The Board of Directors of Cavotec SA has awarded the title of Honorary Chairman to out-going Chairman of the Board, Stefan Widegren, in recognition of his defining role in the development of Cavotec into a global engineering group.
"Ever since co-founding Cavotec in 1974, Stefan has been instrumental to the growth and indeed character of the Group. With this title, the Board signals its enormous gratitude for his extraordinary contribution," says Cavotec Chairman Patrik Tigerschiöld.
Widegren became Honorary Chairman on April 12, 2018 when he stepped down as Chairman and Non-Executive Director in connection with Cavotec's Annual General Meeting, where Tigerschiöld was elected Chairman of the Board.
Since establishing Cavotec with Lars Hellman and Peter Brandel, Widegren has held a variety of senior management positions including CEO and Chairman of the Board. He has overseen Cavotec's transformation from a local equipment supplier into a key partner that develops innovative solutions for a wide variety of industrial sectors worldwide.
"I'd like to warmly thank the Board for this honour, and I wish the Board and the management every success as the Group continues to grow in the years ahead," says Widegren.
Honorary Chairman is an honorific and ceremonial title. It confers no formal or legal position within the management of the company or its Board of Directors.
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Cavotec is a leading engineering group that designs and manufactures automated connection and electrification systems for ports, airports and industrial applications worldwide. Cavotec innovative technologies ensure safe, efficient and sustainable operations. To find out more about Cavotec, visit our website at cavotec.com.
The information in this release is subject to the disclosure requirements of Cavotec SA under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on 13 April 2018, 10:30 CEST