Nico Delvaux Appointed New President and CEO of ASSA ABLOY

STOCKHOLM, Dec. 18, 2017 /PRNewswire/ -- The Board of Directors of ASSA ABLOY AB has appointed Nico Delvaux as the new President and CEO of ASSA ABLOY AB, effective June 18, 2018 at the latest. He will replace Johan Molin, who will leave his position after twelve successful years as CEO of ASSA ABLOY.

"With Nico Delvaux, we have found a strong and experienced leader of large global businesses with a strong track record. He has managed complex and decentralized organizations and he has strong focus on innovation," said Lars Renström, Chairman of ASSA ABLOY's Board of Directors. "ASSA ABLOY has made a fantastic journey since the foundation in 1994 and is the true global leader in its industry. I am convinced that Nico successfully will continue to develop the Group."

Nico Delvaux is currently President and CEO of Metso Corporation, Finland. Prior to this position, he has held management positions for more than two decades in the Atlas Copco Group, most recently as President of Atlas Copco's Compressor Technique Business Area.

Nico Delvaux is a Belgian citizen, born in 1966. He has a M.Sc. in Engineering from Free University of Brussels and an MBA from Handelshogeschool, Antwerp, Belgium.

"I would like to thank Johan Molin for the extraordinary development that ASSA ABLOY has had during his years as CEO," said Lars Renström. "During Johan's leadership, ASSA ABLOY has clearly strengthened its customer offering and increased its market share. The Group's global market presence, high innovation rate and good cost control position ASSA ABLOY well for long term profitable growth. I wish Johan all success in his future endeavors."

A conference call regarding the organizational change will be held today at 10.00 (CET) in which ASSA ABLOY's Chairman Lars Renström and the new President and CEO Nico Delvaux will participate.

Dial-in numbers to the conference call: +44-203-364-5371 or +46(0)8-505-564-76.

Listen to the conference call via ASSA ABLOYs website: www.assaabloy.com                           
Dial-in numbers to the replay: +44-203-426-2807 or +46(0)8-566-426-38, access code 693991#.

For more information, please contact:
Lars Renström
Chairman of the Board
Tel. no: +41-217-292-402

Carolina Dybeck Happe
CFO and Executive Vice President
Tel. no: +46-8-506-485-72

About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 47,000 employees, operations in more than 70 countries and sales of SEK 71 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.

This is information that ASSA ABLOY AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 18 December 2017.

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SOURCE ASSA ABLOY