The pressure became too great. Now forced Sverker Martin-Löf in a historic power exit to leave all his board already at the spring meetings. He is Chairman of Industrivärden, SCA and SSAB. At Handelsbanken, and Ericsson, he is Vice Chairman and a director of Skanska.
Anders Nyren leaves President and CEO of Industrivärden and suggested stepping up as chairman of the investment company. This raises one of several empty CEO chairs after the morning’s dramatic statement. Even Handelsbanken will promptly have to shake until a new CEO when Pär Boman takes the club in the bank. Anders Nyrén thus leaves the presidency of Handelsbanken and becomes ordinary board member.
Fredrik Lundberg was given a key role in the great power vacuum that occurs after Sverker Martin-Löf. At Handelsbanken remains Fredrik Lundberg as vice chairman and Industrivärden he steps up as Vice Chairman. It had been speculated in many quarters that he would take over the mission president.
Additional dramatic changes occur in SCA, SSAB, Ericsson and Skanska. The SCA takes Pär Boman over as new Chairman, he has served on the hygiene giant’s board since 2010. In SSAB replaced Sverker Martin-Löf of the anonymous Bengt Kjell, a workhorse Industrivärden Sphere. He sits today, including the Board of ICA.
One of Sweden’s largest companies, Ericsson, loses two directors, Sverker Martin-Löf and Pär Östberg, the latter got a week ago sacked as Deputy President of industrivärden. One of those places, Anders Nyren, the second place is still vacant.
Even in Skanska’s Board takes Pär Boman over Sverker Martin-Löf’s mission.
– Now that Sverker Martin-Löf leaving their directorships in the group taking new forces at who are familiar with each company and thus guarantees continuity, says Fredrik Lundberg, who also partly takes criticized Sverker Martin-Löf in defense.
– Sverker has a very successful career both as CEO and chairman of several companies. There is reason to be very grateful for his dedicated efforts for many years. He has done great services companies, many of which were key for development. We wish Sverker all the best for the future, says Fredrik Lundberg in a statement.
An important notice in the historic press release from Industrivärden is that there is an end of the personal union, which has criticized for being something of a buddy club.
“The principal owners have been influenced by the recent debate including on the issue of the personunioner within the group. It is therefore intended that the following principles will apply in the future: Senior management of the portfolio companies will not sit in the Company’s board. Moreover, these limited extent only able to sit in any other company’s board within the group. “
This says Sverker Martin-Löf in a press release:
– I believe that the succession plan that now developed has all the makings of a professional way meet Industry’s ambition to be an active and long-term ownership in Swedish listed large caps. I note with satisfaction that the pension funds with multiple Handelsbanken and SCA remains prepared to take their long-term ownership and at the same time, I find that the good cooperation with Lundberg’s composed and developed for the benefit of ownership stability of Industrivärden.
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