Sandvik says “the purpose of the new strategy is to achieve worldclass performance in value creation through higher growth and profitability and thereby make Sandvik an even more attractive company for customers, employees and shareholders. The new strategy is focused on increasing profitability, strengthening position in attractive markets and segments and a more active portfolio management. The strategy is based on four cornerstones:

• Ambition to be worldclass in every core area
• Higher speed in every process
• Increased focus in selected core businesses
• Become truly global in mindset and organisation but with strong local adaptations.

“To succeed with the new strategic direction and to increase transparency and operational focus the organisation will be split in five Business Areas instead of three and a stronger platform for utilizing common resources will be developed. The new organisation will be effective 1 January 2012.”

One of those fives Business Areas is Sandvik Mining and Gary Hughes becomes its President. He has been President of Customer Segment Underground Mining within Sandvik Mining and Construction since 2010. He has more than 20 years experience from the global mining industry.

Lars Josefsson, President of Sandvik Mining and Construction and member of the Group Executive Management, will leave Sandvik at the latest on December 31, 2011. He has, the company says, “contributed successfully during eight years to a very positive development both of Sandvik Mining and Construction and of the Sandvik Group.”