HUSQVARNA B

Husqvarna AB on Tuesday reported a rise in third-quarter operating profit and announced the closure of a Swedish factory, a move its new chief executive said accelerates a transition to a more "asset-light" business model.

Husqvarna AB said Tuesday it will close a factory in Sweden and cut 84 jobs, the latest move by its new chief executive to streamline operations and improve profitability.

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.

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.