November 25, 2019 / 9:27 AM / 15 days ago

Swedish asset manager FAM picks Saab's Buskhe as new CEO

STOCKHOLM, Nov 25 (Reuters) - Asset manager FAM AB, which is controlled by the prominent Swedish Wallenberg family, has appointed defence firm Saab’s former chief executive Hakan Buskhe as its CEO, it said on Monday.

Buskhe, who will replace Lars Wedenborn, will take up the position on February 12. He announced his decision to step down as CEO of Saab, maker of the Gripen fighter jet, in August.

“I’m very happy that Hakan Buskhe will be CEO of FAM, and I’m convinced that Hakan’s industrial experience, leadership and technical know-how will contribute to an even stronger FAM in the future,” FAM chairman Marcus Wallenberg said in a statement.

Buskhe had been the CEO of Saab, in which Wallenberg-owned investment firm Investor is the biggest stakeholder, since 2010.

FAM, whose main holdings include SKF, Stora Enso and Munters, is owned by the three largest foundations of the Wallenberg family, and has assets of around 50 billion crowns ($5.2 billion).

Saab in September appointed deputy CEO Micael Johansson as its new chief executive. ($1 = 9.6261 Swedish crowns) (Reporting by Helena Soderpalm; Editing by Jan Harvey)

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