The Nomination Committee of Husqvarna AB (publ) proposes changes to the Board of Directors to be elected at the 2025 AGM

Rhea-AI Summary

Husqvarna AB (HSQVY) announced significant changes to its Board of Directors ahead of the 2025 Annual General Meeting scheduled for April 29, 2025, in Jönköping. Three current board members - Tom Johnstone, Bertrand Neuschwander, and Lars Pettersson - have declined re-election.

The Nomination Committee proposes three new board members: Claes Boustedt (Executive VP of L E Lundbergföretagen AB), Marlies Gebetsberger (Senior VP at Royal Philips), and Magnus Jarlegren (President of Autoliv Europe). The committee will propose re-election of six existing members, maintaining a total board size of 9 members.

As previously announced, Torbjörn Lööf is proposed to be elected as Chair of the Board. The complete proposals will be announced with the formal AGM notice around March 25, 2025.

Positive

• Board diversity enhanced with addition of experienced executives from various industries
• Smooth transition process with maintained board size of 9 members
• New board members bring expertise from relevant sectors (consumer goods, automotive, investment management)

Negative

• Loss of experience with departure of three long-standing board members
• Potential disruption in board continuity during transition period

STOCKHOLM, March 24, 2025 /PRNewswire/ -- As previously announced, Tom Johnstone has declined re-election to the Husqvarna Board of Directors. In addition, Bertrand Neuschwander and Lars Pettersson have informed the Nomination Committee that they will decline re-election to the Board. In light of these changes, and following a recruitment process, the Nomination Committee is pleased to announce that it will propose that the following three persons be elected as new Board members by the 2025 AGM (to be held in Jönköping on April 29, 2025):

Claes Boustedt: Claes Boustedt is the Executive Vice President of L E Lundbergföretagen AB and the President of L E Lundberg Kapitalförvaltning AB. He holds an M.Sc. in Business and Economics from the Stockholm School of Economics. He is a board member of Sandvik AB, Hufvudstaden AB and Alleima AB.

Marlies Gebetsberger: Marlies Gebetsberger is the Senior Vice President and Head of Personal Health for Royal Philips in Western Europe. With over a decade of experience at Royal Philips, Marlies has held various roles within the company. Before joining Philips, Marlies held several global and local positions at Unilever. She holds a master's degree in international business administration from the University of Economics in Vienna, Austria. She does not currently hold any other non-executive roles.

Magnus Jarlegren: Magnus Jarlegren is the President of Autoliv Europe, and has previously held other senior positions with Autoliv, Sandvik Coromant and McKinsey & Company. He studied Mechanical Engineering at the Chalmers University of Technology. He does not currently hold any other non-executive roles.

The Nomination Committee intends to propose the re-election of all other existing Board members at the 2025 AGM, namely: Ingrid Bonde, Pavel Hajman, Torbjörn Lööf, Katarina Martinson, Daniel Nodhäll and Christine Robins. As a result of the foregoing, the total size of the Board will remain unchanged (i.e., a total of 9 elected members). As previously announced, the Nomination Committee intends to propose that Torbjörn Lööf be elected as Chair of the Board. The Nomination Committee will announce its complete proposals in connection with the formal notice of the Annual General Meeting to be published on or about March 25, 2025.

The Nomination Committee consists of Petra Hedengran, chair (Investor AB), Louise Lindh (L E Lundbergföretagen AB), Fredrik Ahlin (If Skadeförsäkring AB), Oskar Börjesson (Livförsäkringsbolaget Skandia) and Tom Johnstone (Board Chair of Husqvarna AB).

For additional information, please contact:
Media
Henrik Sjöström, Head of External Communication
+46 727 15 77 85
press@husqvarnagroup.com 

Investors
Johan Andersson, Vice President Investor Relations
+46 702 100 451
ir@husqvarnagroup.com 

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The Nomination Committee of Husqvarna AB (publ) proposes changes to the Board of Directors to be elected at the 2025 AGM

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SOURCE Husqvarna Group

FAQ

Who are the new board members proposed for Husqvarna AB (HSQVY) in 2025?

The proposed new board members are Claes Boustedt (from L E Lundbergföretagen), Marlies Gebetsberger (from Royal Philips), and Magnus Jarlegren (from Autoliv Europe).

When will Husqvarna AB (HSQVY) hold its 2025 Annual General Meeting?

Husqvarna's 2025 AGM will be held on April 29, 2025, in Jönköping.

Which current board members are leaving Husqvarna AB (HSQVY)?

Tom Johnstone, Bertrand Neuschwander, and Lars Pettersson have declined re-election to the board.

Who will be the new Chair of Husqvarna AB (HSQVY) board?

Torbjörn Lööf is proposed to be elected as the new Chair of the Board.

How many members will be on Husqvarna's (HSQVY) board after the 2025 changes?

The total board size will remain unchanged at 9 elected members.