Sandvik announces a new member of the Board of SMT - the new company planned to be listed in 2022
Sandvik announced plans to formally propose the distribution and listing of its business area, Sandvik Materials Technology (SMT), at a shareholder meeting, aiming for a Nasdaq Stockholm Exchange listing in Q2 or Q3 2022, pending approval. Andreas Nordbrandt was appointed Chairman, with Claes Boustedt and Karl Åberg as board members. Additionally, Kerstin Konradsson has been appointed to SMT's Board, bringing extensive experience from the metals industry. More board members will be appointed later to ensure a diverse composition.
- Proposed listing of Sandvik Materials Technology on Nasdaq Stockholm could enhance shareholder value.
- Appointment of experienced board members, including Kerstin Konradsson, strengthens governance.
- None.
SANDVIKEN, Sweden, Jan. 28, 2022 /PRNewswire/ -- As previously communicated, the Sandvik Board intends to formally propose the distribution and listing of its business area Sandvik Materials Technology (SMT) at a shareholders' meeting, with the target to complete the listing in the second or third quarter of 2022, subject to shareholder approval. The listing is planned to be made at the Nasdaq Stockholm Exchange.
On November 9, 2021, it was announced that Andreas Nordbrandt had been appointed Chairman of the Board of SMT, and that Claes Boustedt and Karl Åberg had been appointed board members.
As part of this process, the Sandvik Board of Directors has now in addition appointed Kerstin Konradsson as a new member of the SMT Board.
Kerstin Konradsson, born 1967, holds a M.Sc in Metallurgy from the KTH Royal Institute of Technology in Stockholm. She has significant experience from the metals industry, with her previous roles including President of Boliden Smelters at Boliden, President of Cast Rolls Europe & Asia at Åkers, and Vice President of Metallurgy at SSAB Oxelösund. She has also been a board member at Swedish metal powders company Höganäs, and is currently a board member at the Belgian industrial minerals group Sibelco.
Additional members of the SMT Board will be appointed at a later stage to fulfil any requirements and ensure a suitable board composition.
Stockholm, January 28, 2022
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Sandvik announces a new member of the Board of SMT â€" the new company planned to be listed in 2022 |
View original content:https://www.prnewswire.com/news-releases/sandvik-announces-a-new-member-of-the-board-of-smt--the-new-company-planned-to-be-listed-in-2022-301470608.html
SOURCE Sandvik
FAQ
What is the proposed listing timeline for Sandvik Materials Technology (SDVKY)?
Who are the appointed board members for Sandvik Materials Technology (SDVKY)?
What is the significance of the listing of Sandvik Materials Technology (SDVKY)?
