By July 1, auto supplier Haldex will have a new CEO – Bo Annvik. Annvik, a former Volvo Cars senior executive, is the successor of Ulf Ahlen who will retire after having led Haldex as its CEO starting in December 2011. The experience of Annvik, a Swedish national, in the auto industry spans over 15 years. At Volvo, Annvik has held several senior management roles.
One of which is as Volvo Cars of North America’s vice president of product planning and business development. He was also a former employee of steel producer Outokumpu Group and auto supplier SKF, who was the head of business development in the automotive division.
Haldex’s specialization is in developing and producing brake, suspension and all-wheel-drive systems for worldwide automakers such as the Volkswagen Group and Volvo.
Last year, the company posted earnings before tax of 217 million SEK (23.8 million euros), a significant climb from the 42 million SEK in 2010. The net sales of the Swedish company increased to 4 billion SEK (438 million euros) in the same period.