Johan Westman appointed new president and CEO for AAK AB

dbe592ed-5c75-4021-8636-3e0201cb49efarticleimage.jpg

24 Nov 2017 --- The Board of Directors of AAK AB has appointed Johan Westman as President and CEO of the company following the death of Arne Frank earlier this year. Westman is currently Senior Vice President Europe and Managing Director of the BlankLight division at Shiloh Industries. Shiloh Industries, Inc., with headquarters in Valley City, Ohio, USA, is a global innovative solutions provider to the mobility market with some 3,600 employees and revenues of approximately US$1 billion. 

The company designs and manufactures products within the body structure, chassis and powertrain systems, focusing on lightweight technologies that provide environmental and safety benefits.

Westman has close to 20 years of industrial experience in management consulting and from the automotive supplier industry. He was President and CEO of FinnvedenBulten AB between 2009 and 2014 and President of the Finnveden Metal Structures AB division 2008–2014. 

Prior to these positions, he spent eight years in management consulting with Arthur D. Little.

“This is a great honor for me and I am very excited to join AAK,” he says. “Under the leadership of the Group management, the company has seen strong sales and profit growth. Together we will continue this growth journey and take AAK to the next level.”

Born in 1973, Westman holds a Master’s degree in Industrial Engineering from Chalmers University of Technology in Gothenburg, Sweden.

”With the recruitment of Johan Westman we will have a CEO with broad industrial and international experience,” says Mikael Ekdahl, Chairman of the Board of Directors. “He has over the last ten years successfully developed companies to drive shareholder value through profitability improvements, organic growth as well as global expansion. I am confident that Johan will continue to develop AAK in the best possible way.”

Westman will assume his position as President and CEO no later than June 1, 2018.

Related Articles

Business News

Unilever to sell Spreads business to KKR private equity for €6.825 bn

16 Dec 2017 --- Unilever has received a binding offer from KKR to purchase its global Spreads business for €6.825 billion on a cash-free, debt-free basis. Unilever’s Spreads business includes brands such as Becel, Flora, Country Crock, Blue Band, I Can’t Believe It’s Not Butter, Rama and ProActiv. It operates across 66 countries around the world. In 2016 the business had a turnover of €3,032 million, EBITDA (before any carveout adjustments under new ownership) of €680 million, and assets of €1,108 million. This announcement, including the information contained in this release, excludes the South Africa Spreads business. 

Food Ingredients News

UK: Ban sales of energy drinks to under 16s, urges Action on Sugar report

15 Dec 2017 --- A new study by campaign group Action on Sugar has revealed the sugar, calorie and caffeine content of energy drinks sold in the UK in 2015 and 2017 – and the results have reignited calls for a ban on sales to children under 16. Published in the BMJ Open by Action on Sugar based at the Queen Mary University of London, the study details how the industry has, to a certain extent reformulated some energy drinks to reduce sugar and caffeine, but the super-sized servings still remain a big problem. 

Business News

Givaudan opens new business solutions center in Kuala Lumpur

15 Dec 2017 --- Givaudan has announced the official opening of its new Givaudan Business Solutions (GBS) delivery center in Kuala Lumpur, Malaysia. The center will be the home to the business services and solutions that will form a platform for the Company's growth in the Asia Pacific region.

Food Ingredients News

New Naturex CSO: “A mere fraction of the plant kingdom’s potential has been explored”

15 Dec 2017 --- Last month, leader in natural specialty ingredients, Naturex announced changes to its senior management team with the appointment of Sarah Martin as its new Chief Scientific Officer (CSO). Martin, who has a wealth of high-level experience in the food science and nutrition industry, joins Naturex’s Executive committee, taking global responsibility for Naturex’s scientific and innovation programs.

Business News

Firmenich expands presence in Africa by acquiring Flavourome

14 Dec 2017 --- Firmenich has announced that it is acquiring Flavourome, an established privately-held flavors company in South Africa that has been successfully serving the local market since 1998. With this acquisition, Firmenich will accelerate business growth in this strategic region by gaining direct access to new customers, while operating its own high performing manufacturing facility in South Africa. 

More Articles