Investors

As previously announced, Stefan Widing is appointed new President and CEO of Sandvik. He will assume the position as of 1 February 2020, succeeding Björn Rosengren who at the same time leaves Sandvik.

Sandvik has signed an agreement to divest the majority of Drilling and Completions (Varel), meaning the operations relating to the oil and gas industry to the private equity firm Blue Water Energy and its co-investor, the privately owned Nixon Energy Investments. Sandvik will remain a minority owner of 30% of the company and hold a position on the board.

Sandvik's Board of Directors has appointed Stefan Widing as new President and CEO for Sandvik with effect no later than April 2020. Stefan Widing succeeds Björn Rosengren, who as previously announced leaves Sandvik as of 1 February 2020.