors has instead decided to appoint Eric Joan as new Chairman of
Bong until the next Annual General Meeting.

Malmö, July 4, 2014

For questions, please contact Stephane Hamelin at +33 608 45 31 53.

Bong is a leading provider of specialised packaging and envelope
products in Europe, offering solutions for distribution and packaging
of information, advertising materials and lightweight goods.
Important growth areas in the Group are the Propac packaging concept
and Russia. The Group has annual sales of approximately SEK 2.5
billion and about 1,900 employees in 15 countries. Bong has strong
market positions in the majority of key markets in Europe, and the
Group sees interesting possibilities for continued expansion and
development. Bong is a public limited company and its shares are
listed on NASDAQ OMX Stockholm Small Cap.

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http://news.cision.com/bong-ab/r/anders-davidsson-moving-on-to-new-chall...
http://mb.cision.com/Main/759/9612549/263962.pdf

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