The Board of Sandvik and Olof Faxander, president and CEO, have agreed that as of August 10, Olof Faxander has left his current position and the company. Björn Rosengren will succeed Olof Faxander as of November 1, 2015.
Faxander has been the president and CEO of Sandvik since 2011.
“He has managed Sandvik through very challenging market conditions and made creditable contributions in the restructuring of Sandvik to a more efficient organization,” said Johan Molin, chairman of Sandvik. “The change of President and CEO was initiated by the Board and should be viewed as a next step in Sandvik’s further development.”
At 56 years old, Björn Rosengren is currently the president and CEO of Wärtsilä Corporation and has been in that position since September 2011. Prior to that, he held several management positions at Atlas Copco for approximately 13 years. He also has a strong background from other industrial companies (Nordhydraulic, Nordwin AB, and ESAB Group).
“I know Björn Rosengren as an exceptionally experienced and successful industrial leader,” Molin said. “He has the experience needed to develop Sandvik into the future.”
“I look forward to joining Sandvik, a well-recognized industrial company with great potential,” Rosengren said.
Mats Backman, executive vice president and CFO, will be acting president and CEO in the interim period until Rosengren starts his new position at Sandvik.
For more information: www.sandvik.com