By Dominic Chopping
STOCKHOLM--Swedish engineering company Sandvik AB (SAND.SK) said
Friday that Anders Thelin, President of the Sandvik Venture
business area and with overall responsibly for the Group's research
and development activities, will leave his position and retire
according to the current agreement.
MAIN FACTS:
-He will leave the Sandvik Group on Oct. 31, 2012.
-Tomas Nordahl, member of Group Executive Management and Head of
IT, sourcing and strategy, has been appointed the new President of
Sandvik Venture effective Nov. 01, 2012.
-Nordahl will retain his current assignments in parallel with
the new area of responsibility.
-Olle Wijk, Chairman of Sandvik's R&D Board and Director of
Technology and Research at the Sandvik Materials Technology
business area, will assume overall responsibility for the Group's
research and development as of Nov. 01, while also retaining his
current assignments in the business area.
-Wijk will also become a member of Sandvik's expanded Group
Executive Management team.
-At 0728 GMT shares traded 0.1% lower at SEK88.40.
-Write to Dominic Chopping at dominic.chopping@dowjones.com
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