Change of leadership at Ovako
Ovako, a leading European producer of engineering steel, will have a new President and CEO as Tom Erixon has been appointed as President and CEO at Alfa Laval, a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The process of identifying a new CEO of Ovako is ongoing and is anticipated to be closed shortly. Tom Erixon will continue as CEO until a successor has been appointed.
“We wish to thank Tom Erixon for his contribution of several years of strong leadership in turbulent times. Senior and competent management teams have been recruited to the local sites. Furthermore Ovako has strengthened the product development and marketing towards our customers as well as expanded the sale organizations in Europe and Asia. Important measures to increase efficiency have also been taken. The Board of Directors fully supports the initiated restructuring program that was launched recently and wishes Tom Erixon further success in his new position”, says Finn Johnsson, Chairman of the Board.
Ovako recently announced a restructuring program. The company’s focus the next two years will be on implementing the program that affects 300 employees. The annual cost saving for the entire program is estimated to be EUR 45 million, the program is implemented during two years with full effect from 2018. During and after the transition, Ovako will continue to offer all of its current product lines to its customers.
Further information can be obtained from:
Kristina Grewin, External Communication Manager, +46 (0)739 82 96 81
Ovako develops high-tech steel solutions for, and in cooperation with, its customers in the bearing, transport and manufacturing industries. Our steel makes our customers’ end products more resilient and extends their useful life, ultimately resulting in smarter, more energy-efficient and more environmentally-friendly products.
Our production is based on recycled scrap and includes steel in the form of bar, tube, ring and pre-components. Ovako is represented in more than 30 countries, and has sales offices in Europe, North America and Asia. Ovako’s sales in 2014 amounted to EUR 862 million, and the company had 2,925 employees at year-end. For more information, please visit us at www.ovako.com