TDC Names New CEO

TDC president and CEO Henning Dyremose becomes chairman; will be succeeded by former Swisscom CEO Jens Alder

June 22, 2006

2 Min Read

COPENHAGEN -- President and CEO of TDC, Henning Dyremose, has accepted an offer to become Chairman of the Board of TDC. Jens Alder, who left as President and CEO of Swisscom at the end of January, is expected to become new President and CEO of TDC. SEVP and CFO, Hans Munk Nielsen, will continue on the Executive Committee of TDC.

Jens Alder is expected to take on his new position as of November 1, 2006 when he will no longer have any contractual obligations vis-a-vis Swisscom. The company expects to conclude a final agreement to that effect in the near future. Henning Dyremose is expected to be elected new Chairman in connection with TDC's Annual General Meeting in March 2007. Henning Dyremose will continue as President and CEO until Jens Alder takes over. After that Henning Dyremose will as a non-executive director of TDC be at the company's disposal as advisor for Jens Alder until the Annual General Meeting.

President and CEO Henning Dyremose will receive a retirement bonus in accordance with his current contract as stated in TDC's Annual Report 2005 and as further described in the company's stock exchange release dated November 30, 2005. Henning Dyremose will in addition receive a special bonus of between MDKK 7.5 and 15, depending on the company's financial performance in 2006.

In accordance with his current contract, SEVP and CFO Hans Munk Nielsen will receive MDKK 11.4 as a consequence of the change of control in the company. Furthermore, SEVP and CFO Hans Munk Nielsen has been granted a Stay-On bonus of up to MDKK 13.3 payable no later than July 1, 2008. The company has in addition granted SEVP and CFO Hans Munk Nielsen a bonus of up to MDKK 4.3, depending on the company's financial performance in 2006.

NTC plans to implement an incentive program for top managers in TDC which will also include President and CEO Henning Dyremose as well as SEVP and CFO Hans Munk Nielsen.

TDC A/S (Copenhagen: TDC)

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