The committee of Swedish pension company Alecta has withdrawn its proposal to nominate Lars Rohde as the chair of its board, it has announced.

Alecta stated that, after Rohde was proposed as the new board chair, the committee became aware that Rohe will also accept to be proposed to another board in the near future.

Its committee subsequently assessed that the two positions would not be compatible with one another for “competitive reasons”.

The committee has therefore withdrawn the proposal for Rohde ahead of the extra board meeting on 6 February, and will instead nominate former CEO of Handelsbanken, Carina Åkerström, for the position.

The new date for the extra board meeting has been set as 22 February.

“Carina Åkerström is an excellent suggestion and was one of our two final candidates,” said Alecta committee chair, Kenneth Bengtsson.

“Carina Åkerström has deep and extensive experience in the Swedish financial sector. It is ultimately the concern for Alecta's integrity and reputation that makes us take this step.

“It is regrettable that Rohde did not inform us in time that he was involved in a board process in a company whose operations undoubtedly bear similarities to Alecta’s.”

Åkerström has been proposed to take over the role of permanent board chair from Ingrid Bonde, who resigned from her position suddenly in October 2023 amid two investigations by Sweden’s Financial Supervisory Authority (FSA) over the pension company’s investments.

In March 2023, the company lost SEK 20bn following the crisis facing several US banks, which resulted in the FSA launching an investigation, while a second investigation was launched by the FSA in October 2023 into Alecta’s investments in Heimstaden Bostad.

The board's first vice chairman, Jan-Olof Jacke, has been acting as chair of the board until a new chair is elected.

“It goes without saying for me to stand up when I am asked to become chair of Alecta, even if I had not expected the question at this time,” commented Åkerström.

“But sometimes unexpected things happen and I'm used to working flexibly. I look forward to leading Alecta's board and supporting the management in its change work if I am elected on 22 February.”

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