Nomination Committee's proposal for Board of Directors of AB SKF

Rhea-AI Summary

The Nomination Committee has proposed the appointment of four new Board members for SKF: Beth Ferreira, Therese Friberg, Richard Nilsson, and Niko Pakalén. Ferreira brings experience from IMI plc and Illinois Tool Works, while Friberg serves as CFO at Electrolux. Nilsson is an Investment Director at FAM AB, and Pakalén is a partner at Cevian Capital. Colleen Repplier has opted out of re-election. The Board will have ten members with Hans Stråberg proposed as Chair. The final proposals will be released alongside the notice for the Annual General Meeting in 2023.

Positive

• New appointments may bring fresh perspectives and expertise to the Board.
• Diverse backgrounds of proposed members can enhance strategic decision-making.

Negative

• Colleen Repplier's departure may indicate potential continuity issues.

GOTHENBURG, Sweden, Feb. 10, 2023 /PRNewswire/ -- SKF's Nomination Committee proposes Beth Ferreira, Therese Friberg, Richard Nilsson and Niko Pakalén as new Board members of AB SKF.

Beth Ferreira is Divisional Managing Director, Precision Engineering at IMI plc. She has previously held several senior positions, including as group president for several different business areas for Illinois Tool Works (ITW).

Therese Friberg is Group CFO and Executive Vice President of Electrolux. She has held several senior positions within the Electrolux Group, including as CFO and managing controller for different business areas.

Richard Nilsson is Investment Director at FAM AB and board member of Stora Enso Oyj, IPCO AB, GROPYUS AG and Cinder Invest AB. He was previously equity research analyst at SEB Enskilda, Alfred Berg and Handelsbanken.

Niko Pakalén is partner at Cevian Capital and board member of TietoEvry Oyj. He has previously held leading positions within Cevian Capital and worked at Danske Bank.

Colleen Repplier has declined re-election at the Annual General Meeting 2023.

The Nomination Committee proposes that the Board of Directors shall consist of ten members and no deputy members. In addition to the proposed four new elections the Nomination Committee proposes re-election of the Board members Hans Stråberg, Hock Goh, Geert Follens, Håkan Buskhe, Susanna Schneeberger and Rickard Gustafson.

Hans Stråberg is proposed to be the Chair of the Board of Directors.

The Nomination Committee's additional proposals will be published in conjunction with the notice of the Annual General Meeting 2023.

The Nomination Committee for the Annual General Meeting 2023 consists of Marcus Wallenberg, FAM, Christer Gardell, Cevian Capital, Anders Algotsson, AFA Försäkring and Anders Jonsson, Skandia, together with the Chair of the Board of Directors Hans Stråberg.

Aktiebolaget SKF
     (publ)

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Group Communication
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/637/3712886/1842081.pdf	20230210 Nomination Committee’s proposal for Board of Directors of AB SKF
https://news.cision.com/skf/i/gotahom-4jpg-png-highpreview-1278,c3143182	Götahom 4jpg png highpreview 1278

View original content:https://www.prnewswire.com/news-releases/nomination-committees-proposal-for-board-of-directors-of-ab-skf-301744074.html

SOURCE SKF

FAQ

Who are the new proposed Board members for SKF?

The new proposed Board members for SKF are Beth Ferreira, Therese Friberg, Richard Nilsson, and Niko Pakalén.

What roles do the new SKF Board members hold?

Beth Ferreira is a Divisional Managing Director at IMI plc, Therese Friberg is CFO of Electrolux, Richard Nilsson is an Investment Director at FAM AB, and Niko Pakalén is a partner at Cevian Capital.

When will the SKF Annual General Meeting take place?

The date for the SKF Annual General Meeting in 2023 has not yet been specified; additional proposals will be published with the notice.

What is the significance of the changes to SKF's Board?

The changes may bring new expertise and perspectives, potentially impacting SKF's strategic direction and governance.

Who is proposed as the Chair of SKF's Board of Directors?

Hans Stråberg is proposed to be the Chair of the Board of Directors for SKF.