President of Sandvik Mining and Rock Technology to leave Sandvik
January 23, 2019
Sandvik has announced that Lars Engström, President of Sandvik Mining and Rock Technology, is set to leave the company during 2019 following the appointment of a successor. Engström has been a member of Sandvik Group’s Executive Management since 2016 and headed up the Business Area Sandvik Mining and Rock Technology.
During Engström’s leadership, Sandvik Mining and Rock Technology’s has grown from around 30 to 44 billion SEK in revenues and the operating margin has improved from 10% in the beginning of 2016 to 19% in the fourth quarter 2018.
“I’m very grateful for Lars Engström’s contributions to the Group. He has built a successful decentralised organisation and significantly strengthened the results of Sandvik Mining and Rock Technology’s divisions. However, we have now together reached the conclusion that it’s time for a new leadership. We have a lot of good talent in Sandvik so I feel confident that we will have several interested and motivated candidates for the job. At the same time, I’m pleased that Lars will stay onboard to ensure a successful transition before leaving,” stated Björn Rosengren, Sandvik’s President and CEO.
The recruitment process for a new President of Sandvik Mining and Rock Technology is underway and the appointment of the new President will be announced as soon as it is finalised.