Saab president retires

Saab Automobile has announced that Jan Åke Jonsson has decided to retire from his position as president and ceo of Saab Automobile AB ("Saab Automobile") effective per Spyker Cars N.V.’s Annual General Shareholders meeting to be held on 19 May, 2011.

A search for a successor to Jan Åke Jonsson has been initiated and he has agreed to assist Saab Automobile’s Management with a smooth transition to his successor. He will remain available as such until 1 September, 2011. Until a successor to Jan Åke Jonsson is appointed, Victor Muller will temporarily assume the role of president and ceo of Saab Automobile AB in addition to his role as chairman of the Board.

Jan Åke Jonsson says: “I have been with Saab Automobile for almost my entire career of 40 years, of which almost six years as the head of Saab Automobile. The last three years have of course been very demanding and forced me to focus on one thing only – my work. Now it is time for me to also spend some time on other things that had to stand back for my duties to Saab Automobile.

“We have already accomplished so many things that many thought were impossible and I am convinced that Saab Automobile is on the right track towards replacing the entire product portfolio by October 2012 - when the next generation 9-3 will be launched - as well as creating a stand-alone company with a financially sound business model.”

Victor Muller, chief executive officer of Spyker Cars N.V. and chairman of Saab Automobile says: “Jan Åke has not only been instrumental in Saab Automobile’s survival but also in the transition of Saab into an independent car company. I am really sad to see him leave, but understand and respect his rationale. He has had one of the toughest jobs in Sweden in recent years and I am grateful that he has transferred his knowledge and experience to the Managements of Saab Automobile and Spyker Cars N.V. Jan Åke has led the efforts to create a platform from which Saab will become a strong and independent Swedish car manufacturer."

Hans Hugenholtz, chairman of Spyker Cars N.V.'s Supervisory Board, says: "We owe Jan Ake so much for his relentless efforts to overcome the adversities Saab Automobile encountered in 2008-2010 and has lead his dedicated Management to performances way beyond the call of duty. We wish him well knowing he will finally have some time to dedicate to those close to him."