Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Mats Backman is currently Vice President Finance, IT and Business Development for the business area Sandvik Machining Solutions. He has held leading positions at Sandvik since 2007 and previously held leading positions with Outokumpu, Nordea and Boliden.
“Mats Backman has extensive experience from relevant industries and companies. With this strong background and experience base, he is a highly suitable person to continue the work to take our finance function forward. He will also take a leading role in driving the further progress of the Sandvik Group in general”, says Olof Faxander, President and CEO of Sandvik.
Mats Backman will succeed Emil Nilsson, who has decided to pursue other opportunities outside Sandvik.
“I would like to thank Emil Nilsson for his valuable contributions as CFO and for initiating further improvements within our global finance processes. I wish him all the best in his future career”, says Olof Faxander.
Stockholm, 6 September 2013
Sandvik AB
