Northvolt CEO Peter Carlsson steps down
Carlsson will take on a role as senior adviser and remain a member of the board. Northvolt has filed for Chapter 11 bankruptcy protection in the United States.
Peter Carlsson is stepping down as CEO of Northvolt, the Swedish EV battery maker, a day after the group filed for US Chapter 11 bankruptcy protection.
“Today marks a significant new phase for Northvolt as well as for me personally. The Chapter 11 filing allows a period during which the company can be reorganized, ramp up operations while honoring customer and supplier commitments, and ultimately position itself for the long-term. That makes it a good time for me to hand over to the next generation of leaders,” the outgoing CEO said in a statement.
Northvolt has filed for Chapter 11 bankruptcy protection in the United States. The company said it only had cash to support operations for about a week and had secured USD 100 million in new financing for the bankruptcy process.
Carlsson will take on a role as senior adviser and remain a member of the board. The company said it was searching for a new CEO.
Peter Carlsson was at the helm of Northvolt since its inception in 2016. He co-founded Northvolt with the mission to drive sustainable energy solutions through the creation of a pioneer in European battery production.
“We are incredibly thankful to Peter for his vision and dedication to building Northvolt from an unprecedented idea to becoming Europe’s battery manufacturing champion,” Northvolt’s Interim Chairman of the Board of Directors, Tom Johnstone, said. “Peter’s perspective will continue to benefit Northvolt, as a Senior Advisor and Member of the Board, while the new leadership will steer the company into the next stage.”
The company leadership will consist of Pia Aaltonen-Forsell, Chief Financial Officer, and Matthias Arleth, the President of Cells, who will now take the role of Chief Operations Officer. Together, and supported by Scott Millar as Chief Restructuring Officer, they will jointly lead Northvolt, according to a media release.
“I am very pleased that the two recent additions to Northvolt’s leadership will jointly lead this next phase of operational improvement, increased customer focus, and financial restructuring,” said Johnstone.”
