Addedo Holding Announces Appointment of New Board Member Tom Löfstedt
2007-06-25 : Zug, Switzerland
Addedo Holding AG is pleased to announce the appointment of Mr. Tom Löfstedt to its Board of Directors. Mr. Löfstedt brings to Addedo extensive experience in serving the Group Finance function for large international corporations, specifically with regards to reporting and consolidation software and processes.
Mr.Löfstedt was the sole founder of Frango in 1987. When Cognos acquired Frango in 2004, Mr Löfstedt had developed Frango thru his position as CEO into a leading software company within its niche. Frango enabled finance and business managers to plan, report, consolidate, monitor and analyse business information – a process generally known as Corporate Performance Management (CPM).
Headquartered in Stockholm, Frango was operating through wholly-owned subsidiaries in seventeen countries throughout Europe, the Far East and the USA. These businesses were complemented by operations in a further ten countries through a network of distributors. Frango’s share was listed on the Stockholm Stock Exchange OMX. More than 1,300 corporate customers and organisations worldwide relied on Frango.
Mr Löfstedt says “Cognos acquisition of Frango has proven to be a success. Frango could complement Cognos CPM suite with its strong solution for reporting and consolidation. Frango brought excellent customer relations with the strategically important Group Finance function.
And many customers where new to Cognos. The majority of these customers had got used to a very close or tight service model. A model that Addedo will adopt. I can see a great demand and potential for this approach in the market.”
Mr. Johannes Westergården, MD of Addedo Holding, continues, “Mr. Löfstedt believed that a key to the success of Frango, was the teamwork of great, highly motivated employees. This insight and experience will spill over and benefit Addedo.”
For more details on Cognos acquisition of Frango read www.cognos.com/news/releases/2004/1004.html
For further information please contact:
Johannes Westergården, MD Addedo Holding,
johannes.westergarden@addedo.com
+46 4o 450546 (office)
+46 70 3217733 (mobile)
Everybody here at ÅF has been super happy with Addedo and specifically you Cecilia – your competence, your commitment and your social talent. If it were not for you keeping everything together, we would definitely not have made it. You are on top of the list for our future needs. Johan, thank you for lending us a SUPER PROJECT MANAGER.
-Kerstin Salmen, Financial Controller, ÅF