B&B Tools AB appointed Ulf Lilius as the new President & CEO from 1 November 2012. Ulf Lilius has been the President of TOOLS Momentum since 2010, which has been the B&B TOOLS Group's most profitable business for many years. Ulf Lilius' previous positions include Marketing and Sales Director and Executive Vice President of TOOLS Momentum (2002-2010), as well as sales manager of SKF Multitec (1996-2002).

To help facilitate a smooth transition for his successor, the current President, Stefan Wigren, will continue to be involved in the Group until 31 December 2012. Thereafter, Stefan Wigren will be available to assist the Board and his successor during the spring of 2013. Upon his own request, Stefan Wigren will also step down from the Board of Directors of B&B TOOLS AB when he resigns as President on 1 November 2012.