Axfood AB: CEO decides to conclude executive career

Stockholm / SE. (axf) Klas Balkow decides to conclude his executive career, and together with Axfood’s Board of Directors it has been agreed that he will leave the role as President and Chief Executive of Sweden’s Axfood AB by year-end 2024 at the latest. He will then be available for Axfood as a strategic advisor. The Board will now initiate the recruitment process of a new President and CEO.

«On behalf of the Board and myself, I want to thank Klas for his tremendous work for Axfood. The development that Klas has created together with his team is truly remarkable. With a clear focus on growth and renewal, and a high pace of development, Axfood has attracted many new customers and considerably increased its market shares. The company has a strong position for continued growth. In particular, I would like to highlight Klas’ inspiring ability to combine strategic and commercial leadership with humanism and empathy. It is however not time for Klas to leave just yet, as he will remain in his role as President and CEO during the remainder of 2024, and I am happy that Klas also thereafter will be available for Axfood in an advisory role,» says Axfood’s Chairman of the Board Mia Brunell Livfors.

Klas Balkow assumed the role of President and CEO of Axfood in 2017.

20240206-AXFOOD-KLAS-BALKOW(Photo: Axfood AB – Jonathan Näckstrand)

«After seven fantastic years with Axfood, and in total 17 years as CEO in publicly listed companies, I have decided to conclude my executive career and spend more time with my family and do other things in life. I am and will continue to be passionate about the development of Axfood. We have an exciting year ahead of us, with many things on our agenda to continue to strengthen our customer offering of affordable, good, and sustainable food for everyone,» says Axfood’s President and CEO Klas Balkow.