Northvolt CEO steps down

Posted November 22, 2024 8:58 am.

Last Updated November 22, 2024 9:39 am.

The CEO and co-founder of electric battery company Northvolt, Peter Carlsson, is stepping down. He had been at the helm of the company since its inception in 2016.

According to a statement published Friday on the Swedish company’s website, Carlsson will remain a senior advisor and board member during the transition period ahead.

Northvolt says it is entering “a new phase of sustainable growth and restructuring” in order to focus on “operational improvements and customer support.”

Commenting on his departure, Carlsson wrote in the release that this was a new phase, both for the company and for him. He added that filing for bankruptcy would enable the company “to reorganize, to intensify its operations while honoring commitments to customers and suppliers, and finally to position itself for the long term. So it’s the right time for me to pass the baton to the next generation of leaders.”

The previous day, the company had announced that it had filed for bankruptcy protection. However, the company specified that this process would not jeopardize the battery manufacturer’s project in Quebec. “Northvolt North America is not included in the filing,” reads a press release sent by the company to the media.

Northvolt’s interim chairman, Tom Johnstone, said the company was extremely grateful to Peter Carlsson “for his vision and dedication to making Northvolt an unprecedented idea and Europe’s champion battery manufacturer.”

The new management is to focus on sustainable growth, operational efficiency and innovation, according to the company’s press release. Northvolt specifies that these management changes are effective immediately.

–This report by La Presse Canadienne was translated by CityNews