SEB’s President and Chief Executive Officer, Lars H Thunell, has been nominated Executive Vice President of the International Finance Corporation (IFC) and member of the Group Management of the World Bank. Accordingly, the transition to SEB’s new President and CEO, Annika Falkengren, will be changed to take effect from 10 November 2005 instead of 1 January 2006.
“Lars H Thunell’s nomination as Executive Vice President of the IFC is a true acknowledgement both for him as a renowned banker and for SEB. The Board of Directors has been willing to make Lars available at an earlier date. Lars will, until his retirement from SEB in August 2006, be available to the SEB Group as Senior Advisor,” says Marcus Wallenberg, Chairman of the Board of Directors. “The Board is delighted with the smooth hand-over process from Lars to Annika Falkengren and looks forward to working with her as CEO.”