Executive Change: Lars Wollung Named President and CEO of Intrum Justitia

Intrum Justitia announced today that Lars Wollung has been named President and CEO of the company.

Lars Wollung is currently President and CEO of the management and IT consulting company Acando AB and a member of Intrum Justitia’s Board of Directors.

Lars Wollung was elected to Intrum Justitia’s Board of Directors in 2006. Since 2001 he has been President and CEO of the publicly listed management and IT consulting company Acando AB, which he helped to found in 1999. Prior to that, Lars worked for many years as a management consultant specializing in strategic development, including at McKinsey & Co.

“I am very pleased and gratified that Lars has decided to accept the offer as President,” says Lars Lundquist, Chairman of the Board of Intrum Justitia AB. “Intrum Justitia is in a process of strategic transformation that is expected to continue for a number of years. Lars has wholeheartedly contributed to and supported these change efforts. He's the right person to team with the rest of the management group to drive this process to a successful conclusion.”

Lars Wollung will take over as President and CEO as soon as possible, though no later than May 14, 2009. Michael Wolf will step down from the position on November 30, 2008. Monika Elling, Intrum Justitia’s Chief Financial Officer, will serve as Acting President from December 1, 2008 and until Lars Wollung takes over.

Intrum Justitia is Europe's leading Credit Management Services (CMS) group, with revenues of approximately SEK 3.2 billion ($400 million) and 3,600 employees in 24 markets. Intrum Justitia offers services designed to measurably improve clients' cash flows and long-term profitability. Intrum Justitia AB is listed on the Nordic Exchange, Mid Cap list. For further information, please visit www.intrum.com