Sandvik’s board of directors have appointed Olof Faxander as the new president & CEO of the company, effective 1 February 2011. Faxander will succeed Lars Pettersson who will leave Sandvik after nine years as CEO. This appointment is in conjunction with an impending generation shift in the company’s group executive management. Faxander has played a role in strengthening the company by bringing broad international experience from competitive markets, and the ability to develop companies for increased value generation.
