Hans Dalborg to retire as Chairman at Nordea’s AGM 2011

21-12-10 12:38 | Press release

Today, the chairman of Nordea's Board of Directors has informed the bank's nomination committee that he will not be up for re-election at the Annual General Meeting in 2011. The Board was simultaneously informed of Hans Dalborg's decision.

Hans Dalborg was appointed President and CEO of Nordbanken in 1991. After the reconstruction of Nordbanken he played a leading role as CEO in the years around the new millennium in implementing the Nordic merger between Nordbanken in Sweden, Merita Bank in Finland, Unibank in Denmark and Christiania Bank og Kreditkasse in Norway, which created today's Nordea.

Following the merger, Hans Dalborg was deputy chairman of the Board of Directors for one year and in 2002 he was elected chairman of Nordea. During his chairmanship the four banks have become wholly integrated and Nordea has expanded profitably in Poland, the Baltic countries and Russia. Nordea is the leading bank in the Nordic countries and has remained strong throughout the most recent financial crisis with stable results and a strong balance sheet. Today Nordea is one of the largest banks in Europe.

Hans Dalborg comments as follows:

- It is the right time for me and my family and a suitable time for the bank that I pass on the chairmanship at the Annual General Meeting in 2011. I took over as CEO for a Swedish bank in a very critical situation in the middle of a bank crisis. I will resign as chairman of a leading European bank with a strong financial position and a clear strategy. The bank's prospects are good with strong customer relations, dedicated employees and competent management and Board of Directors.

- Now I will get more time for my family - my wife, children and grandchildren - and for my interests, first and foremost cultural activities, travel and the outdoors while I am in good vigour. Next year I will be 70 and will complete several other tasks that are also time-consuming.

For further information:
Hans Dalborg, chairman of the Board of Directors, is available for comments through
Helena Östman, head of Communications in Sweden, +46 70-2004050