Metro Chairman Steps Down

Posted Tuesday, October 17, 2006 12:00 am

By: E&P Staff Peter Castenfelt, chairman of Metro International S.A., resigned in late September due to personal reasons.

Dennis Malamatinas was elected to fill the position. He has been a director on the board since 2004 and was the former CEO of Burger King Corp. worldwide and a former director on the board of the Reuters Group.

?It has been rewarding to work with Metro over the past year and a half, first as an advisor to the board than as chairman, and in co-operation with CEO Pelle T?rnberg put in place clear organizational structures and help to engender an operational focus which will assist the company?s goal of solid long term profitability,? said Castenfelt in a statement.

?With much of this work completed and with new obligations outside the area of business that unexpectedly have arisen in my life, I have however reluctantly decided to step down from the board of Metro.?

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Metro Chairman Steps Down

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