STOCKHOLM—Hexpol A.B. has appointed Georg Brunstam as president and chief executive officer.
Brunstam, whose new appointment is effective Nov. 20, currently is chairman of the board at the Swedish rubber group. This assignment will end when he assumes his new role.
He previously served as president and CEO of Hexpol from 2007 to 2017.
"During the last two quarters I have, as a daily involved chairman of the board—together with our interim CEO and the whole management team—worked intensively to implement major changes and improvements within the Hexpol Group," Brunstam said.
The changes, he said, "give a better customer focus and a significantly lower cost level, and in addition, the long-term strategy has been strengthened."
Hexpol also appointed Peter Rosen, currently chief financial officer and interim CEO, to deputy CEO.
"Georg and Peter, now on a permanent basis, will continue the work to further improve the development of Hexpol in the short and long term" said Alf Goeransson, a Hexpol board member since 2007 who is proposed to be new chairman of the board.
Mikael Fryklund, Hexpol's previous CEO and president, left the company in February. At the time, Brunstam said that the group had not met the board's expectations in terms of growth for both sales and earnings. The decision to part ways came despite what Brunstam called a number of "well-managed and well-positioned" acquisitions.
Fryklund joined Hexpol in July 2017, having previously headed Trelleborg Industrial Solutions.
