Sandvik names new president
Sandvik announced that president and CEO Olof Faxander has left his current position. No reason was given for his departure.
Björn Rosengren, currently president and CEO of Wärtsilä Corporation, will succeed Faxander on Nov. 1.
Faxander had been 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.”
The 56-year-old Rosengren has been president and CEO of Wärtsilä Corporation since September 2011. Prior to that he held several management positions at Atlas Copco. In addition he served industrial companies including Nordhydraulic, Nordwin AB, and ESAB Group.
“I know Björn Rosengren as an exceptionally experienced and successful industrial leader. He has the experience needed to develop Sandvik into the future,” said Molin.
“I look forward to joining Sandvik, a well-recognized industrial company with great potential,” said Rosengren.
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.
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