In a bid towards becoming more growth focused and profitable, SKF has presented new strategic framework, including a decentralised operating model.

The company plans on investing in industries and products with high potential, where SKF can add significant customer value and establishing a decentralised operating model with full end-to-end customer and financial accountability. It is keen on enhancing strategic flexibility by creating an autonomous automotive business and refocusing it on areas where SKF has a competitive edge.

Rickard Gustafson, President and CEO of SKF said, “These concepts will guide us as we embark on an exciting journey to become a more focused, innovative, and profitable industrial player. By 2030, we will strive to grow faster and double the business, at improved margins, be more focused and efficient, be the technical partner of choice among our customers.”

The company believes that these concepts will guide it on embarking on an exciting journey to become a more focused and innovative industrial player.