This means that from January 2015, the company will operate through three business areas: Industrial Market, Automotive Market and Specialty Business.

The new, simplified organizational structure is a logical next step in our development and will strengthen our customer focus,” said Tom Johnstone, SKF president and CEO. “It will also better enable us to meet the changing demands of the marketplace.”

Alrik Danielson, president and CEO from 1 January 2015, will also take up the role of president, Industrial Market. “The Industrial Market business area represents approximately two-thirds of our total sales and a significant part of our profits,” he said. “It is a vital part of our business and I have therefore decided to personally take responsibility for it within the group, ensuring a smooth integration and that customers continue to benefit from the knowledge built up by our many years of investment.”

Group management

Stephane Le-Mounier will lead the Automotive Market business area from 1 January 2015 and Patrick Tong has been appointed president, Specialty Business and a member of SKF’s group management.