Oct 25, 2019   SOURCE: PR NewsWire

Stefan Widing Appointed New President and CEO of Sandvik

SANDVIKEN, Sweden, Oct. 25, 2019 /PRNewswire/ -- Sandvik's Board of Directors has appointed Stefan Widing as new President and CEO for Sandvik with effect no later than April 2020. Stefan Widing succeeds Björn Rosengren, who as previously announced leaves Sandvik as of 1 February 2020.

Stefan Widing is since 2015 the Executive Vice President of Assa Abloy and President of HID Global Corporation, a technology division within Assa Abloy. He holds a M. Sc. in Applied Physics and Electrical Engineering and a bachelor's degree in Business Administration. Prior to his current role he was the General Manager for Assa Abloy's Shared Technologies and before that he held various positions in Assa Abloy and SAAB Aerospace.

"We are very pleased that Stefan Widing will take on the position as President and CEO of Sandvik. Stefan is a highly appreciated leader with a solid industrial track record of developing organizations and businesses, both organically and through acquisitions. In addition, his competence in advanced technologies and experience from leading digital transformations will be another valuable asset to Sandvik. Stefan definitely has the capabilities needed to continue the decentralized way of working and to ensure Sandvik's future development," says Johan Molin, Chairman of the Sandvik Board of Directors.

"I really look forward to joining Sandvik. I'm convinced that such a technologically advanced industrial group, recognized for its very competent employees, has a lot of future potential not the least by further developing within the digital area and exploring new technologies, thereby leveraging efficiency, productivity and sustainability even more for its customers," says Stefan Widing.

In case of that an interim solution is needed, Tomas Eliasson, Executive Vice President and Chief Financial Officer, will be Acting President and CEO for Sandvik.

A conference call for media and investors with Johan Molin, Chairman of the Sandvik Board of Directors, is held today starting at 11.00 CET. Access the call using PIN: 72371618# and the dial in details below:

SE: +46-8-566-42-651

UK: +44-333-300-0804

US: +1-631-913-1422

For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, phone: +46-8 456-14-94 or Martin Blomgren, Press and Media Relations Manager, phone: +46-70-577-0549.

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at about 09.30 CET on 25 October 2019.

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SOURCE Sandvik