SDVKY Sandvik AB (PK)

By Christina Zander

STOCKHOLM--Swedish engineering group Sandvik (SAND.SK) Monday said Jim Nixon has been appointed as president of Sandvik Venture business area and to Sandvik's Group Executive Management.

Mr Nixon succeeds Tomas Nordahl, who will leave Sandvik for a position outside the company.

Jim Nixon is currently president of Varel International Energy Services Inc., a company operating in the energy sector, that Sandvik acquired earlier this year. Jim Nixon has experience in the energy sector from leading positions at SDBS, which was part of the global technology group Dresser Industries.

Shares closed at SEK80.85 Friday.

Write to Christina Zander at christina.zander@wsj.com