Sandvik Chief Executive: Sandvik Must Become More Flexible
March 14 2012 - 11:45AM
Dow Jones News
Swedish engineering company Sandvik AB (SAND.SK) must become
more flexible and dynamic to cope better with the globalized
market's economic swings, Chief Executive Olof Faxander said
Wednesday.
Following the uncertainties surrounding Greece's sovereign debt
crisis, the global economy now seems to be moving in the right
direction, Faxander said at a seminar in Stockholm.
Faxander singled out the U.S. economy, which he said performed
better than expected in 2011. "Industrially, the U.S. looks very
strong," he said.
However, there are dangers for the global economy, including
potential turmoil in Iran, and companies will need to adapt to
changing market conditions to be successful, Faxander said.
For instance, Sandvik has strived to make its organization
flatter and less hierarchical, he added.
-By Gustav Sandstrom, Dow Jones Newswires; +46 8 545 130 99;
gustav.sandstrom@dowjones.com
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