Sandvik names new head of IR

Global engineering group Sandvik has promoted Ann-Sofie Nordh to serve as its new head of investor relations, taking over from company veteran and vice president of IR of nearly three years Magnus Larsson.

Ann-Sofie Nordh, Sandvik's new head of IR

Nordh, who joined Sandvik in early 2014, will take up her new position on November 1 as Larsson moves to lead business development projects at the Stockholm-headquartered company, where he will continue to report to CFO Mats Backman.

A former analyst boasting 20 years’ experience in the financial markets – including sell-side and buy-side roles – Nordh was previously with Nordea, were she served as a senior analyst covering Swedish capital goods, and most recently as head of equities corporate services for Nordea markets. Prior to this she spent nine years at Scandinavian asset manager Alfred Berg, now part of BNP Paribas Investment Partners, working as an analyst focusing on Swedish industry groups.

Nordh will lead the IR program at a firm founded in 1862, which now employs approximately 47,000 people across 130 countries in five business areas covering mining, machining, materials, construction and Sandvik Venture, which aims to ‘create the best possible environment for growth and profitability in attractive and fast-growing operations’.

The Swedish blue chip, which is included in the FTSE4Good Index Series that measures ESG performance practices in international companies, is listed on NASDAQ OMX Stockholm, as well as running an ADR program. After Sweden, where 70 percent of Sandvik’s shares are held, the US represents the next highest shareholding at 11.9 percent, followed by the UK at 9.3 percent.