Jet Scandal Redraws Sweden’s Corporate Landscape

he cross-shareholdings that have defined Sweden’s second-biggest business empire — built around Industrivärden, a holding company which owns stakes in companies from Handelsbanken and Volvo to Ericsson and Sandvik — have now been dismantled. Handelsbanken on Wednesday sold its stake in Industrivärden, just after the other former central company in the empire — SCA — announced it would break itself up. “These are pretty historic events,” says Karl Wennberg, professor at Stockholm School of Economics and Linkoping University. But he adds: “It is also natural. It is part of a global shift from stakeholder capitalism to a more Anglo-Saxon sort of capitalism. ”The end of the cross-shareholdings between Industrivärden, Handelsbanken and SCA have all been dismantled in the past year after a corporate jet scandal that shook the businesses to their core. More than 10 chief executive and chairman posts have been changed at almost every company in the Industrivärden empire.

filed under: Uncategorised

0 thoughts on “Jet Scandal Redraws Sweden’s Corporate Landscape”

Comments are closed.