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2016-11-21

ELTEL: Eltel appoints Lars Nilsson as interim CFO

Eltel AB's CFO Gert Sköld is due to excessive workload in recent
months on temporary leave of absence to recover. Eltel has hired Mr
Lars Nilsson (60) as the interim CFO during Mr Sköld's leave of
absence. Mr Nilsson will assume responsibility for the duties of CFO
as of 21 November, he will report to Eltel's President and CEO Håkan
Kirstein and he will be a member of the Group Management Team.

Håkan Kirstein, President and CEO at Eltel comments: "We recognise
that Gert, due to heavy work load in the recent months, has to take
some time off to recover. During his absence we have made a temporary
solution and hired Lars Nilsson as the interim CFO. It's reassuring
that we already have a very competent financial function and the rest
of the management will ensure that no disruptions in the daily
business will occur and will also fully support Mr Nilsson in a
smooth and fast transition into his duties. Eltel's management is
currently putting a lot of efforts into the ongoing project business
review including planning of corrective actions to improve the
business performance and return back on track".

Mr Nilsson has extensive experience in various sectors with top
management positions, mainly as CFO, in among others Tele2 (publ),
Axfood (publ), ABB Financial Services, Fritidsresegruppen and most
recently Nordic Cinema Group. Mr Nilsson holds a Master of Science in
Business and Economics.

For further information:
Ingela Ulfves
VP - IR and Group Communications
Tel: +358 40 311 3009, ingela.ulfves@eltelnetworks.com

This information is information that Eltel AB is obliged to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the contact
person set out above, on 21 November 2016 at 08.00 CET.

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.

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http://news.cision.com/eltel/r/eltel-appoints-lars-nilsson-as-interim-cf...
http://mb.cision.com/Main/11435/2126958/592755.pdf

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