Under his current contract with Sandvik, Mr Peter Gossas president of Sandvik Materials Technology will retire at the age of 62. Accordingly, he will leave the Sandvik Group on May 31st 2011.

Mr Jonas Gustavsson, currently president of the Wire and Heating Technology product area within Sandvik Materials Technology, has been appointed the new president of the business area effective May 1st 2011. As of the same date, he will be a member of Sandvik's Group Executive Management.

Mr Jonas Gustavsson has solid industry experience from senior positions within and outside Sandvik. He was previously GM of the Tube operations within Sandvik Materials Technology in Sweden and also held the position of Vice President Operations at Bombardier Recreational Products in Austria. Prior to this, he occupied several senior positions in ABB.

Mr Olof Faxander president & CEO of Sandvik AB said that "With his broad background and proven ability to successfully drive change, Mr Jonas Gustavsson has the right profile to lead Sandvik Materials Technology. He brings with him experience from two different product areas within the business area and has made an exceptional contribution to the development of Wire and Heating Technology over the past two years."

He added that "At the same time, I would like to thank Mr Peter Gossas, whose strong and committed leadership during his nine years as President of Sandvik Materials Technology has, among other achievements, resulted in a specialization of the product program toward increasingly high value-added products, improved manufacturing processes and a clearly higher pace in product development."