SKF redesign their Industrial business
Company implements new organizational setup to drive business synergy and increase competitiveness
SWEDISH bearing specialists SKF have redesigned parts of their Industrial business to further increase its competitiveness and accelerate profitable growth. The new set-up, which has been implemented with immediate effect, will drive business synergies across the full value chain globally and simplify structures to accelerate execution regionally.
Operations and commercial excellence functions have now been combined into one, which will allow stronger alignment, governance, and end-to-end execution across the full value chain. The independent and emerging businesses area has been discontinued, and its stand-alone entities are now organized in specialized industrial solutions, to further strengthen these strategic core businesses as they are tailored according to respective business and market needs.
‘As the separation of the Automotive business is progressing, we have the opportunity to adapt our set-up for the Industrial business,’ said SKF president and chief executive officer Rickard Gustafson. ‘This is a natural next step in our strategic journey, and with clearer and more efficient structures, we will strengthen both our strategic and commercial capabilities.’
The following changes in group management have been announced:
Hans Landin, senior vice-president, group commercial excellence - bearings, is appointed to lead the new organization of stand-alone businesses and assume the role of president of specialized industrial solutions.
Joakim Landholm, senior vice-president of group operations and chief sustainability officer, will assume the role of senior vice-president of commercial and operations development.
Susanne Larsson, senior vice-president of finance and chief financial officer, will, in addition to her current role, assume the role of chief sustainability officer.
Thomas Fröst, president of independent and emerging businesses, has left group management but will remain in an advisory role during a transition period.
‘A sharpened industrial focus will evolve our strengths, and with this new organizational setup, we aim to create even more progress for our customers and for us as a company,’ said Mr Gustafson.
‘On behalf of SKF, I would also like to thank Thomas for his valuable contribution during many years of employment in building these core businesses, and wish him all the best for the future.’
