New CEO of Kitron assumes role on 10 November

(2014-10-22) Peter Nilsson will assume the role as CEO of Kitron ASA on 10 November 2014.

We refer to the stock market on announcement on 2014-05-05 where it was announced that Peter Nilsson was appointed CEO of Kitron and would take up his new position in November 2014 at the latest.

In line with the announcement of the appointment of Peter Nilsson as new CEO in May, Dag Songedal will continue as interim CEO until Nilsson assumes the role of CEO, and will then continue as managing director of Kitron AS.

The board of Kitron ASA would like to extend its thanks to Songedal for his valuable contribution as interim CEO in this period and is very pleased that he will continue to contribute in his original position.

Peter Nilsson has held several senior and executive leadership positions for Swedish and US companies: PartnerTech, Rimaster, Sanmina, and Ericsson, latest as President, Electronics Technology Division, at PartnerTech AB. Nilsson is trained in industrial business management and production engineering and has a degree in Industrial Management from Gävle University College (Gävle, Sweden).

For further information please contact:

Tuomo Lähdesmäki, Chairman, Tel.: +358-50-5879648.

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.6 billion in 2013 and has about 1,200 employees. www.kitron.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).