STOCKHOLM—Nynas A.B. President and CEO Bo Askvik has stepped down from his position after eight years with the company.
The Swedish refiner has appointed Stein Ivar Bye as the interim CEO, Nynas said in a May 2 news release.
During his term as the company's leader, Askvik led Nynas through sanctions, COVID-19, a year-long reorganization and a refinancing process.
"Now is the right time for me to hand over the responsibility of leading Nynas," Askvik said.
"With the reorganization finally completed in January and the refinancing concluded in April, Nynas will now start a journey of change to become an even stronger company," he added.
Askvik will remain as the chairman of the Nynas Foundation "Nynaesstiftelsen," a shareholder in Nynas.
Nynas' board has commenced the search for a new CEO and appointed Stein Ivar Bye, who was recently appointed as chairman of the board, as interim CEO.
Stein has previously held executive positions in ExxonMobil, has served as the COO of petroleum company Preem A.B. and CEO of Essar Oil U.K. He has been a member of the Nynas board since August 2021.
