Jörgen Rosengren, Bufab CEO and President, has given the Board notice that he intends to leave the company for a similar role in another industry.
He will remain in the role until September 2021 at the latest and work on recruiting a successor has begun.
Rosengren's tenure has seen the Group through a significant period of expansion, explained theBufab board:
"Since its IPO in 2014, Bufab has shown strong profitable growth and developed into a leading company in its industry," said Bengt Liljedahl, Chairman of the Board.
"Through investment in new customer solutions, international expansion, efficiency and acquisitions, the company has strengthened its market position and global presence. Turnover and profit have more than doubled. The company now has a strong base for further growth. I would like to thank Jörgen for his efforts for Bufab and for the good results he and Bufab's management and whole team have achieved. The Board regrets that Jörgen has decided to leave Bufab but at the same time respects his decision. On behalf of the Board of Directors, I wish him success in future endeavours. The Board and Bufab's management are now focusing on continued profitable growth while recruiting a new CEO."
Outgoing Bufab CEO Jörgen Rosengren added: "After nine exciting and developmental years with Bufab, it is with very mixed feelings that I have made the decision to move on. But Bufab has a very good board and management, a strong ownership structure, stable customer relationships, as well as good growth, profitability and financial position. I am convinced that Bufab will continue its successful development in the future."
Earlier this year, Bufab signed the international Science-Based Targets Initiative (SBTi), committing to further reduce global greenhouse gas emissions. The Group has committed to set targets that are aligned with the Paris Agreement.