A&R Carton CEO Per Lundeen to retire, asks parent company AR Packaging to initiate search for new CEO; transition expected to occur during spring 2012

Kendall Sinclair

Kendall Sinclair

Dec 9, 2011 – A&R Carton

MALMO, Sweden , December 9, 2011 (press release) – Per Lundeen has asked the Board of Directors of the AR Packaging Group, to initiate the search for a new CEO after twelve years as CEO of A&R Carton. Per Lundeen will continue as CEO until a successor is in place, which is expected to be during the spring of 2012. He will then be appointed member of the Board of Directors.

- I have experienced twenty exciting and positive years in the company, of which the last twelve as CEO. The time to hand over the operational responsibility is carefully selected; after the recent merger of A&R Carton and Flextrus. In the future I intend to spend more time on board memberships, consultancy, and my own business, says Per Lundeen.

- My feelings for AR Packaging Group, its employees and customers are very strong and I will be actively involved in the search for my successor. The new CEO must be given the opportunity to put his or her personal stamp on the job. I will be able to give advice and help with specific projects from my position in the Board of Directors.

Stig Gustavsson, Chairman of AR Packaging Group, comments on the change of CEO: - Per Lundeen has successfully led AR Carton and AR Packaging Group during a period of strong growth and important restructuring. During this time the company has developed into one of the leading packaging companies in Europe. We are pleased that Per has agreed to be a member of the Board of Directors. There is now a solid foundation for a new CEO to further develop the company.

Jan Ohlsson, Vice Chairman of the AR Packaging Group and Founding Partner at Accent Equity Partners AB: - Per Lundeen has a large industrial network and industry knowledge, which we are happy to continue to have access to through the Board of Directors. From our point of view, we also hope to benefit from Per's broad expertise in other investments.

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