Lundberg has received the crown and kingdom “- Swedish newspaper Svenska Dagbladet

Grand words and solemn Conclusions it is wise to conserve. But today superlatives in its place. There is something unique we now witness, a sphere of power in decay. One by one, the leading top managers got to go in the wake of the SCA harness; Sverker Martin-Löf, Jan Johansson and now Anders Nyrén.

In all cases they have in the last entrenched in power and eventually rough forced to leave by the new rulers, Pär Boman and Fredrik Lundberg, Chairman of Handelsbanken and future President of Industrivärden.

Previously it was only imagined they again thrown the doors, threats and anger outbursts. Now it’s personal attacks on an open stage in a way that is extremely rare in Swedish industry.

“Now then, Fredrik Lundberg finally got the crown and kingdom.”

Sverker Martin-Löf’s played out today in the morning is an example. He speaks of a coup-like seizure of power and ventilates unabashedly conspiracy theories surrounding Fredrik Lundberg’s power ambitions of Industrivärden.

SvD Enterprise’s review of SCA and the whole Industrivärden Sphere has revealed a stale and outdated corporate culture in which directors have been scratching each other on the back, abused the trust of shareholders and equity through an overconsumption of business jets and exclusive hunting trips. A criminal investigation is ongoing.

It’s the one part of the story. The second – at least as troubling – is the total inability of those involved to allow for inaccuracies. Time and again, Sverker Martin-Löf, Jan Johansson and Anders Nyrén revealed a startling Tone deafness.

Sverker Martin-Löf’s statement at the end of the SCA meeting recently where he wanted strike a blow for hunting, and Anders Nyréns frequently quoted comment Dagens Nyheter reporter at the same meeting, in which he argues that there is something wrong with the culture of SCA, but it is the perception of culture as it is wrong, is almost painful illustrations of there.

Several representatives of the Swedish minority shareholders believe that the SCA meeting was a watershed event. Had Anders Nyren gone up in the pulpit, has taken responsibility for the incident, promised repentance, left SCA’s board but asked humbly confidence in the Company’s board had the situation been different. Then it is possible that the institutions, after all, had given him their support.

Now it was not so. Anders Nyrén did not back a millimeter. There was not an ounce of self-examination. Then blew institutions to the final battle. This opened the exit door wide open. But it was not the institutions that opened it – it was Pär Boman. First, by refusing to accept the mångmiljonlön that he had been offered by Anders Nyren to make the club in Handelsbanken. Then, by requiring a further examination of SCA’s business aviation after the two audit reports.

A bit worrying in this context is SvD Enterprise reports that Wallenberg sphere has supported Anders Nyrén. A reason must be that you do not want to upset the balance of power between the two spheres that has long existed in the Ericsson Board. The fact that the Board, including Jacob Wallenberg and Börje Ekholm, elected Anders Nyren Vice Chairman at its first meeting after meeting Ericsson’s recently indicates a surprising confidence Anders Nyrén. And in Ericsson, and even in the Volvo Board, clinging to Anders Nyren still there.

It would be surprising if the Wallenberg sphere has not reached the same conclusion as large parts of the rest of the business when it apply an outdated corporate culture, overexploitation of business jets and luxurious hunting trips.

Or is it that Wallenberg was simply afraid of contagion – that examination of Sweden’s second largest sphere of power, Industrivärden Sphere, will lead to a questioning of the largest Investor Sphere?

Now, when Fredrik Lundberg finally got the crown and kingdom. As the new chairman of Industrivärden he gets an empire of Swedish industry giants that control over, such as SSAB, Sandvik, SCA and Volvo. But power will be shared with Handelsbanken by Chairman Pär Boman and related foundations that together yet has a considerably larger property than Lundberg’s more than 21 percent.

The challenges are enormous. Confidence is driven in the ground. And head position is closest to catastrophic, Industrivärden lacks a regular president, SCA’s newly elected president Magnus Groth could prove to be a panic solution and the future of Sandvik’s CEO Faxander is uncertain.

Now it is up to evidence Fredrik Lundberg and Pär Boman.