AAK Announces Management Changes

MALMÖ, SwedenAAK, a leading manufacturer of high value-added specialty vegetable fats, announced new management changes for AAK and AAK USA.

Peter Korsholm has been appointed CFO of AAK and member of the AAK Executive Committee effective June 1, 2012.  He was with EQT Partners A/S from 1999 to 2011, as Partner since 2006 and responsible for EQT in Denmark since 2008. From 1996-98 he worked for Morgan Stanley in London.

Peter comes with significant financial and international experience and in addition he brings the private equity toolbox of value creation focus and urgency. I believe he will complement the AAK management team very well, and we expect Peter with his competencies, experiences and drive to be contributing significantly in taking AAK to the next levels. With this change the CFO role is hence broadened. We are very happy to see Peter joining our team", says Arne Frank, CEO.

Hal Grant has been appointed as interim president of AAK USA and member of the AAK Executive Committee effective May 29, 2012. Grant was with Schneider Electric from 1990 to 2011.The last several years he served as executive vice president for the Global Supply Chain, based in Paris and later in Shanghai.