Changes in Group Management to accelerate strategic transformation and profitable growth

Rhea-AI Summary

SKF announces changes in group management to accelerate strategic transformation and profitable growth. Manish Bhatnagar is appointed as the new President, Industrial Region Americas, while Fredrik Hallen will take interim charge as President for the ISEA region. John Schmidt, the current President, Industrial Region Americas, will leave SKF. The company aims to find new opportunities and increase competitiveness.

GOTHENBURG, Sweden, Feb. 6, 2024 /PRNewswire/ -- As a consequence of SKF accelerating its strategic transformation to drive profitable growth, the leadership in two of the industrial regions, Americas and India and Southeast Asia, will change with immediate effect.

"In times of transformation, adding new perspectives is sometimes necessary. Americas and ISEA have accomplished a lot, but with new leadership in both regions, we aim to find new opportunities and to become even more competitive and increase speed in our journey," says Rickard Gustafson, President and CEO.

Manish Bhatnagar, the current President, Industrial Region India and Southeast Asia (ISEA) is appointed the new President, Industrial Region Americas. Manish will be located in Landsdale, USA, and begin his new position as of today.

As a consequence, Fredrik Hallen, Director Finance, Controlling, IT & Digitalization in Industrial Region ISEA, will take interim charge as President for the ISEA region. A permanent successor is expected to be in place during the spring.

John Schmidt, the current President, Industrial Region Americas, will leave SKF to continue his career outside SKF. He will remain in an advisory role during a brief transition period.

"On behalf of SKF I would like to thank John for his valuable contribution during many years of employment and I wish him all the best in future. I also take the opportunity to welcome Manish to his new role," says Rickard Gustafson.

Aktiebolaget SKF
      (publ)

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com 

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com 

The following files are available for download:

https://mb.cision.com/Main/637/3923226/2585262.pdf	20240206 Changes in Group Management to accelerate strategic transformation and profitable growth
https://news.cision.com/skf/i/rickard-gustafson,c3264387	Rickard Gustafson
https://news.cision.com/skf/i/manishbhatnagar,c3264388	ManishBhatnagar

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SOURCE SKF

FAQ

Who is the new President, Industrial Region Americas?

Manish Bhatnagar is appointed as the new President, Industrial Region Americas.

Who will take interim charge as President for the ISEA region?

Fredrik Hallen will take interim charge as President for the ISEA region.

Who is leaving SKF?

John Schmidt, the current President, Industrial Region Americas, will leave SKF.

What is the aim of the leadership changes?

The company aims to find new opportunities and increase competitiveness.