New CEO at Atel

Giovanni Michele Leonardi, 43, was named as the new CEO of Atel at yesterday’s meeting of the Board of Directors of Aare-Tessin Ltd. for Electricity in Olten. He will take over from Alessandro Sala as of the 2004 Annual General Meeting. Mr Sala has managed the Atel Group since 1999, and is due to take retirement next year as planned. The new CEO is a member of the Executive Board of Atel and currently manages Atel Installationstechnik Ltd. in Zurich.

Aare-Tessin Ltd. for Electricity Corporate Communications