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Peter Aru New President and CEO of Cardo

21.04.2005

Kjell Svensson is leaving his post as president and CEO of Cardo and at the same time vacating his seat on the board of Cardo AB.

Peter Aru has been appointed as the new president and CEO and will take up his duties immediately.

Peter Aru, who is 48 years old and holds a degree in engineering, has been head of the Pump field within Cardo Pump since January 2004. Before that he was president of Besam, which operates in the field of automatic door systems. From 1993-1997, he was marketing manager in Cardo's business area Cardo Door.

"Peter Aru is an excellent person with the right experience to lead Cardo in the time ahead. The board is looking forward to a great working relationship with him," says the chairman of Cardo's board Fredrik Lundberg.

"At the same time, I want to emphasize that the media speculation concerning a break-up of Cardo is without foundation. There are no such plans. The intention is to keep Cardo together as an industrial group and to develop and expand the business," says Fredrik Lundberg.

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