STOCKHOLM, Jan 11 (Reuters) – Rickard Gustafson will step down from his place as chief government of the Scandinavian airline group SAS within the first half of the 12 months to take the helm on the Swedish bearings maker SKF, the businesses stated on Monday.
Gustafson will change Alrik Danielson, who’s stepping down this 12 months after six years as chief government.
Gustafson has been CEO at SAS for a decade and in addition sits on the board of Basis Asset Administration (FAM), SKF’s largest proprietor.
He leaves SAS with the airline trade in disaster due the pandemic. SAS accomplished a capital enhance in late 2020, a 12 months of deep losses.
SKF generates about 70% of group gross sales in its way more worthwhile industrial enterprise, whereas 30% stems from the automotive sector.
Underneath Danielson’s management, it has been revamping its huge manufacturing facility community, raised spending on automation, pushed performance-based income fashions and reduce prices.
SKF, whose rivals embody Germany’s Schaeffler, constantly beat analysts’ forecasts all through 2020, and in November raised its long-term profitability goal. (Reporting by Johannes Hellstrom and Johan Ahlander; Modifying by Kevin Liffey)
