SODERTALJE, Sweden, April 8, 2002 (PRIMEZONE) -- In preparation for the election of the Board at the Annual General Meeting of Scania AB (publ) (NYSE:SCVA) on Tuesday May 7, 2002, shareholders together representing more than 50 percent of the voting power of all shares in the company have today announced that they will propose that Bernd Pischetsrieder shall be elected as new Director. Peggy Bruzelius, Clas Ake Hedstrom, Cees van Lede, Ferdinand Piech, Lothar Sander, Rolf Stomberg, Marcus Wallenberg and Leif Ostling are proposed to be re-elected as Directors. Detlef Wittig will resign.
Background, proposed new member of the Board
Dr Bernd Pischetsrieder was born in 1948. Since 2000, he has been Chairman of the Board of Management (Chief Executive Officer) of SEAT, S.A. in Spain. Since 2000, he has also been responsible for 'Group Quality Assurance' at Volkswagen .
The Supervisory Board of Volkswagen AG appointed Dr. Pischetsrieder Chairman of the Board of Management, Volkswagen AG, and Chairman of the Board of Management of the Volkswagen Brand with effect from 17 April, 2002.
Between 1973 and 1999, Dr. Pischetsrieder held various leading positions in BMW, the last six years as Chairman of the Board of Management at BMW AG.
Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. With 28,300 employees and production facilities in Europe and Latin America, Scania is one of the most profitable companies in its sector. In 2001, turnover totaled SEK 53,000 million and the result after financial items was SEK 1,500 million. Scania products are marketed in about 100 countries worldwide and some 95 percent of Scania's vehicles are sold outside Sweden.
Scania press releases are available on the Internet, www.scania.com
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