President and CEO of Transcom, Pablo Sánchez-Lozano, has resigned and will step down over coming year

Luxembourg, 21 June 2011 - Transcom announced today that the company’s President and CEO, Pablo Sánchez-Lozano, has resigned. The Board of Directors has asked Mr. Sánchez-Lozano to continue on in his role as CEO until a new CEO has been selected.  This will ensure an orderly transition of leadership over the coming year.  Mr. Sánchez-Lozano has accepted the Board's request. A search for a new CEO will begin immediately. 

“We want to thank Mr. Sánchez-Lozano for his leadership of Transcom over the past two years and are pleased that he will stay during the coming months to ensure a smooth transition,” commented William M. Walker, Chairman of the Board of Transcom.  “Mr. Sánchez-Lozano launched the transformation journey the company is currently executing upon to make Transcom a market leader. We are confident that we will manage a smooth leadership transition over the coming months.”

# # #

For further information, please contact:

Pablo Sánchez–Lozano, President and CEO               +352 27 755 000

Aïssa Azzouzi, CFO                                                          +352 27 755 021

Stefan Pettersson, Head of Investor Relations              +46 70 776 80 88