The appointment is a result of an upcoming organizational change within business area Sandvik Machining Solutions, where Nadine Crauwels will be heading a new business area segment consisting of the current divisions Sandvik Coromant, Seco Tools, Walter, Dormer Pramet and Wolfram. The segment will take over the name Sandvik Machining Solutions.

"I am happy and proud to take on the role as head of the newly formed business area segment and I look forward to further building on the unique strengths we have in our various divisions," says Nadine Crauwels.

A second business area segment is also formed within the business area, consisting of the divisions Applied Materials Technology and Additive Manufacturing. This segment will be called Sandvik Manufacturing Solutions and will be led by the current Business Area President Lars Bergström until the end of 2020, after which Sandvik's President and CEO Stefan Widing will be responsible during a transition period of about one year.

As a consequence of the changes Stefan Widing will also, as from 1 October 2020, take over the responsibility as President for the business area, that as of 1 January 2021 will change name to Sandvik Manufacturing and Machining Solutions.

"The new organization aims to further increase focus on the growth opportunities within both our core area of metal cutting and within adjacent areas such as software solutions and services for the wider component manufacturing industry. I see great potential in exploring new opportunities within a manufacturing industry that becomes more digital and connected, and our new structure will ensure that we capture the potential in a lean and swift way," says Stefan Widing.

The organizational change does not affect Sandvik's other two business areas, nor does it affect reported figures for the business areas in the Sandvik Group.

Lars Bergström will continue to be a member of the Sandvik Group Executive Management until 1 January 2021, when he has decided to retire.

Stockholm, 15 July 2020
Sandvik AB

For further information, contact Anna Vilogorac, Investor Relations Officer, phone: +46 8 456 11 94 or Martin Blomgren, Press and Media Relations Manager, phone: +46 70 577 0549.