By Dominic Chopping

STOCKHOLM--Investor AB Chief Executive Johan Forssell will step down from his position in conjunction with the annual general meeting on May 7, the company said Friday.

Through a consultancy agreement, Forssell will transition to a new role that will see him assigned to Investor as an industrial advisor with a focus on industrial companies, working with board assignments and also working in close collaboration with Investor's business teams.

Forssell has spent nearly 30 years at Investor, with close to nine years as CEO. He is currently a director at Atlas Copco, Epiroc, Wartsila and EQT and will also be engaged by Wallenberg Investments as an industrial advisor.

The Investor board will now begin the recruitment process for his successor, it said.

Investor is the investment vehicle of Sweden's prominent Wallenberg family.

Write to Dominic Chopping at

(END) Dow Jones Newswires

10-20-23 0246ET