Industrivaerden Proposes Sverker Martin-Loef as New Chairman

Industrivaerden AB, the Swedish investment company that owns stakes in Ericsson AB (ERICB) and Volvo AB (VOLVB), proposed that Sverker Martin-Loef succeed Tom Hedelius as board chairman when Hedelius steps down from the post in May.

Hans Larsson will take over Martin-Loef’s position on the board, the company said in its 2009 annual report, which was published on its Web site on Feb. 11.

Martin-Loef has worked on the Industrivaerden board since 2002. He will remain as chairman in Svenska Cellulosa AB (SCAB), Skanska AB (SKAB) and SSAB AB (SSABA) for “at least another year,” Dagens Industri reported today, citing Martin-Loef.

To contact the reporter on this story: Johan Carlstrom in Stockholm at jcarlstrom@bloomberg.net.

To contact the editor responsible for this story: Chris Kirkham at ckirkham@bloomberg.net

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