Kristina Sundin Jonsson
SUMMARY at 14:45:
Peter Carlsson today informed staff that he is stepping down as CEO effective immediately.
– I am stepping down as CEO today, he announced at a staff meeting.
Carlsson explained that it's time for a change in leadership.
– This has been my life for the past eight years. It's been a fantastic journey leading this company and watching you all grow. The incredible things we've developed together are truly amazing.
Reaction
UPDATE: 14:20
"Battery production will continue here"
Regarding the restructuring, city manager, Kristina Sundin Jonsson said
– I believe this was the right course of action. It's a way to stabilize the situation. While we don't know the exact outcome, chapter 11 provides funding for a few months, which would otherwise be impossible.
When asked about her thoughts on the recent developments, she responded:
– Skellefteå has a history of ups and downs. Our focus remains on addressing challenges as they arise. Right now, our priority is supporting those who've lost their jobs, working together with other stakeholders. We must adapt to the situation and be quick to respond, which has always been our approach.
When asked about the performance of municipal officials and politicians in Skellefteå, she said:
Yes, the response has been good. We've been adaptable and quick to respond. This agility and our ability to collaborate with others has been, and will continue to be, beneficial. I want to commend everyone involved.
Regarding Peter Carlsson's departure, she said:
– I can't comment beyond saying that it's an agreement between him and the board. However, he and others were instrumental in bringing battery production to the region. He's made a significant contribution, and that work will continue.
When asked about the future of the factory, she expressed confidence, saying:
– I'm convinced that the factory will remain. It's a matter of national and international interest, and battery production will continue here.
UPDATE: 13:40
"We must have battery factory here"
– There are no other options than that we have a battery factory here. It's about more than just Skellefteå; if the factory ceases, Europe will fall behind in battery production, said Lorents Burman, mayor of Skellefteå.
– We must seize the opportunity that exists, as the window for the green transition is still open. I believe the Swedish government, and other European governments, should give serious consideration to our current geopolitical situation.
Press conference
"Northvolt still has a large and important role to play in the green transition"
– I realize there's a lot of interest, which reflects the importance of Northvolt in driving the green transition, says Carlsson as he concludes the press conference.
– We're entering a new chapter with this restructuring, which will significantly impact the company's future. A stronger capital structure and balance sheet will enable the new management team to successfully lead the company forward. It's crucial.
– There are many questions about the speed of the green transition and Europe's role. It's essential to keep pushing forward. We'll regret it in 20 years if we don't accelerate the transition and create a strong European market with strong European champions. Northvolt has a significant role to play in this future scenario.
UPDATE: 11:55
– Why didn't we solve the financing sooner? It was an incredibly complicated game to get bridging financing between different stakeholders. We finally had to give up on that attempt.
Carlsson goes on to say that chapter 11 is the way forward.
"Employees have been fantastic"
– I can say that we're in a significantly safer place today than yesterday, Carlsson responded when asked if the 2,600 employees in Skellefteå should be worried about their jobs.
– The step (chapter 11) we took last night means our employees are significantly more secure than before.
– It's crucial that we continue this process. The better we perform, the more secure their long-term future will be. I must also acknowledge the fantastic way our employees have handled this difficult situation. Many people have stepped up to show leadership and support the company. This demonstrates the incredible spirit within the company, which is vital for its future.
UPDATE: 11:50
"We can compete with Asian manufacturers in the long run"
Carlsson was asked about the production problems at the Skellefteå factory.
–The challenge isn't a production problem; it's the inherent difficulty of starting up a new facility. The reason customers like our products is that they're advanced, operating at a higher level than our Asian competitors. However, this advanced technology also makes production more complex. When you start with new products, build a new factory, and hire new employees, you're taking on a significant challenge. Everything, from the workforce to the machinery, needs to work seamlessly within tight process windows. Acquiring the necessary machinery has taken longer than anticipated.
– That said, the line supplying Scania is already 60-70% more efficient than last summer. It's a continuous improvement process that takes time. Ultimately, I have no doubt that we can compete with Asian manufacturers in the long run.
UPDATE: 11:35
"Everyone will get their wages"
– We have significantly more than 1,800 employees in Skellefteå. That's 2,600. In total, we have over 5,000 employees in the company, Carlsson said when asked if the 1,800 employees in Skellefteå would receive their wages during a Chapter 11 process, which doesn't include a wage guarantee.
