SWEDEN – Alfa Laval have today announced through their board of directors that there will be a change in their organisational structure next year as they revealed the identity of the man who will take over as president and CEO of the Alfa Laval Group. The outgoing CEO and president, Lars Renström, is retiring from his position and is set to be succeeded by Tom Erixon who is currently the president and CEO of the OVAKO Group, a leading producer of engineering steel for customers in the bearing, transport and manufacturing industries.

The company released a press statement today to announce their change in CEO with Anders Narvinger, chairman of the board of directors, commenting “I am very pleased to welcome Tom to Alfa Laval. He has a solid industrial background with a proven track record and has the experience needed to take over after Lars and continue to develop Alfa Laval,”

Mr Narvinger also took time to recognise the work of the outgoing CEO, continuing by stating “I also want to thank Lars Renström for his outstanding achievements during close to 12 years as President and CEO for the Alfa Laval Group. Under his leadership the company has grown tremendously whilst the core values of the company have been maintained. Revenues have grown about 3 times and the market capitalizations about 6 times.”

The president-elect of Alfa Laval, Tom Erixon, is a 55-year-old Swede who has held the position of president and CEO of the Ovako Group since 2011, having previously been president of Sandvik Coromant after holding a number of senior leadership positions in Sandvik since his arrival in 2001. Erixon is set to take over as president from Renström at Alfa Laval’s AGM in April 2016.

Erixon commented on today’s announcement, saying “I feel proud and excited to join Alfa Laval which I know as a solid global industrial leader with a strong company culture. I am impressed by the growth and performance of the company under Lars Renström’s leadership over the last decade and my ambition is to continue this successful journey of profitable growth.”

The outgoing Alfa Laval CEO Lars Renström also reflected on the news, declaring “It has been an honour and a privilege to lead Alfa Laval. It is natural that I retire next year when I turn 65 and the Board of Director’s decision to appoint Tom – whom I know from my period at Seco Tools – makes it easier for me to step down. I also want to take the opportunity to thank our customers, shareholders, the Board, the top management of Alfa Laval and all our 18,000 fantastic employees for their strong commitment and trust.”