• Sweden edition
 
Nordström proposed as new Vattenfall boss

Nordström proposed as new Vattenfall boss

Published: 20 May 2011 16:47 GMT+02:00
Updated: 20 May 2011 16:47 GMT+02:00

Former post office head Lars G Nordström has been proposed as the new Vattenfall head, when the company elects its third chairman in as many years.

“I look forward to joining the company’s Board, management and employees in contributing to ensure that Vattenfall yields good returns and remains a leader in moving developments towards environmentally sustainable energy generation”, Nordström said in a statement on Friday.

According to Vattenfall, Lars G Nordström has extensive experience of executive positions in several sectors with a focus on the financial industry.

He was President and CEO of the Nordea bank from 2002 to 2007. He has been a director of Nordea since 2003.

From 2008 to 2011 Lars G Nordström was CEO and President of Posten Norden AB. He was also a director of TeliaSonera AB between 2004 and 2010.

“On the basis of my many years of experience in directing large companies I look forward to the opportunity of running Vattenfall together with CEO Oystein Loseth.” Nordström said.

The government has nominated Björn Savén as Vice-Chairman of the Board. He has been acting Chairman of the Board of Vattenfall since March.

However, Nordström’s two predecessors at Vattenfall were fired.

Lars Westerberg, the latest to go, left after it became known that he had approved a massive severance package to CEO Lars G Josefsson.

In order not to suffer the same fate, Nordström will have to conform to regulations.

“I will of course follow the guidelines, regulations and directives we have,“ he said to daily Dagens Nyheter (DN).

According to news agency TT, minister for financial markets, Peter Norman, says that the choice fell on Nordström due to his “eminent experience” and personal competencies.

Norman and the government are hoping that Nordström will prove a driving force towards a more sustainable energy development.

“And that will be no easy task for the board,” Norman told DN.

Nordström's election will be carried out at an extraordinary meeting planned for June 14th.

TT/Rebecca Martin (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

21:12 May 20, 2011 by Great Scott
So here is the next nob lining up for his tax funded super pay off.
12:09 May 22, 2011 by jackityjack
this would have been a much better candidate if the really wanted someone who would lead them in a sustainable direction http://www.greenpeace.org/sweden/se/agera/Agera-online/martina-till-vattenfall/#fakta
Today's headlines
PM pleads ignorance of Vattenfall's Nuon bid
Fredrik Reinfeldt answers the constitutional affairs committee's questions. Photo: TT

PM pleads ignorance of Vattenfall's Nuon bid

Sweden's prime minister on Thursday said Vattenfall itself, not its owners the Swedish state, had responsibility for the loss-making Nuon deal. READ () »

'Kockums submarine raid may be illegal': lawyer
Photo: TT

'Kockums submarine raid may be illegal': lawyer

A Swedish lawyer says the Swedish military may have broken the law when it raided the Malmö premises of German defence giant Thyssen Krupp. READ () »

Good weather could blight Easter traffic
Easter traffic two years ago on the E4 motorway. File: Jessica Gow/TT

Good weather could blight Easter traffic

Traffic experts have cautioned Swedes heading to the countryside for what should be a sunny Easter, warning that the most serious accidents often take place when the weather is clement. READ () »

Saab offers Gripen lease to Malaysia
Jas Gripen jets in flight. File photo: TT

Saab offers Gripen lease to Malaysia

Swedish defence giant Saab has offered to rent out fighter jets to Malaysia. READ () »

What's On in Sweden

What's On in Sweden

Check out what's happening with The Local's guide to the main attractions and events in Stockholm, Gothenburg and Malmö - in association with DoToday. READ () »

Ica pulls contested Easter commercial off TV
Grossed out Ica woman at Easter dinner. Screengrab from Ica

Ica pulls contested Easter commercial off TV

A Swedish supermarket has decided to withdraw its Easter commercial, after Christians complained it made a mockery of communion - "They crossed the line." Sweden's advertising watchdog will now look into the case. READ () »

Dismemberment killer gets sentence cut
The search and rescue operation in northern Sweden. File photo: TT

Dismemberment killer gets sentence cut

The 22-year-old man convicted of murdering his ex-girlfriend in northern Sweden had his sentence reduced on Wednesday, in part due to his "peculiar personality". READ () »

School gas leak sends 25 to hospital

School gas leak sends 25 to hospital

An elementary school in southern Sweden was evacuated on Wednesday and dozens of pupils were taken to hospital after the smell of gas spread through the rooms. READ () »

Swedes vote for country's nicest cock
The Flymen Church weathercock in all its newly gilded glory. Photo: TT

Swedes vote for country's nicest cock

A Swedish churchwarden has reacted with joy upon finding out the parish has Sweden's nicest weathercock. READ () »

Greens push rich tax to finance schools
Per Bolund of The Greens. File photo: TT

Greens push rich tax to finance schools

Sweden's third largest party The Greens revealed its shadow budget on Wednesday, targeting schools and youth employment. High earners would have to pitch in more. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
finest.se
Gallery
People-watching April 16
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
Advertisement:
TT
Politics
Swedes to give six-hour workday a go
TT
Society
Aussie choir member wows Abba in Sweden
YouTube
Society
Stockholm magic a surprise YouTube hit
Fastighetsbyrån
Society
Gallery: The Local's Property of the Week
Private
Society
Swedes find 200-year-old gravestone in living room
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Deepti Vashisht
Features
Deepti Vashisht dissects the magic of Sweden's personal ID number
Shutterstock
Society
Ten signs you've been in Sweden too long
Society
Jimi Fritze heard every word when doctors discussed taking his organs
Society
A Swedish farmer explains why the new bestiality ban is 'pointless'
Society
'Blondes have more brains': Swedish study
TT
Society
VIDEO: Leaked 'Save Slussen' film goes viral
ESL
Sponsored Article
Learning Swedish the easy way
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

741
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com