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Kjeld Lucas resigns as Executive Vice President of Egmont

After 35 years in the media business and 25 years at Egmont Kjeld Lucas has decided to stop as Executive Vice President of Egmont Magazines. Kjeld Lucas will leave Egmont during 2010 to make room for a more flexible work life.

Kjeld Lucas (61) started out in the media business in 1975 at the newspaper Information, and from 1977 he became the CEO of this newspaper. In 1985 he began at Egmont Magazines and in 2001 he became Executive Vice President of Egmont Magazines. During his time with Egmont Kjeld Lucas has contributed to developing Egmont Magazines into a business with very attractive earnings and a strong market position, last cemented in the summer of 2008 with the purchase of the remaining shares of the largest magazine business in Norway, Hjemmet Mortensen.

Egmont's CEO, Steffen Kragh says: "Kjeld Lucas has developed Egmont's magazine division in a profitable way and created a number of market leading positions in Norway, Denmark and Sweden. Kjeld Lucas is not only a talented magazine entrepreneur and strategist but also a man of action".

Kjeld Lucas says:"Egmont's magazine division is now, after a challenging year with a declining advertising market, in a strong position. After 25 years in Egmont and more than 30 years as managing director in the media business I find this is the right time to pass on the torch, at the same time giving myself the opportunity of a more flexible life."

The process of finding a replacement has been started. Kjeld Lucas will resign in the beginning of 2010, and he will for a period be available to Egmont.