The nomination committee of Swedish pension company Alecta has confirmed its intention to appoint Magnus Hall as chair at its annual general meeting on 8 May 2025.

Hall, whose name was first mooted for the role in early February 2025, then received regulatory approval from Sweden's Finansinspektionen later in February. A smooth takeover of the role will mark the end of an 18-month struggle to find a permanent chair, while it navigated a crisis within the company.

In October 2023, Ingrid Bonde resigned from the role, amid two investigations by Sweden’s Financial Supervisory Authority over the pension company’s investments.

In January 2024, the committee of Alecta proposed that Lars Rohde become the new chair, but withdrew this due to a conflict of interest. Following this, the committee instead nominated Carina Åkerström, former CEO of Handelsbanken. However, she resigned in March 2024 after just 11 days in the role.

Since then, Jan-Olof Jacke, in his capacity as first deputy chairman, has taken over as chairman of the board. It was revealed in July 2024 that Sweden’s FI found the troubled pension provider “violated several regulations” in relation to its investments.

Hall said he looks forward to “contributing to Alecta's continued development” as it is “vigorously emerging from a serious crisis of confidence”. He has been CEO of Vattenfall and AB Holmen and is currently chairman of the board of Södra Skogsägarna and Höganäs AB.

He has also previously been a member of the board of AMF, chairman of the Association for Good Practice in the Securities Market and vice president of IVA, the Royal Swedish Academy of Engineering Sciences.

“Magnus Hall is one of Sweden's most respected and competent business leaders, with extensive experience of leading financially and technically complex businesses as CEO and chairman of the board,” Alecta nomination committee chair, Kenneth Bengtsson, said.

“His experience and expertise is what Alecta's board needs in this situation. Magnus Hall will thus strengthen and complement a board that today consists of more independent members, and more members with specialised financial and regulatory expertise.”

In addition, the nomination committee has proposed that the following be re-elected as ordinary board members: Marcus Dahlsten, Markus Granlund, Elisabeth Sasse, Björn Oxhammar, Bo Kratz, Heléne Robson, Hans Fahlin and Viveka Strangert. It has also proposed that Securitas chief information officer, Hillevi Agranius, and Brandkontoret CEO, Jesper Andersson, be newly elected.

The elections are for the period until the 2026 annual general meeting. Acting chair, Jan-Olof Jacke, and Martin Fridolf have declined re-election.

Furthermore, the nomination committee has proposed an adjustment of the fee model, which entails an increase in board fees, with the aim of adapting them to the market to facilitate the ongoing broadening of the recruitment base and expertise. It said this mainly concerns the vice chairman and other board members.

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