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| Magnus Yngen leaves Husqvarna - search for a new CEO initiated The Board of Directors and Magnus Yngen have agreed that Husqvarna is better served by a new CEO and President following Magnus Yngen's leave of absence. Consequently the Board of Directors have given notice to terminate Magnus Yngen's contract. Magnus Yngen has also resigned from his position as a member of the Board. According to the employment contract, Magnus Yngen has a notice period for termination of 12 months on the part of the Company. He is also entitled to severance pay, corresponding to 12 monthly base salaries with deduction for any other income. The search for a new CEO and President has been initiated and will cover both internal and external candidates. On June 9, 2011 Hans Linnarson was appointed acting CEO and President. Hans Linnarson remains in these positions until a new CEO and President has been appointed. Hans Linnarson is Executive Vice President, Head of Sales Europe & Asia/Pacific since 2006 and will remain in this position as well. The Husqvarna Group is the world's largest producer of outdoor power products including chainsaws, trimmers, lawn mowers and garden tractors. The Group is also the European leader in consumer watering products and one of the world leaders in cutting equipment and diamond tools for the construction and stone industries. write your comments about the article :: © 2011 Construction News :: home page |