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Proposals from the Nomination Committee of SAS AB to the 2008 Annual General Meeting – new Board Chairman and new Board member.

February 11, 2008 09:00

The Nomination Committee of SAS AB will propose to the Annual General Meeting on April 9, 2008 that Consul-General Fritz H. Schur be elected Chairman of the Board of Directors of SAS AB. He is proposed as the replacement for the current Chairman Egil Myklebust who has expressed a desire to step down from his Board assignment. The Nomination Committee also proposes that Dag Mejdell, CEO of Posten Norge AS, be elected as a new Board member.SAS Board Chairman Egil Myklebust informed the Nomination Committee in autumn 2006 that he intended to step down from his position as Chairman of the Board of SAS AB. Due to the appointment of the new President and CEO Mats Jansson, he accepted the Nomination Committee’s request to retain his assignment until the Annual General Meeting to be held in spring 2008.

Egil Myklebust informed the Nomination Committee in autumn 2007 that he was adhering to his intention to step down from his position.

The Chairman of the Nomination Committee, Björn Mikkelsen, said in a comment: “Egil Myklebust has made an immense contribution to the SAS Group, and took on the role of Chairman in 2001 when the situation of the company was critical. It is regrettable that he now wishes to step down.”

A unanimous Nomination Committee, assisted by an external recruitment company and after considering candidates from among the current Board members and potential external candidates, has decided to propose to the Annual General Meeting that Consul-General Fritz H. Schur be elected as the new Chairman of the Board of Directors of SAS AB. Fritz H. Schur has been a member of the Board of SAS AB since 2001.

The Nomination Committee will propose that CEO Dag Mejdell, Posten Norge AS, be elected as a new member of the Board. It is proposed that all other Board members be reelected.

“Fritz Schur is recognized as a highly competent business executive. He has extensive experience from serving as the chairman of the board of large companies. In addition, he is extremely familiar with SAS’s operations and the challenges faced by the company. Dag Mejdell has a background in industry with an international perspective. He also possesses considerable financial experience. Based on the proposals that the Nomination Committee is to present to the Annual General Meeting, the company will have a well composed Board of Directors,” says Björn Mikkelsen, Chairman of the Nomination Committee.

Including these changes, the Nomination Committee will present to the Annual General Meeting on April 9, 2008 the following proposal concerning the composition of a new Board of SAS AB:

Fritz H. Schur, Chairman
Jacob Wallenberg
Anitra Steen
Berit Kjøll
Jens Erik Christensen
Timo Peltola
Dag Mejdell

The Nomination Committee of SAS AB comprises six representatives of a number of the company’s largest owners, who jointly own more than 60 percent of the company’s shares. The Committee is comprised of the following members:

Björn Mikkelsen, Chairman (Swedish government)
Conny Karlsson (SEB Funds, Sweden)
Peter Brixen (Danish government)
Henrik Normann (Danske Bank)
Morten Kallevig (Norwegian government)
Peter Wallenberg Jr (Knut and Alice Wallenberg’s foundation, Sweden)

Fritz H. Schur, 56, is a Danish citizen and represents the fifth generation of owners of the Fritz Schur Gruppen, which was founded in 1846 and conducts operations in consumer products, technical components, control systems and real estate. He is also one of the most experienced board chairmen in Denmark and, over the years, has held a large number of assignments as a board member and board chairman. He is currently the Board Chairman of Post Danmark A/S, DONG Energy A/S and F. Uhrenholt Holding A/S, among other companies.

Dag Mejdell, 50, is a Norwegian citizen and has been the CEO of Posten Norge AS since 2006. His previous assignments include CEO of Dyno Industrier and Dyno Nobel. He is a member of the Board of Industri Kapital’s Industrial Advisory Board and of the Spekter employer’s association.

SAS Group Corporate CommunicationsSAS Group
Corporate Communications
SE-195 87 Stockholm, Sweden
Telephone: +46-8-797 0000
Fax: +46-8-797 1515
www.sasgroup.net

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