Johan Karlström, the long-serving chief executive of Swedish construction group Skanska, will step down as boss next year after more than 30 years at the company.
Mr Karlström will step down as president and chief executive after Skanska’s next annual general meeting in April, 10 years after he took the top job. He will remain at the company in an advisory role for until January 2019.
Skanska, the world’s fifth-largest construction company, said it plans to announce a new chief executive by the end of the year.
Hans Biörck, Skanska chairman, said:
Johan Karlström has successfully driven the company’s financial and operational synergies, consistently delivered a profitable construction stream and grown the development business with very strong results. Today the development business represents a significant part of the company’s value. Johan is an excellent leader who has been very present in the organisation and mentored and guided many people in their career within Skanska.