Björn Rosengren, President and CEO of Sandvik, has informed the Chairman of the Sandvik Board that he intends to resign and leave the company as of February 1, 2020. The Sandvik Board of Directors held a meeting August 12 to initiate the work to appoint a new President and CEO for Sandvik. The Board of ABB has unanimously appointed Rosengren, as Chief Executive Officer. He will join ABB on February 1, 2020 and succeed CEO, Peter Voser, in this role on March 1, 2020. At that time Peter Voser will revert to his position at ABB solely as Chairman of the Board.
Rosengren, a Swedish citizen, is a highly experienced, international executive and leader of industrial businesses. He has been the CEO of Sandvik, a high-tech global engineering group, since 2015. During this time, he has overseen the successful implementation of a decentralised structure and improved both the profitability and financial strength of Sandvik. Prior to that, he was CEO of Wärtsilä Corporation, which manufactures and services power sources and other equipment for the marine and energy markets (2011-2015) and spent some thirteen years (1998-2011) in a variety of management roles at Atlas Copco, a world leading provider of sustainable productivity solutions.
“The Board is pleased that Björn Rosengren will be taking the lead at ABB, bringing with him a proven track record of value creation and exactly the managerial skills ABB needs during the next stage of its transformation,” said ABB Chairman and current CEO, Peter Voser. “After undertaking a thorough search, the Board is convinced that Björn Rosengren is the best candidate for the role. He understands how to establish successful decentralized organisations, empower people and demonstrates the culture of cooperation and high performance. Together with our strong management team, he will drive ABB’s strategy and deliver long-term value to all our stakeholders.”
Rosengren said: “I am honored to have the opportunity to join ABB, a truly global technology leader, after I have completed my current commitments. At such a pivotal time for manufacturing industries, ABB must continue to best serve the needs of global customers with a unique technology and digital solutions portfolio to help enhance their productivity. I look forward to working with my new colleagues around the globe to enhance value through the delivery of the group strategy and fully empowering our businesses and people.”
“Björn Rosengren has, since he joined Sandvik in November 2015, established a solid decentralised business model for the company and made the organisation more flexible and efficient. The Board is very grateful for his and all the employees’ work during these years. We will initiate the process to assign a very experienced and competent industrial leader that can succeed Björn in the role as President and CEO and continue to develop the company even further”, says Johan Molin, Chairman of the Board for Sandvik.
“This has not been an easy decision. Sandvik is a great company with a lot of future potential and I will continue to lead the organisation with a strong commitment until end of January”, said Rosengren.