Swedish pension chiefs working with Atlas

SWEDEN – Top executives in the Swedish pension industry are working with industrial group Atlas Copco on putting together a proposed board of directors.

“In accordance with a decision taken at the annual general Meeting of Atlas Copco AB on April 27 2004 this is to announce the names of the representatives of four of the largest shareholders, who together with the chairman of the board, Sune Carlsson, will work out a proposal for a board of directors,” Atlas Copco said in a statement.

The proposal would be submitted to the AGM, which takes place in Stockholm on April 27 2005.

Pension industry executives involved in the project include Björn Andersson, executive vice president of SHB/SPP, Tor Marthin of AMF Pension and William af Sandeberg, head of Första AP-fonden. Marcus Wallenberg of Investor AB is also named.

On September 21 the company held its annual ‘Capital Markets Day’ for around 85 analysts, investors and journalists – aimed at “giving a deeper understanding of the Group's strategy, structure, and ongoing activities”.

“The positive demand trend for Atlas Copco's products and services is expected to continue," said Gunnar Brock, president and chief executive.

The group says it “has a vision to be first in mind-first in choice of customers and other key stakeholders”.

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