ASSA ABLOY Names New President & CEO, Replacing Johan Molin

Nico Delvaux will assume leadership of ASSA ABLOY, effective June 18, 2018. Molin’s tenure with the company ends after serving 12 years.

STOCKHOLM — The Board of Directors of ASSA ABLOY have appointed Nico Delvaux as the company’s president and CEO, effective June 18, 2018, at the latest.

Delvaux, a Belgian citizen, will replace Johan Molin, who will leave his position after 12 years serving as CEO of ASSA ABLOY.

“With Nico Delvaux, we have found a strong and experienced leader of large global businesses with a strong track record. He has managed complex and decentralized organizations and he has strong focus on innovation,” says Lars Renström, chairman of the board.

Delvaux is currently president and CEO of Finland-based Metso Corp., a global industrial company that provides products ranging from mining and aggregates processing equipment and systems to industrial valves and controls. He formerly held management positions for more than two decades in the Atlas Copco Group, including president of its Compressor Technique Business Area.

Delvaux, 51, is a Belgian citizen. He has a M.Sc. in Engineering from Free University of Brussels and an MBA from Handelshogeschool, Antwerp, Belgium.

In an announcement, Renström thanked Molin for “the extraordinary development” the company experienced during his tenure as CEO. Under his leadership, the company “clearly strengthened its customer offering and increased its market share,” Renström says. “The Group’s global market presence, high innovation rate and good cost control position ASSA ABLOY well for long-term profitable growth.”

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