• Push-out Score determined
• After around 10 years in the position
• Accolades, praise, thanks and words of regret for Gustafson
• Search for a successor
• Gustafson said 122 words

(exechange) — Stockholm, Sweden, January 11, 2021 — Rickard Gustafson, chief executive of SAS, leaves. As announced by SAS AB in a news release on Monday, January 11, 2021, Rickard Gustafson, chief executive officer, leaves Scandinavia’s leading airline after around 10 years in the role, effective July 1, 2021, at the latest.

SAS will undertake a search for a successor.

Career change

Rickard Gustafson’s departure from the CEO post is explained as follows. Gustafson said: “After ten intense and stimulating years, the time has come for me to pass on the baton to the next CEO of SAS during the first half of 2021, as I have accepted an opportunity to join one of Sweden’s largest industrial groups.”

Gustafson will be CEO at SKF

“The Board of AB SKF has appointed Rickard Gustafson as new President and CEO. Rickard Gustafson will succeed Alrik Danielson and join SKF during the first half of 2021,” SKF said.

SKF announced the move on Tuesday, January 12, 2021.

SKF is a Swedish bearing and seal manufacturing company.

“Leave”

SAS said: “The President and CEO of SAS, Rickard Gustafson, has decided to leave SAS after 10 years. He will leave the company, at the latest, first of July 2021.”

Share price decline since January 2020

The announcement follows a decline in SAS AB’s share price of 89% since January 2020.

Chaired by Carsten Dilling

Carsten Dilling serves as SAS AB’s Chairman.

Dilling serves as Chairman of the Board of SAS AB since 2018.

In the position of CEO since 2011

Rickard Gustafson became CEO of the Company in 2011.

His bio reads as follows:

• Rickard Gustafson, born 1964
• President & CEO. Member of SAS Group Management from February 1, 2011.
• Previously, various executive positions in GE Capital, both in Europe and the US, and President of Codan/Trygg-Hansa from 2006–2011.
• External directorships: Chairman of Aleris, board member of FAM AB and Telia AB.
• Education: Master of Science, Industrial Economics.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Rickard Gustafson’s move on a scale of 0 to 10.

exechange reached out to SAS and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 3.2021 ($).