Marjorie Lao proposed to be elected to the Board of MTG

April 16 2020

STOCKHOLM, April 16th 2020 05.44pm CEST — Modern Times Group MTG AB (publ) (“MTG”) today announces that its Nomination Committee proposes the election of Marjorie Lao to MTG’s Board of Directors at the Annual General Meeting in in May 2020. The Committee further proposes the re-election of all current Board members except Donata Hopfen, who has declined re-election, and the re-election of David Chance as Chairman of the Board.

Marjorie Lao was until March 2020 the CFO of the LEGO Group, the Danish toy company with products sold in more than 140 countries worldwide, where she oversaw the company’s global operations with a broad mandate covering the traditional CFO role, as well as Legal, Government and Public Affairs, and Social and Environmental Responsibility. Before joining the LEGO Group in 2014, Marjorie was CFO of Tandberg ASA, a publicly listed company in the Oslo Stock Exchange, before it was acquired by Cisco. She also held senior finance, strategy and business development positions at Cisco, McKinsey, and Procter & Gamble. She currently serves on the Board of Logitech International, one of the world’s leading manufacturers of input and interface devices for personal computers (PCs) and other digital products.

Joachim Spetz, Chairman of the Nomination Committee, commented: “The Nomination Committee is pleased to propose the election of Marjorie Lao as a new Board Director. Marjorie Lao will bring twenty years of international finance leadership experience across the consumer and technology sectors. Marjorie will join the MTG Board’s Audit Committee, and will contribute to the Board’s discussions on investment activities, and be of great support to the team at MTG as it accelerates the global development and expansion of its fast-growing next generation entertainment businesses.”

The Nomination Committee comprises Joachim Spetz, appointed by Swedbank Robur Fonder, Erik Durhan, appointed by Nordea Fonder, David Marcus, appointed by Evermore Global Advisors, LLC and David Chance, the Chairman of the Board. The Nomination Committee’s complete proposals are presented in the notice convening MTG’s Annual General Meeting to be held 18 May 2020.

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