Sandvik CEO Rosengren to step down, set to join ABB as Chief Executive

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Sandvik CEO Rosengren to step down, set to join ABB as Chief Executive

On Sunday, the 11th of August 2019, 157-year-old Sandvik AB, a Swedish high-tech engineering group specialized in manufacturing cutting-edge tooling systems for metal industry, headquartered in Stockholm, had issued a statement saying that the Swedish Engineering Group had decided to supplant its Chief Executive Bjorn Rosengren, who would be joining a Swiss-Swedish engineering and robotics group ABB Ltd.

by next February. Apart from that, in a separate statement on Sunday (August 11th), ABB had been quoted saying that Rosenburg, who had a terrible reputation of being ruthless to underperforming divisions, would join the company by February 2020.

Besides, according to Sunday’s (August 8th) ABB statement, Rosenburg would be replacing ABB’s present CEO, Peter Voser on March next year, while Voser would be reverted to his previous position as the Chairman ABB’s management board.

Nevertheless, Voser has been acting as a temporary CEO after its former CEO Ulrich Spiesshofer had abruptly left the company about three months ago. Meanwhile, adding that the Stockholm-based Swedish high-tech engineering group would initiate a hunt for a new President and CEO as early as by next Monday (August 12th), Sandvik said in a statement on Sunday (August 11th), “Bjorn Rosengren has, since he joined Sandvik in November 2015, established a solid decentralized business model for the company and made the organization more flexible and efficient. ”