After close to 38 years in the company, Tom Johnstone has decided to step down as President and CEO of SKF, a position he has held for the past 12 years. Alrik Danielson, a former SKF employee now returning to the Group, will succeed Johnstone, starting 1 January 2015.

Danielson held a number of managerial positions within SKF between 1987 and 2005. He then left SKF to become President and CEO of Höganäs AB, a Swedish company with a core competence in metal powder technology and production and sales units around the world.