SWEDEN – SKF, a world-leading provider of innovative solutions, has announced a series of changes in the groups management as it seeks to accelerate strategic transformation and profitable growth. 

Manish Bhatganar, who is the current president of Industrial Region India and Southeast Asia (ISEA) has been appointed as the new president for Industrial Region Americas effective immediately. 

As a consequence, Fredrik Hallen, Director Finance, Controlling, IT & Digitalization in Industrial Region ISEA, will take interim charge as President for the ISEA region. 

According to the company, a permanent successor is expected to be in place during the spring. 

Rickard Gustafson, President and CEO of SKF said, ”In times of transformation, adding new perspectives is sometimes necessary. Americas and ISEA have accomplished a lot, but with new leadership in both regions, we aim to find new opportunities and to become even more competitive and increase speed in our journey,” 

SKF also announced that John Schmidt, current president of Industrial Region Americas, will retire from his role to continue his career outside SKF. 

Schmidt will however remain in an advisory role during the transition period according to the company statement. 

“On behalf of SKF, I would like to thank John for his valuable contribution during many years of employment and I wish him all the best in the future. I also take the opportunity to welcome Manish to his new role,” said Rickard. 

SKF recognized with ‘A’ score from CDP 

Concurrently, SKF has received an ‘A’, the top Climate Change rating available from CDP, the global non-profit that runs the world’s largest climate and environmental disclosure system for companies, cities, states, and regions. 

Based on data reported to CDP, SKF is one of only 346 companies out of over 21,000 assessed to achieve an ‘A’ score and as a result is listed on CDP’s ‘A-List’ of companies leading the way in environmental transparency and performance on climate change. 

Sherry Madera, CEO of CDP said, “It is only by laying the groundwork of disclosure that companies can show they are serious about the vital part they play in securing a net-zero, nature-positive future. Earning a place on the A List is about more than the score.” 

“We are proud to have received an A rating from CDP and it is reflective of the commitment we have for reducing climate impact, both in our own operations and in the entire value chain,” said Magnus Rosén, Head of Sustainability at SKF.   

SKF has committed to decarbonizing all its operations by 2030 and to have a supply chain with net zero greenhouse gas emissions by 2050.  

Work to reduce scope 1 and 2 emissions at SKF delivered an absolute year-on-year reduction of 15% in 2022 and SKF is on track to deliver on its 2030 target. 

Meanwhile, the share of renewable electricity used at SKF facilities increased from 40% in 2020 to more than 50% in 2022. 

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