Adds SAS Chairman remark, analyst remark STOCKHOLM, Jan 12
Adds SAS Chairman remark, analyst remark
STOCKHOLM, Jan 12 (Reuters) – Rickard Gustafson will step down from his place as chief government of the Scandinavian airline group SAS SAS.ST within the first half of the yr to take the helm on the Swedish bearings maker SKF SKFb.ST, the businesses stated late on Monday.
Gustafson will substitute Alrik Danielson, who hadvert already introduced he was stepping down this yr after six years as chief government.
Gustafson, 56, has been CEO at SAS for a decade and likewise sits on the board of SKF’s largest proprietor, Basis Asset Administration (FAM).
He leaves SAS with the airline business in disaster due the pandemic. SAS accomplished a capital enhance in late 2020, a yr of deep losses.
SAS Chairman Carsten Dilling stated in a press release he was “each disillusioned and sorry” that Gustafson was leaving, however applauded Gustafson’s efficiency at SAS.
“SAS continues to be in a vital – however steady place – and the board has in fact instantly began the method to nominate a brand new President and CEO of SAS”, Dilling stated.
Sydbank repeated its promote suggestion for SAS on Monday night, saying Gustafson’s departure left a void on the airline at a vital time.
SKF generates about 70% of group gross sales in its way more worthwhile industrial enterprise, whereas 30% stems from the automotive sector.
Below Danielson’s management, it has been revamping its huge manufacturing facility community, raised spending on automation, pushed performance-based income fashions and lower prices.
SKF, whose rivals embody Germany’s Schaeffler SHA_p.DE, 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 and Simon Johnson)
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