Hannu Ryöppönen has expressed an interest to gradually reduce his portfolio of board assignments and he has therefore tendered his resignation to the Boards of Directors of Altor 2003 Fund, Altor Fund II and Altor Fund III, but Hannu will remain as Chairman on the Board of Altor Fund Manager AB, the fund manager of Altor Fund IV. The changes have been accepted by the Directors of the funds.
Hannu has contributed greatly throughout his tenure. He will now be succeeded by Hans Henrik Klouman. We are pleased to see this natural succession with Hans Henrik, as he currently sits on the Board of Altor Fund Manager AB.
Hans Henrik Klouman is currently General Counsel and SVP Legal at Statoil.
We extend our sincerest appreciation to Hannu for his contributions and welcome Hans Henrik to the Boards of Altor 2003 Fund, Altor Fund II and Altor Fund III.
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.6 billion in more than 40 companies. The investments have primarily been made in medium sized companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Rossignol, Byggmax, Dustin, Piab and Transcom. For more information visit www.altor.com.