Sandvik Mining appoints new president

Lars Engström has been appointed President of Sandvik Mining and member of Sandvik’s Group Executive Management, the company has announced in a press release. He replaces Scot Smith, who leaves the company.

“I have come to conclusion that a new leadership is needed to develop Sandvik Mining going forward,” said Björn Rosengren, Sandvik’s CEO and President, who only took up his position in November.

“I am convinced that Lars Engström, whom I know well from Atlas Copco, has the experience and leadership qualities required for this. At the same time, I would like to thank Scot Smith […] for his contributions.”

Engström joins Sandvik from air treatment solutions company, Munters, where he was President and CEO. Before Munters, he held various leadership positions at Atlas Copco, including as President of Rock Drilling Equipment and Underground Rock Excavations Divisions.

The appointment is the third personnel change within Sandvik’s Group Executive Management since Rosengren took charge of the company. In November, Mats Backman, Executive Vice President and Chief Financial Officer left the company to take up a position at automotive safety supplier, Autoliv.

This was followed by the announcement that Sandvik-veteran, Olle Wijk, Head of Group R&D, was to retire next year and step down from his position in Group Executive Management at the end of the year.

Smith has been head of Sandvik Mining since May 2014 and was one of the few non-Swedish members of Group Executive Management. He had previously held leadership roles at Sulzer Pump Division and Weir Minerals.

Sandvik has been impacted by the slowdown in the mining industry, which has seen most major mining companies cut CAPEX spending. Earlier this year, it announced that it was putting its Mining Systems business unit, which focuses on the design, engineering and assembly of material handling systems, up for sale. In its 3Q15 results, it reported a fall in operating profits of 7%.

Edited by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/mining/14122015/sandvik-mining-appoints-new-president-3282/