The background for Jay Longbottom’s decision to step down as CEO is that it has proved to be difficult to combine residing in the USA, and at the same time heading a publicly listed Swedish company. Based in Kansas City, USA Jay will remain in the role as President of the North American operations and assume the role as Executive Vice President for the Haldex Air Control division, representing 40% of group´s sales.
Prior to heading Haldex Jay Longbottom served as head of Haldex Commercial Vehicle System Division successfully transforming the division into a truly global player with exposure to fast growing markets like China and Brazil.
“We respect Jay´s decision to step down as CEO of Haldex,” says Göran Carlson, Chairman of the Board of Haldex AB. “Jay is a well-liked manager who has greatly added to the company's development. We are pleased that Jay will be able to focus more on the North American market and take on the role as head of the important Air Control Division. At the same time we have secured a smooth transition with Ulf Ahlén as acting CEO, who with his Haldex Group background will add valuable experience and competence".
”My commitment to Haldex will not in any way change. From a personal point of view this is the best solution for all parties since it has shown to be very difficult to combine living in the US and leading a global company with its headquarters in Sweden”, says Jay Longbottom.
Ulf Ahlén will take over as acting CEO from December 1, 2011 and will have his base in Landskrona, Sweden. Jay Longbottom will stay on as CEO until Ulf Ahlén assumes the role.
The search for a permanent CEO has been initiated.
For further information, please contact: Göran Carlson, Chairman of the Board: +46 418 47 61 88
Haldex (www.haldex.com (http://www.haldex.com/)), headquartered in Landskrona, Sweden, is a provider of proprietary and innovative solutions to the global commercial vehicle industry, with focus on products in vehicles that enhance safety, environment and vehicle dynamics. Haldex is listed on the Nasdaq OMX Stockholm Stock Exchange and had net sales of nearly 3.7 billion SEK in 2010. The number of employees amounts to about 2,200.
Haldex AB (publ) is required to publish the above information under the Swedish Financial Instruments Trading Act. The information was submitted for publication on November 17, 2011 at 8.30 am CET.