Scania’s Board of Directors expresses confidence in CEO Leif Östling
With reference to media’s extensive coverage of Leif Östling’s recent sales of stock options, the Scania Board of Directors makes the following statement.
Leif Östling, President and CEO, is a highly competent and capable leader with a broad and deep knowledge of the commercial vehicle industry. This has contributed substantially to the success of Scania’s business during his ten years as head of Scania.
The Board regrets the timing of his recent sale of options which was badly chosen. Although the Board appreciates that Leif Östling afterwards donated the profit from the sale to a Scania personnel foundation, this does not change the Board’s misgivings about the sale.
Nevertheless the Board of Directors emphasizes that the recent sale of options has not affected its confidence in Mr. Östling.