Change of leadership at Ovako
Ovako, a leading European producer of engineering steel, will have a new President and CEO as Tom Erixon has been appointed as President and CEO at Alfa Laval, a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The process of identifying a new CEO of Ovako is ongoing and is anticipated to be closed shortly. Tom Erixon will continue as CEO until a successor has been appointed.
“We wish to thank Tom Erixon for his contribution of several years of strong leadership in turbulent times. Senior and competent management teams have been recruited to the local sites. Furthermore Ovako has strengthened the product development and marketing towards our customers as well as expanded the sale organizations in Europe and Asia. Important measures to increase efficiency have also been taken. The Board of Directors fully supports the initiated restructuring program that was launched recently and wishes Tom Erixon further success in his new position”, says Finn Johnsson, Chairman of the Board.
Ovako recently announced a restructuring program. The company’s focus the next two years will be on implementing the program that affects 300 employees. The annual cost saving for the entire program is estimated to be EUR 45 million, the program is implemented during two years with full effect from 2018. During and after the transition, Ovako will continue to offer all of its current product lines to its customers.