Sandvik appoints Susanne Pahlén Åklundh as a new member of the Board of SMT

Rhea-AI Summary

On March 9, 2022, Sandvik announced the appointment of Susanne Pahlén Åklundh as a new member of the Board for its business area Sandvik Materials Technology (SMT). This appointment completes the SMT Board of Directors, which includes experienced members from diverse sectors. The company plans to propose the distribution and listing of SMT at the Nasdaq Stockholm Exchange, subject to shareholder approval, targeting completion by Q2 or Q3 of 2022. These moves are part of Sandvik's strategic reorganization to enhance governance as it prepares for the upcoming listing.

Positive

• Appointment of Susanne Pahlén Åklundh, bringing extensive operational experience.
• Strengthened SMT Board with diverse expertise.

Negative

• No financial metrics or projections provided regarding the listing impact.
• Potential uncertainty surrounding shareholder approval for SMT listing.

SANDVIKEN, Sweden, March 9, 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. On January 28, 2022, it was announced that Kerstin Konradsson had been appointed board member.

Since before, SMT Business Area President Göran Björkman is also a member of the board. 

As part of this process, Sandvik has now in addition appointed Susanne Pahlén Åklundh as a new member of the SMT Board.

Susanne Pahlén Åklundh, born 1960, holds a M.Sc in Chemical Engineering from Lund University. She has extensive international, operational and commercial experience from a long career at Alfa Laval, where she most recently was President of the Energy division and member of the Group Management.  She is currently a board member at Assa Abloy and Chair of the Board at Alfdex. She has previously been a board member at Trelleborg and Nederman.

With the appointment of Susanne Pahlén Åklundh the SMT Board of Directors is now complete.

Stockholm, March 9, 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.

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Sandvik appoints Susanne Pahlén Åklundh as a new member of the Board of SMT

 

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SOURCE Sandvik

FAQ

What are the implications of Susanne Pahlén Åklundh's appointment for SDVKY?

Susanne Pahlén Åklundh's appointment is expected to enhance the strategic direction of SDVKY's SMT business, leveraging her extensive industry experience.

When is Sandvik planning to list Sandvik Materials Technology?

Sandvik aims to complete the listing of Sandvik Materials Technology at the Nasdaq Stockholm Exchange by the second or third quarter of 2022, pending shareholder approval.

Who are the other members of the SMT Board appointed by Sandvik?

Other board members include Andreas Nordbrandt (Chairman), Claes Boustedt, Karl Åberg, and Göran Björkman (Business Area President).

What is the significance of the SMT Board's completion for Sandvik?

The completion of the SMT Board is crucial for effective governance and strategic oversight as Sandvik moves towards the proposed listing.