Swedish power-tool maker Husqvarna AB said it has appointed Glen Instone as its new chief executive, replacing Pavel Hajman ahead of a planned strategy update.
Mr. Instone, currently the president of the company's Forest and Garden Division, will take over on Aug. 11, the company said Thursday.
The leadership change comes as the company prepares for its next strategic phase.
"We are entering the next strategy phase where Glen is playing a central role in shaping our updated strategy, which will be presented during a Capital Markets Day in December,” Chairman Torbjörn Lööf said in a separate statement.
Mr. Hajman, who was appointed CEO in mid-2023, will leave the group by the end of the year, the company said.
The announcement was made as Husqvarna reported that second-quarter organic sales grew 5% from a year earlier.
Net sales for the quarter fell 1% to 15.3 billion Swedish kronor, impacted by currency changes, while operating income rose to 2.1 billion kronor from 1.9 billion kronor.
The company said it continues to face uncertainty from geopolitical instability and currency fluctuations, particularly in North American markets.
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Swedish power-tool maker Husqvarna AB said Thursday it has appointed Glen Instone as its new chief executive, replacing Pavel Hajman ahead of a planned strategy update later this year.