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2016-06-07

ELTEL: CEO Axel Hjärne to leave Eltel

The CEO of Eltel, Axel Hjärne, has decided to leave his position. Axel
Hjärne has been with Eltel for twelve years, and he has been CEO for
the last seven years. Over these years Eltel has grown significantly
from being a local Nordic player to becoming the leader in the
Infranet industry in Northern Europe. In February 2015 Eltel was
successfully listed on Nasdaq Stockholm.

"I have been with Eltel for more than a decade now during which the
whole Eltel team has been through many positive and challenging
phases and together we have made great achievements. Today, Eltel has
a strong position and is well positioned for continued success. I
have now come to a point where I feel that the timing is good to hand
over to someone new and also personally reflect on my next steps",
says Axel Hjärne. I have enjoyed the journey with Eltel tremendously,
and I will miss my great colleagues and all exciting business
opportunities.

"It is with great regret that I have learned of Axel's plans to leave
Eltel, but I respect his personal decision. Axel has done an
outstanding job in restructuring, building and developing Eltel into
a leading profitable company in the Infranet industry. Axel is a
modern leader and he has put in place a strong and competent
management team, fully committed to further develop the Group", says
Gérard Mohr, Chairman of Eltel's Board of Directors.

The Board has initiated a recruitment process for the replacement of
Axel Hjärne, who will remain in his position until a successor is in
place.

The information above has been published pursuant to the Swedish
Securities Markets Act (Sw: Lag om värdepappersmarknaden) and the
Swedish Financial Instruments Trading Act (Sw: Lagen om handel med
finansiella instrument). This information was submitted for
publication on 7 June 2016 at 8.00 CET.

For more information, please contact:
Ingela Ulfves
VP - IR and Group Communications
Tel: +358 40 311 3009, ingela.ulfves@eltelnetworks.com
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About Eltel
Eltel is a leading European provider of technical services for
critical infrastructure networks - Infranets - in the segments of
Power, Communication and Transport & Security, with operations
throughout the Nordic and Baltic regions, Poland, Germany, the United
Kingdom and Africa. Eltel provides a broad and integrated range of
services, spanning from maintenance and upgrade services to project
deliveries. Eltel has a diverse contract portfolio and a loyal and
growing customer base of large network owners. In 2015 Eltel net
sales amounted to EUR 1,255 million. The current number of employees
is approximately 9,600. Since February 2015, Eltel AB is listed on
Nasdaq Stockholm.approximately 8,600 and in 2014, Eltel net sales
amounted to EUR 1,242 million. Eltel's share is listed on Nasdaq
Stockholm since February 2015.

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http://news.cision.com/eltel/r/ceo-axel-hjarne-to-leave-eltel,c2023932
http://mb.cision.com/Main/11435/2023932/525312.pdf

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