Marine Jet Power Announces New Executive Leadership

(Uppsala 2016-11-18)
Magnus Sörenson has been appointed new CEO of Marine Jet Power, starting on 1
December 2016. He succeeds former interim CEO Stefan Tingström.

Magnus joined Marine Jet Power in January 2016 as EVP Sales & Marketing. He is Naval
Architect (M.Sc.) and has over 15 years’ experience within shipbuilding, shipping and
defence. His previous experience includes, among other positions, Sales & Marketing
Director at Dockstavarvet (Swedish boatbuilder) and Project Manager Combatant Craft at
the Swedish Defence Material Administration.

“With my background in developing waterjet propelled fast craft, working at Marine Jet
Power is a dream come true” says Magnus. “I am excited about the opportunity to lead
Marine Jet Power into the next phase of our strategic development. We will continue to
strengthen our global footprint, and develop our ability to tailor and adapt our well proven
and state-of-the-art waterjet design for new customers and applications” he continues.

Owned by Verdane Capital, Marine Jet Power is a global leader in waterjet propulsion
providing diverse applications – governmental patrol craft, service vessels for wind farms
and oil industry, passenger vessels and pleasure yachts.

For additional information please contact:
Jan Söderström, Chairman, jan.soderstrom@quintusteam.com, +46 70-593 97 62
Magnus Sörenson, CEO, magnus.sorenson@marinejetpower.com, +46 708-200 221