Johan Padel has been appointed as Setra’s new president and CEO. He will succeed Börje Bengtsson who is retiring in the autumn.

Mr Padel is currently managing director of Moelven Timber. He has many years’ experience in the wood products industry, having previously been managing director of IKEA’s subsidiary Swedwood Latvia Ltd and Assidomän Hasselfors Trä AB.

“During his three years at Setra, Börje Bengtsson has carried out a major change programme designed to build long-term profitability through clear, decentralised profit responsibility,” said Setra chairman Håkan Ahlqvist. “With Johan Padel’s background and expertise this direction will be continued with a greater focus on market and sales issues.”