Sandvik has announced the appointment of a new president and CEO. Björn Rosengren, currently president and CEO of Wärtsilä Corporation, will succeed Olof Faxander as of Nov. 1, 2015. Faxander has been the President and CEO of Sandvik since 2011.

“He has managed Sandvik through very challenging market conditions and made creditable contributions in the restructuring of Sandvik to a more efficient organization,” says Johan Molin, chairman of Sandvik. “The change of president and CEO was initiated by the board and should be viewed as a next step in Sandvik’s further development.”

Rosengren has led Wärtsilä Corporation since September 2011. Prior to that, he held several management positions at Atlas Copco, totalling about 13 years. He has also worked with other industrial companies including Nordhydraulic, Nordwin AB and ESAB Group.

“I know Björn Rosengren as an exceptionally experienced and successful industrial leader. He has the experience needed to develop Sandvik into the future,” Molin says.

Mats Backman, executive vice president and CFO, will act as president and CEO in the interim period until Björn Rosengren starts his new position at Sandvik.

Sandvik is a high-tech and global engineering group offering advanced products and services that enhance customer productivity, profitability and safety.  The group specializes in tools for the mining and construction industries, among other things. In 2014 the Group had about 47,000 employees and representation in approximately 130 countries. To learn more, go to