ÅAC Microtec appoints new CEO

Alfonso Barreiro brings to ÅAC extensive experience and a wide network of contacts in the space sector. Alfonso has previously been responsible for strategic alliances in the space industry, launching satellite programs, service offerings and development of complex satellite systems propositions.

In his last appointment, Alfonso had held the role of "VP Business Development for Earth Observation" at the satellite operator and data provider UrtheCast, where he was responsible for cooperation with leading European space primes, such as Airbus, Thales-Alenia, Leonardo and SSTL. Preceding his most recent position, Alfonso was responsible for strategic development within the Elecnor Deimos Group. His professional career includes appointments at the European Space Agency (ESA) and the telecom division of SAINCO. Alfonso holds a bachelor's degree in space technology from Northrop University in California and a master's degree in space engineering from the Cranfield Institute of Technology in the United Kingdom.

- It's been a long search process for our new CEO, targeting candidates with extensive experience from different areas of the space sector and a successful track record in technology and business development. Alfonso brings a commercial outlook with more than 20 years' experience in the private sector and matches the requirement of finding an individual with a strong international experience. Having lived in seven countries and having conducted business in more than 30 nations, including international organizations and institutions, such as, the EU, NATO and the UN, he constitutes a unique asset for ÅAC. Today we are very pleased to welcome Alfonso to ÅAC Microtec, concludes Rolf Hallencreutz, Chairman of the Board.

- ÅAC Microtec has excellent potential for growth and it is well on its way to reach very ambitious goals as a leading commercial product company. A most interesting prospect for the team and me, says Alfonso Barreiro

Alfonso will move to Sweden and commence his work with ÅAC Microtec no later than October 16, 2017.

2017-08-23

FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com or contact:

Acting CEO and CFO Mats Thideman, [email protected], +46 70 556 09 73
Chairman of the board Rolf Hallencreutz, [email protected] , +46 70 964 21 60

The information in this press release is such that ÅAC Microtec AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 08:15 CET on 23 August, 2017.

The following documents can be retrieved from beQuoted
AAC Microtec Pressrelease 2017-08-23 English.pdf

ABOUT ÅAC MICROTEC
ÅAC Microtec is a supplier of spacecraft avionics, such as onboard computers, mass memory storage and power management units. ÅAC's technical competence includes the advanced and robust, fault-tolerant microelectronics for critical space applications. The company also markets complete satellites (weight <150 kg) in collaboration with other specialized suppliers.

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