Tom Johnstone, who will leave his post as chief executive officer of the world’s largest bearings maker SKF AB at year-end, has been appointed chairman of chainsaw and gardening-equipment maker Husqvarna AB.
Johnstone, 59, who has been a member of Husqvarna’s board since 2006, is also a board member of Investor AB, the holding company of Sweden’s Wallenberg family and Husqvarna’s largest owner.
Scottish-born Johnstone is becoming chairman as Husqvarna seeks to expand its operating margin to 10 percent next year, from five percent in 2013. A key task ahead is improving the profitability of its new consumer-brands division, which markets lawn mowers and chainsaws under brand names like PoulanPro, McCulloch and Flymo.
Husqvarna’s new board will be elected at the company’s annual general meeting in Joenkoeping, Sweden on April 21, 2015.
Tom Johnstone appointed Husqvarna chair
He has been a member of the company's board since 2006.