SWEDEN – Swedish multinational supplier of Industrial pumps and compressed air solutions Atlas Copco has announced that its President and CEO Mats Rahmström will leave to pursue other interests outside the group.
“After 35 years with the Group, and almost seven years as CEO, Mats Rahmström has informed the Board of Directors of Atlas Copco AB that he wishes to step down,” the Nacka, Sweden based company said.
Mats Rahmström will leave Atlas Copco and its Board, April 30th 2024. In the meantime, he will continue with his work as CEO as the company looks for the right successor.
“Mats has, through his dedication and leadership, played a very important role in successfully developing Atlas Copco Group and take it to its current strong position,” said Hans Stråberg, Chairman of the Board.
“Mats really embodies the Group’s values and during his tenure as CEO, we’ve seen impressive growth and financial results. The company is well positioned to continue to create value for shareholders as well as customers, and I have very much appreciated working with Mats.”
Matts exits closely follows the recent unveiling of a new corporate identity by Atlas Copco which is aimed at better showcasing the group’s contribution to society.
The new identity includes a new Group logo, a new visual identity, and a new Group message: Technology that transforms the future.
The company which is known for its superior quality air compressors, noted that the current blue and white Atlas Copco brand and logo will continue to be used on products and services, in the same way as other brands in the Group use their respective logos.
This includes around 50 brands such as Edwards, Isra, Leybold, LEWA and Chicago Pneumatic, which all have their distinct identity and unique value proposition.
“I’m extremely grateful to have had the privilege to spend almost all of my career so far in this amazing company, so it has not been an easy decision,” said Mats Rahmström.
“I believe that this is a good time to initiate the process to find a new CEO. I plan to continue to work after I leave the Group, but will focus on board work and industrial advisory roles going forward. I’m far too curious not to continue to challenge myself.”