The Board of Directors is of the opinion that a new leadership is necessary considering the Company’s current situation and in order to successfully develop the Company.

Ekengren has been employed by the Company since 2018 when he assumed the role of COO.

Ekengren has about 30 years of work experience from operations and electronics and has e.g. a sourcing background from Ericsson, Sony Ericsson and Sony Mobile.

”I look forward to take on the position as CEO for InCoax Networks AB with a strong commitment to the Board of Directors and shareholders to succeed on the task. InCoax operates on a huge market and I see a clear possibility to grasp a fair market share by focusing our efforts on selected segments and at the same time implementing necessary strict cost control”, says Jörgen Ekengren.

Peter Carlsson has a notice period of six months and is thereafter entitled to severance pay during six months.

This information is such information as InCoax Networks AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 12.55 CET on March 17, 2020.