January 13, 2020 / 5:37 PM / 5 days ago

Group veteran Henric Andersson appointed CEO of power tools maker Husqvarna

STOCKHOLM (Reuters) - Husqvarna (HUSQb.ST), the world’s biggest maker of gardening power tools, said on Monday its board had appointed company veteran Henric Andersson as chief executive.

Andersson will take over from Kai Warn, who has been CEO since 2013, in April, with Warn continuing as a senior advisor to the board during 2020.

Husqvarna is the global leader in robotic lawn mowers, garden watering systems and garden tractors, and no.2 in trimmers and chainsaws.

Andersson, currently head of Husqvarna’s construction division, has worked at the company for 22 years and been a member of group management for eight years.

“We are entering the next phase of development for the group, building on the foundation developed over the last few years,” chairman Tom Johnstone said, adding that Andersson had played a key role in developing group strategy.

The rival to Deere & Company, Black & Decker (SWK.N), Honda Motor (7267.T) and Fiskars (FSKRS.HE), has sold some unprofitable businesses recently, and in November flagged more cost cuts and exits in 2020.

Husqvarna swung to a profit in the third quarter of last year, as the restructuring and efficiency measures helped it get back on track after a tough 2018, although weakened demand in North America hit sales.

The group, which has seen growing demand for its robotic lawn mowers and battery-driven products, especially in Europe, is due to report full-year results on Feb. 4.

The news of Andersson’s appointment came shortly before the stock market close in Stockholm, but had little effect on the company’s shares.

Reporting by Anna Ringstrom; Editing by Kirsten Donovan

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