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Autoliv announces leadership changes ahead of electronics biz spinoff

Autoliv Inc. on March 22 disclosed leadership changes before the planned spinoff of its electronics division, which will be called Veoneer Inc.

The automotive safety systems maker announced Feb. 19 that the spinoff was in the works, and expects to complete the process in the third quarter of 2018. Veoneer will be a supplier of advanced driver assistance systems as well as safety electronics, sensors and software for car companies.

Autoliv Chairman, President and CEO Jan Carlson will become the CEO of Veoneer once the spinoff is complete. He will head the Veoneer business segment starting April 1 and will continue in his current Autoliv post until the completion.

Carlson will then be succeeded by Mikael Bratt as Autoliv CEO. Until then, he will remain president of the company's passive safety segment.

Meanwhile, Autoliv CFO Mats Backman will continue in his role in the company even after he becomes Veoneer's CFO beginning April 1. Johan Löfvenholm, president of Autoliv's electronics division, will become Veoneer's COO.

The Swedish company said it will announce the members of the Autoliv and Veoneer board of directors after once the spinoff is completed.