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Danielson succeeds Johnstone as SKF’s president and CEO

21 August, 2014

SKF’s long-serving president and CEO, Tom Johnstone, is stepping down and will be succeeded by Alrik Danielson, who has been president and CEO of the Swedish metal powders producer Höganäs since 2005. Danielson worked at SKF from 1987 to 2005, and before he left was president of SKF’s Industrial Division and a member of its executive committee.

Johnstone, a Scotsman who has been with SKF for almost 38 years, will step down on 1 January, 2015. He says that retirement “will not be easy. However, the time is right and the decision to step down has been made easier by the Board choosing Alrik Danielson as my successor.”

“I am very pleased to welcome Alrik Danielson back to SKF,” adds SKF chairman, Leif Östling. “His experience during 18 years at different positions in SKF and the last nine years as CEO of Höganäs AB makes him a competent successor to Tom Johnstone.”

Paying tribute to Johnstone, Östling points out that “under Tom’s leadership, SKF has developed into a knowledge engineering company, profitably increased its sales from SEK41bn ($5.9bn) in 2003 to SEK63bn ($9.1bn) last year, and delivered a total shareholder return of over 400%”.

Johnstone: retirement will not be easy

Alrik Danielson says he is looking forward to “continuing to build on the Group’s positive development during the last decade.”

SKF supplies bearings, seals, mechatronics, lubrication systems, and services including technical support, maintenance and reliability services, engineering consulting and training. It employs more than 48,000 people worldwide.




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