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2016-08-26

ELTEL: Håkan Kirstein appointed as Eltel's new CEO

Eltel's Board of Directors has appointed Håkan Kirstein as Eltel's new
President and Chief Executive Officer. He will commence in his new
position on 19 September 2016.

Håkan Kirstein is currently a member of the Board of Directors at
Eltel AB, which he joined in May 2016. He started his career in the
retail business at Statoil and progressed to being CEO of Statoil
Hydro Sweden AB. He spent 15 years at Statoil. Following the period
at Statoil, Mr Kirstein held the position as CEO of Niscayah Group
AB, a market leader in the technical security services and at that
time listed on Nasdaq Stockholm. Under his leadership the company
underwent a major transformation programme resulting in a significant
profitability improvement. Prior to joining Eltel's board, Håkan had
an interim assignment as CEO of Imtech Nordic AB, a leading
installation company in electrical engineering, heating and
sanitation and HVAC technology.

Eltel's chairman of the Board of Directors Gérard Mohr comments:

"Håkan Kirstein has a solid track record in the management of service
business with high customer oriented focus and proven leadership
skills in decentralised and multi-site companies, which fits well
with The Eltel Way. He is also experienced in operations where
excellence in project management is key. In addition, the Board was
impressed by his strategic strength during his involvement in Eltel's
strategy review process in the first half of this year. I am
confident that Håkan has excellent prerequisites to be successful in
leading the future development of Eltel."

Håkan Kirstein comments: "I am honoured to have been appointed the CEO
of Eltel. It is a privilege to be part of a company fiercely
committed to delivering high quality service and solutions to our
customers. I genuinely look forward to become part of the Eltel
team".

As of 19 September Mr Kirstein will leave his position as member of
the Board of Eltel and Mr Kirstein's board position will currently
not be replaced by a new member.

Eltel's Board of Directors and Axel Hjärne have agreed that Axel
Hjärne will stay on in his position as CEO until 18 September 2016.

"Under Axel Hjärne's outstanding leadership, and thanks to his vision
and his shaping of "The Eltel Way", Eltel has grown to rank among the
European leaders in the Infranet industry. On behalf of the whole
Board, I thank Axel for his great contribution", says Gérard Mohr.

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, at 12.00 CET on August 26, 2016.

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/hakan-kirstein-appointed-as-eltel-s-new-c...
http://mb.cision.com/Main/11435/2065985/553935.pdf

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