The board of directors of SwitchCore AB (publ) has appointed Henric Isacsson as the new CEO of SwitchCore AB, after Per Andersson had expressed his desire to relinquish his position as CEO for personal reasons. Henric Isacsson has been general manager of SwitchCore's office in Lund since the turn of the year and, among other things, he has had a key role in the company's strategic partnership with Intel.

Seperate press release:

The board of SwitchCore AB (publ) has, as said in the semi-annual report, decided to introduce a cost-cutting plan aimed at reducing the company's cost. This will improve the company's prospects of, as stated before, achieving a positive cash flow without resorting to any further capital injection than preciously announced. These cuts have been calculated on the basis of necessity given the current position and considering the uncertain effect the market's downturn can have on sales of the company's products.

According to the cost-cutting plan, the company will reduce its costs by around 20 % based on figures from the semi-annual report 2001. The plan also includes personnel reductions affecting all SwitchCore offices.

SwitchCore AB (Stockholm: SCOR)