Sandvik has announced that Björn Rosengren will succeed Olof Faxander as President and CEO of the company on November 1, 2015. Faxander, who left the company on August 10, 2015, was appointed President and CEO of Sandvik in 2011.
“He [Faxander] has managed Sandvik through very challenging market conditions and made creditable contributions in the restructuring of Sandvik to a more efficient organisation,” stated 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.”
Björn Rosengren is currently the President and CEO of Wärtsilä Corporation. Prior to that he held several management positions at Atlas Copco, and has a strong background in other industrial companies such as 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,” added Molin.
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.