Anders Thelin, member of group executive management, president of the Sandvik Venture business area and with overall responsibly for the group's research and development activities, will leave his position and retire according to the current agreement on 31 October 2012.

Tomas Nordahl, a member of group executive management and head of IT, sourcing and strategy, has been appointed the new president of Sandvik Venture effective 1 November 2012. Nordahl will retain his current assignments along with with the new area of responsibility.

Olle Wijk, Chairman of Sandvik's R&D board and director of technology and research at the Sandvik Materials Technology business area, will assume overall responsibility for the group's research and development as of 1 November while also retaining his current assignments in the business area. Olle will also become a member of Sandvik's extended group executive management team.

"With his extensive expertise and proven ability to successfully pursue change projects and structural issues, Tomas Nordahl has the right profile to lead Sandvik Venture,” said Olof Faxander, president and CEO of Sandvik. “In a research-intensive company like Sandvik, I believe that it is important to have a person with a solid background within research in the executive management. Olle Wijk is an excellent choice to lead Sandvik's strategic research and development.

“I would also like to take this opportunity to express my deepest gratitude to Anders Thelin, who, over a period of 35 years, has used his strong and committed leadership skills as the president of various business areas and as a member of group executive management to make a very tangible contribution to Sandvik's successes."