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Skanska global chief announced

Skanska's Swedish parent company has appointed Johan Karlström as its new president and chief executive officer.

Mr Karlström will succeed Stuart Graham as head of Skanska AB. Mr Graham announced his intention to step down last December after five years in the post.

Sverker Martin-Löf, chairman of the board of directors at Skanska AB, said: “Skanska’s profitability and financial performance has improved significantly under Stuart Graham’s leadership and today Skanska stands stronger than ever.

"The Board has looked for a successor with equally strong characteristics - a very solid performance record, a genuine personal value base and great leadership skills. Johan Karlström fills all of these requirements and also has extensive experience of Skanska and the industry,” said

Mr Karlström began a first spell at Skanska in 1983, working his way up from site manager to regional manager for the Northern Region in Skanska Sweden.

After five years as President and CEO for M&E group BPA he returned to Skanska in 2001 as Executive Vice President and member of the Senior Executive Team.

In this position he has been responsible for Skanska’s business units in the Nordic countries and since 2004 the firm's construction businesses in the Unites States.

He will assume his duties on April 3, in conjunction with Skanska’s Annual Shareholders’ Meeting 2008. He will be based at the Skanska Group Headquarters in Stockholm, Sweden.