– Everyone gets their wages.
"I haven't been fired"
– No, for one thing, I haven't been fired, Carlsson responded when asked if he would be terminated as CEO and receive severance pay.
– I'm in consultation with the board, and the past year has been incredibly demanding for me personally.
– When there's so much media attention focused on me, it starts to impact my family and others. This transition will allow a smooth handover to new leadership and shift the focus back to the company. I haven't received a specific severance package.
UPDATE: 11:25
–There are a number of reasons, we’ve discussed it many times, Carlsson commented on the challenges faced at the Skellefteå factory.
– What’s important to emphasise about Skellefteå is that we set an ambitious goal of reaching 100,000 units earlier this year, known as ‘Path to 100k.’ However, during the restructuring process, we had to reduce our workforce by 25%. This led us to focus on our core lines and deliveries, particularly for Scania. They’re satisfied, and we’ve stabilized our delivery capability.
It will take some time to ramp up to full production, but it’s an ongoing process. Despite the workforce reduction, our dedicated team has stepped up and maintained an incredible focus on customer deliveries.
– Scania’s decision to provide significant financing is a testament to the quality of our product.
UPDATE: 11:05
Carlsson was asked what he would say to those who believed in his vision and might be affected by this change. He responded:
– First and foremost, this was necessary to capitalise and drive the company forward. Essentially, Northvolt is crucial for both our customers and for Europe's green transition. The recapitalisation allows us to emerge from this process with a simpler capital structure.
– Of course, as part of this process, write-downs will be necessary. Some have already occurred, and others will happen within this process. It's a combination of factors that has led us to this point, and ultimately, I take responsibility for our current situation.
– It's an emotional day, says Carlsson, but he expresses confidence in the new leadership.
– We have a very strong management team that we built over many years, which we further strengthened this year with Pia as CFO and Matthias as COO, he says.
He adds that the process to recruit a new CEO is already underway.
– It's incredibly emotional after eight years of living and working around the clock with this company and these fantastic employees, in Västerås, Skellefteå, Poland, Stockholm, Germany, and Canada.
UPDATE: 10:40
Lorents Burman, Skellefteå mayor, commented on Peter Carlsson's resignation as CEO of Northvolt:
– This is a decision that Peter Carlsson has carefully considered and arrived at. It's clear that he's been working tirelessly for eight years, often beyond human capacity.
– He can best explain his reasons for leaving, but it's likely that the intense pace and demands of the past eight years have led him to this decision.
UPDATE: 10:05
Peter Carlsson has informed staff that he is stepping down as CEO effective immediately.
– I am stepping down as CEO today, he announced at a general meeting.
Carlsson explained that it's time for a change in leadership.
– This has been my life for the past eight years. It's been a fantastic journey leading this company and watching you all grow. The incredible things we've developed together are truly amazing.
UPDATE: 09:50
Northvolt's CEO, Peter Carlsson, is stepping down from his role with immiediate effect and transitioning to a senior advisor position. He will continue to serve as a member of Northvolt’s board of directors.
"Today marks the beginning of a new and important phase for both Northvolt and myself," said Carlsson in a press release. "Chapter 11 allows the company to continue scaling operations while meeting our commitments to customers and suppliers. Ultimately, this is about positioning Northvolt for long-term success. I believe this is a good opportunity to hand over the reins to the next generation of leaders."
Rumours
UPDATE: 07:20
According to Dagens Industri (Di), Peter Carlsson is poised to resign as CEO of Northvolt. The official announcement is expected in the coming days.
This news comes shortly after Northvolt filed for chapter 11 bankruptcy in the United States. Notably, Peter Carlsson was not mentioned in the press release announcing the bankruptcy filing. Instead, interim chairman Tom Johnstone addressed the public.
When asked about Carlsson's absence from the announcement, Northvolt's press spokesperson Erik Zsiga explained to Di:
– The board made this decision, and we chose to proceed in this manner. Peter could have just as easily been the one to speak.
Earlier this week, Norran reported that Carlsson had sent an internal message to Northvolt employees, informing them about the chapter 11 filing and explaining that it would allow the company to restructure in a controlled manner. A larger meeting is scheduled for Friday to provide employees with more details.
In addition to his potential departure as CEO, Carlsson recently resigned as chairman of Northvolt Ett, the subsidiary overseeing the Skellefteå factory.
Peter Carlsson, vd på Northvolt.