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AstraZeneca’s pension chief to leave

SWEDEN – Michael Runnakko, director of international benefits for drugs firm AstraZeneca, will be leaving to join paper products company Svenska Cellulosa Aktiebolaget.

Runnakko is presently responsible for co-ordinating AstraZeneca’s pension fund and the financing of the fund, valued at four billion pounds (5.8 billion euros). His role will be subject to reorganisation within the group.

Runnakko will join Svenska Cellulosa at the beginning of June as vice president of international benefits and executive programmes. Runnakko will be based in Stockholm and will report to Karin Eliasson, executive vice president of Human Resources.

In his new role Runnakko will co-ordinate the compensations and benefits throughout his new firm. As of the end of 2002, the Svenska Cellulosa pension funds had over one billion euros in assets worldwide.

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