Breaking News

Carina Akerstrom

Sudden Resignation of Alecta’s Chairperson Carina Akerstrom Raises Questions

Stockholm, March 03, 2024, The Europe Today: In an unexpected turn of events, Alecta, Sweden’s largest pension fund, announced the resignation of its chairperson, Carina Akerstrom, just a week into her tenure. The pension fund revealed that Jan-Olof Jacke, the former interim chairperson appointed in November 2023, has been reinstated.

Alecta did not provide a specific reason for Akerstrom’s abrupt departure, but Kenneth Bengtsson, the chair of the nomination committee, expressed regret over the situation, stating, “It is regrettable that Carina Akerstrom has changed her assessment of her ability to fulfill her assignment as Chairman of the Board of Alecta and has chosen to resign.”

Akerstrom, who served as the Chief Executive at Svenska Handelsbanken until her resignation last year, did not immediately respond to requests for comment regarding her decision.

This recent development marks the second instance of a proposed chairperson not assuming the role. In January, the nomination committee withdrew its proposal for former Danish central bank chief Lars Rohde due to concerns about a potential conflict of interest. The committee had learned of Rohde’s intention to take up another board position at a different firm, leading to the nomination of Akerstrom.

Alecta emphasized that there were no conflicts of interest that could not be handled through standard procedures. The pension fund has faced challenges in filling its leadership position, and Akerstrom’s resignation adds another layer of uncertainty.

Prior to her role as chairperson at Alecta, Akerstrom’s professional background includes serving as the Chief Executive at Svenska Handelsbanken. Her sudden departure comes as a surprise to many within the financial community.

Alecta has been under scrutiny in the past year, facing two ongoing probes by the Swedish Financial Supervisory Authority (FSA) related to its risk-taking practices. Criticism has been directed at the pension fund for its substantial investments in the heavily indebted property group Heimstaden Bostad and its involvement with failed banks like First Republic, Silicon Valley, and Signature in the United States.

As Alecta navigates through these challenges, the reinstatement of Jan-Olof Jacke brings a familiar face back to the leadership, providing continuity during this period of transition.