Jan Moström Appointed as the New CEO of LKAB

LKAB's board of directors has decided to appoint Jan Moström as the new President and CEO of LKAB. Jan Moström´s most recent role was Director of Mining Operations for Boliden as well as having extensive experience from senior positions in the mining industry. In connection with Jan Moström´s new appointment, current President and CEO Lars-Eric Aaro will be leaving his position at LKAB.

"LKAB is facing an intensely changing market which requires a somewhat different leadership competence, with increased focus on cost efficiency and productivity. LKAB's board has decided to appoint a new CEO with experience in rationalization and development of the mining industry. Jan Moström will contribute great knowledge especially in production", says LKAB's Chairman Sten Jakobsson.

LKAB has in recent years made major investments in new mines, logistics and new main levels in underground mines. This all while the work of urban transformation in Gällivare/Malmberget and Kiruna has increased.
"Lars-Eric Aaro has been President and CEO since 2010. He has been committed to pushing LKAB's growth strategy and building a larger company. The board is very grateful for the work that Lars-Eric has done for LKAB", says Sten Jakobsson.

Lars-Eric Aaro will be continuing until the new CEO takes office. Since  Lars-Eric Aaro has been let go, his severance pay is equivalent to 18 months salary in accordance with the guidelines for remuneration to senior executives in state-owned companies.

Jan Moström is 55 years old, with an education in mining engineering.  He is married with 2 children. Jan is from Skellefteå and will be working at LKAB's headquarters in Luleå. Jan Moström will begin at LKAB as CEO on September 15th, 2015.

Contact: Frank Hojem, LKAB´s Senior Vice President of Communication. Tel: 46 (0) 920 380 70. E-mail: frank.hojem@lkab.com

LKAB is an international high-tech minerals group that mines and upgrades the unique iron ore of northern Sweden for the global steel market. Sustainability is core to our business and our ambition is to be one of the industry’s most innovative, resource-efficient and responsible companies. The group had sales of more than SEK 20 billion in 2014 and employs about 4,500 people in 15 countries. Other group business include industrial minerals, drilling systems, rail transport, rockwork services and property management.

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LKAB is an international high-tech mining and minerals group that mines and upgrades the unique iron ore of northern Sweden for the global steel market. Sustainability is core to our business and our ambition is to be one of the industry’s most innovative, resource-efficient and responsible companies. The group had sales of more than SEK 16 billion in 2016 and employs about 4,200 people in 13 countries. Other group business include industrial minerals, drilling systems, rail transport, rockwork services and property management.

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LKAB is facing an intensely changing market which requires a somewhat different leadership competence, with increased focus on cost efficiency and productivity. LKAB's board has decided to appoint a new CEO with experience in rationalization and development of the mining industry. Jan Moström will contribute great knowledge especially in production.
Sten Jakobsson, LKAB's Chairman