Alrik Danielson to step down as President and CEO during 2021

GÖTEBORG,Sweden,Nov. 17,2020 --The Board of AB SKF and Alrik Danielson have jointly agreed that Alrik Danielson will leave his role as President and CEO in 2021,a role he has held since January 2015. The Board has started the process of recruiting a new President and CEO.

Hans Stråberg,Chairman of the Board of AB SKF,says: "I would like to warmly thank Alrik Danielson for his contributions to SKF during his 25 years in the company and especially for his time as President and CEO. He has implemented major and important changes that have positioned SKF very well for the future. The Board,together with Alrik Danielson,have made the assessment that now is the right time to identify a new President and CEO who can continue to execute SKF's strategy."

Alrik Danielson,President and CEO,says: "SKF is a fantastic company and it is a privilege to work with such dedicated colleagues. I know that SKF will continue to be successful in the future."

The Board has initiated a recruitment process to identify a new President and CEO who can continue to deliver on the Company's strategy. Alrik Danielson will continue in his current role until a successor is in place,contributing to a smooth transition.

Aktiebolaget SKF

(publ)

This is information that AB SKF is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication,through the agency of the contact person set out above,at 18:15CET on 16 November 2020.

CONTACT:

For further information,please contact:

PRESS: Theo Kjellberg,Director,Press Relations

tel: 46 31337 6576,mobile: 46 725-776576,e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg,Head of Investor Relations

Patrik Stenberg,46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com

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