Sandvik has announced that its president and CEO, Björn Rosengren, will resign and leave the company as of 1 February 2020. In a separate statement, Switzerland-based ABB has appointed Mr Rosengren as its new CEO, joining the company on 1 February 2020.

“This has not been an easy decision. Sandvik is a great company with a lot of future potential and I will continue to lead the organisation with a strong commitment until end of January,” said Mr Rosengren.

“Björn Rosengren has, since he joined Sandvik in November 2015, established a solid decentralised business model for the company and made the organisation more flexible and efficient. The Board is very grateful for his and all the employees’ work during these years. We will initiate the process to assign a very experienced and competent industrial leader that can succeed Björn in the role as president and CEO and continue to develop the company even further,” said Johan Molin, chairman of the Board for Sandvik.