#Sweden #Gothenburg #AB SKF #Nomination Committee #Mats Rahmström

Introduction

In an important development for AB SKF, the Nomination Committee has proposed the inclusion of Mats Rahmström as a new member of its Board of Directors. This decision comes in light of Rahmström's extensive experience in leading major companies and his strong industrial background.

Background of Mats Rahmström

Mats Rahmström previously held the prestigious positions of President and CEO at Atlas Copco Group until April 2024. His leadership at Atlas Copco encompassed numerous senior roles, showcasing his versatility in managing diverse sectors within the industrial landscape. Currently, he serves as the Chairperson of the Board for Piab Group AB. His board memberships also extend to Investor AB, ABB Ltd, Wärtsilä Oyj, R12 Distribution AB, and Qvantum AB, reflecting his deep involvement in the industrial sector and governance.

Nomination Committee's Recommendations

In conjunction with the nomination of Mats Rahmström, the committee has proposed the re-election of current board members including Hans Stråberg, Hock Goh, Geert Follens, Håkan Buskhe, Susanna Schneeberger, Rickard Gustafson, Beth Ferreira, Therese Friberg, Richard Nilsson, and Niko Pakalén. Notably, Hans Stråberg is recommended to continue as the Chair of the Board.

Significance of the Proposal

Rahmström's appointment is expected to bring fresh insights and leadership capabilities to AB SKF's board. His previous experience at a leading global industrial company aligns well with SKF's strategic goals. As the company navigates challenges in the market, the addition of a seasoned executive like Rahmström could enhance its competitive edge and governance.

Future Developments

Further details regarding the Nomination Committee's recommendations will be revealed alongside the announcement for the Annual General Meeting 2025. The committee, which consists of prominent figures such as Marcus Wallenberg from FAM, Philip Ahlgren from Cevian Capital, and others, is keen on shaping a robust board structure that supports AB SKF's long-term objectives.

Conclusion

In summary, the proposal for Mats Rahmström's board membership at AB SKF marks a significant step towards strengthening the company's governance framework. With his extensive experience and proven track record, Rahmström is poised to contribute meaningfully to the board and the overarching growth strategies of AB SKF. Stakeholders and investors will be watching closely as this proposal unfolds in the upcoming General Meeting.