Skanska strengthens Senior Executive Team (SE)

Skanska is intensifying its focus on improved profitability and growth in its core operations. As a step in this effort, the Senior Executive Team is being strengthened and several senior executives are being assigned new duties in the Group.

Petter Eiken, currently President of Skanska Norway, will become an Executive Vice President and new member of Skanska´s Senior Executive Team. He will assume responsibility for the construction operations in the Nordic region from Johan Karlström.

Johan Karlström, currently Executive Vice President responsible for the business units in the Nordic region, will be assigned responsibility within the Senior Executive Team for the American operations within Skanska USA Building and Skanska USA Civil. These units currently report to Stuart Graham, Skanska´s President and CEO. Johan Karlström will also continue to be responsible within the Senior Executive Team for the operations in the Czech Republic and Russia.

'Part of our management development is to provide our senior executives the possibility to gain experience of various parts of the Group,' says Skanska´s President and CEO Stuart Graham. 'Johan Karlström has been highly successful in improving profitability in our Nordic operations and he is well qualified to assume responsibility for development in the US.'

'Petter Eiken will contribute valuable expertise and experience to Senior Executive Team,' continues Stuart Graham. 'He has succeeded in turning the Norwegian operations back to profitability and is the right person for continuing to develop the Nordic operations.'

The new President for Skanska Norway will be Geir M Aarstad, who has worked in the Norwegian company since 1991. Most recently he served as regional manager.

In Finland, Juha Hetemäki will take over management of Skanska Oy when the current President, Mauri Niemi, retires at year-end. Juha Hetemäki has worked within the Finnish company for 10 years, most recently as Senior Vice President, responsible for the Building Construction business stream.

All of the aforementioned changes become effective on January 1, 2005.

After the changes, Skanska´s Senior Executive Team will comprise seven members: Stuart Graham, President and CEO; Hans Biörck, Executive Vice President and CFO; Thomas Alm, Executive Vice President, responsible for Skanska UK, Skanska Latin America, Skanska BOT and Skanska International; Johan Bergman, Executive Vice President responsible for Poland and project development of commercial premises and residential buildings; Petter Eiken, Executive Vice President, responsible for the Nordic construction operations; Johan Karlström, Executive Vice President, responsible for construction operations in the US, Czech Republic and Russia, and Tor Krusell, Senior Vice President Human Resources.

Source: Skanska

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